HORVÁTH, BÁLINT L.; HUIZINGA, HARRY - In: Journal of Money, Credit and Banking 47 (2015) 1, pp. 177-206
On May 9, 2010 euro zone countries announced the creation of the European Financial Stability Facility. This paper investigates the impact of this announcement on bank share prices, bank credit default swap (CDS) spreads, and sovereign CDS spreads. The main private beneficiaries were bank...