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Renegotiable debt, liquidity injections and financial instability
Doh, Hyun Soo; Feng, Guanhao - In: Journal of derivatives and quantitative studies 32 (2024) 3, pp. 182-199
This paper develops a debt-run model to study the effects of liquidity injections on debt markets in the presence of a … terms of debt. We show that when equityholders have a large bargaining power, liquidity injections into distressed firms can …
Persistent link: https://www.econbiz.de/10015055030
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Dealer financial conditions and lender-of-last-resort facilities
Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - 2014
provided liquidity against a range of assets during 2008-09. Dealers with lower equity returns and greater leverage prior to … liquidity in explaining dealer behavior. The results suggest that both financial performance and balance sheet liquidity play a …
Persistent link: https://www.econbiz.de/10010404154
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Liquidity in Resolution : Estimating Possible Liquidity Gaps for Specific Banks in Resolution and in a Systemic Crisis
Parisi, Laura; Chalamandaris, Dimitrios E.; Amamou, Raschid - 2021
This paper contributes to the debate on liquidity in resolution by providing a quantitative assessment of liquidity … gaps of banks in resolution in the euro area. It estimates possible ranges of liquidity gaps for significant banks under … different assumptions and scenarios. The findings suggest that, while the average liquidity gaps in resolution are limited, the …
Persistent link: https://www.econbiz.de/10013315006
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Liquidity in resolution : estimating possible liquidity gaps for specific banks in resolution and in a systemic crisis
Amamou, Raschid; Baumann, Andreas; Chalamandaris, Dimitrios - 2020
This paper contributes to the debate on liquidity in resolution by providing a quantitative assessment of liquidity … gaps of banks in resolution in the euro area. It estimates possible ranges of liquidity gaps for significant banks under … different assumptions and scenarios. The findings suggest that, while the average liquidity gaps in resolution are limited, the …
Persistent link: https://www.econbiz.de/10012313295
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Public Liquidity and Financial Crises
Li, Wenhao - 2020
Is the supply of public liquidity important for alleviating financial crises? I quantify a general equilibrium model … featuring the liquidity insurance channel: Banks demand public liquidity as insurance against liquidation losses during banking … crises. Cheaper liquidity insurance increases banks' liquidity buffer, which increases bank lending and thus output …
Persistent link: https://www.econbiz.de/10012852345
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The Dark Side of Liquidity Regulation : Bank Opacity and Funding Liquidity Risk
Raz, Arisyi; McGowan, Danny; Zhao, Tianshu - 2022
We evaluate how the liquidity coverage rule affects US banks' opacity and funding liquidity risk. Banks subject to the … rule become significantly more opaque and funding liquidity risk increases by $245 million per quarter. Higher funding … liquidity risk is more pronounced among banks that are subject to the rule's more stringent liquidity buffers, and systemically …
Persistent link: https://www.econbiz.de/10013403561
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Liquidity, Systemic Risk, and the Bankruptcy Treatment of Financial Contracts
Mokal, Riz - 2016
Persistent link: https://www.econbiz.de/10013002918
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Liquidation, Bailout, and Bail-in : Insolvency Resolution Mechanisms and Bank Lending
Lambrecht, Bart M. - 2019
We present a dynamic, continuous-time model in which risk averse inside equityholders set a bank's lending, payout, and financing policies, and the exposure of bank assets to crashes. The effect of the prevailing insolvency resolution mechanism (IRM) on the probability of insolvency, loss in...
Persistent link: https://www.econbiz.de/10012900014
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"Where’s my swap line?" : a money view of international lender of last resort
Mehrling, Perry - In: Jahrbuch für Wirtschaftsgeschichte 63 (2022) 2, pp. 559-574
The past two decades have seen the construction of a tiered system of international liquidity provision, the first tier …
Persistent link: https://www.econbiz.de/10013447685
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The Economic Perspective of Bank Bankruptcy Law
Marinc, Matej - 2011
This paper argues that a special bank bankruptcy regime is desirable for the efficient restructuring and/or liquidation of distressed banks. We first explore the principal features of corporate bankruptcy law. Next, we examine the specific characteristics that distinguish banks from other...
Persistent link: https://www.econbiz.de/10013118965