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disrupting the liquidity or stability of mortgage secondary markets. In the process, the programs have created a new financial … market for pricing and trading mortgage credit risk, which has grown in size and liquidity over time. The CRT programs …
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regulation, recovery and resolution, and risk culture. …
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We measure market reactions to announcements concerning liquidity regulation, a key innovation in the Basel framework …. Our initial results show that liquidity regulation attracts negative abnormal returns. However, the price responses are … consider liquidity regulation to be binding. Bank- and country-specific characteristics also matter. Liquid balance sheets and …
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We evaluate the effects of post-crisis liquidity regulation on the U.S. banking system. We find that regulated banks …. However, some liquidity transformation has migrated to intermediaries not subject to liquidity regulation, such as small banks … liquidity regulation and create potential fragilities in the financial system. We study policy remedies to mitigate these …
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