In response to the end of the Bretton Woods system, the Oesterreichische Nationalbank (OeNB) aimed at keeping the value of the Austrian schilling stable vis-à-vis the currencies of the country's main trading partners. The OeNB's solution for achieving this objective was to introduce an internal...

Following the emergence of the financial crisis in August 2007, the Basel Committee on Banking Supervision established in 2010 a new global regulatory framework. In addition to raising capital requirements, it introduced three ratios, two of which set out minimum standards for liquidity and...

This article explores the determinants of bank rescue packages in the European Union during the recent financial crisis. Despite the common EU framework, member states had room for manoeuvre with respect to the size and structure of bank rescue packages as well as the conditions attached to the...

The purpose of this study is the investigation of the relevance of network topology for the stability of payment systems in the face of operational shocks. The analysis is based on a large number of simulations of the Austrian large-value payment system ARTIS that quantify the contagion impact...

This paper presents new evidence on the empirical relationship between bank solvency and funding costs. Building on a newly constructed dataset drawing on supervisory data for 54 large banks from six advanced countries over 2004–2013, we use a simultaneous equation approach to estimate the...

The following study analyzes the impact of demographic developments in Austria on funded pension provision in Austria. It does so by integrating demographic developments in to a standard growth model, linking the results to the accumulation and annuitisation of funded pensions. Furthermore, the...

The objective of this paper is to present a statistical analysis of liquidity, risk concentration, and network structure in ARTIS. The main results of the analysis were: Despite sufficient aggregate liquidity, individual accounts were occasionally illiquid and payment delays occurred frequently....