After addressing the securitisation of non-performing loans (NPLs) within the broader context of the ECB's efforts to reduce NPL stocks and inflows, we investigate the structural and pricing features of NPL securitisations, issued by large banks in the euro area, by drawing on a unique and...

Nicht zuletzt nach Ausbruch der Covid-19-Pandemie stand die Stabilität des deutschen Bankensystems als integraler Bestandteil des nationalen Finanzsystems unter besonderer Beobachtung. Entscheidend für die Finanzstabilität ist die Frage, ob die Banken ausreichend gegen Stresseffekte...

The stability of the German banking system, in its capacity as an integral component of the country's financial system, has come under particular scrutiny, not least since the onset of the COVID-19 pandemic. Financial stability hinges on whether banks are sufficiently resilient to stress...

In recent years Chinese foreign acquisitions have increased significantly. In Europe and the United States, these investments are often criticized. Critics argue that Chinese investors outbid competitors with help from their government, that the acquisitions lead to undesirable technology...

We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register of syndicated loans, loan-time fixed effects, and shocks to capital...