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Blanket guarantee and restructuring decisions for multinational banks in a bargaining model
Niinimäki, Juha-Pekka; Mälkönen, Ville - Suomen Pankki - 2009
This paper examines blanket guarantee and restructuring decisions in respect of a multinational bank (MNB) using Nash bargaining, when the threat of a panic motivates countries to take decisions quickly. The failure of the bank would cause unevenly distributed externalities between the countries...
Persistent link: https://www.econbiz.de/10004976732
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Screening in the credit market when the collateral value is stochastic
Niinimäki, Juha-Pekka - Suomen Pankki - 2009
project success fluctuate. Some model versions challenge the classic findings of Bester (1985) by showing that high-risk … borrowers may in such case be more willing to pledge collateral than low-risk borrowers. Abundant collateral then would not … signal low risk. The results may help explain the mixed empirical findings on the role of collateral. The paper also extends …
Persistent link: https://www.econbiz.de/10005014554
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Capital adequacy regulation and financial conglomerates
Mälkönen, Ville - Suomen Pankki - 2004
A topical concern in public-policy debate is that the current capital adequacy regulation designed for stand-alone financial institutions exhibits several weaknesses due to the emergence of large financial institutions combining several activities under common control. This paper addresses these...
Persistent link: https://www.econbiz.de/10005648868
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The Effects of Competition on Banks’ Risk Taking with and without Deposit Insurance
Niinimäki, Juha-Pekka - Suomen Pankki - 2000
We consider the joint effect of competition and deposit insurance on risk taking by banks when the riskiness of banks … is unobservable to depositors. It turns out that the magnitude of risk taking depends on the type of bank competition. If … the bank is a monopoly or banks compete only in the loan market, deposit insurance has no effect on risk taking. In that …
Persistent link: https://www.econbiz.de/10005648946
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Risk-based classification of financial instruments in the Finnish statutory pension scheme TyEL
Tanskanen, Antti J; Niininen, Petri; Vatanen, Kari - Suomen Pankki - 2010
limit can be determined, financial instruments must be classified into the five statutory asset classes based on risk. The …
Persistent link: https://www.econbiz.de/10008516093
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Integration of financial supervision
Holopainen, Helena - Suomen Pankki - 2007
The emergence of financial conglomerates and multinational financial institutions as well as the development of new financial products have raised concerns as to the ability of separate sectoral supervisors and different national authorities to effectively oversee financial markets....
Persistent link: https://www.econbiz.de/10005190747
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Moral hazard in the credit market when the collateral value is stochastic
Niinimäki, Juha-Pekka - Suomen Pankki - 2010
This theoretical paper explores the effects of costly and non-costly collateral on moral hazard, when collateral value may fluctuate. Given that all collateral is costly, stochastic collateral will entail the same positive incentive effects as nonstochastic collateral, provided the variation in...
Persistent link: https://www.econbiz.de/10008800750
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Interlinking securities settlement systems: A strategic commitment?
Kauko, Karlo - Suomen Pankki - 2003
Central securities depositories (CSDs) have opened mutual links, but most of them are seldom used. Why are idle links established? By allowing a foreign CSD to offer services through the link the domestic CSD invites competition. The domestic CSD can determine the cost efficiency of the rival by...
Persistent link: https://www.econbiz.de/10005419676
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The demand for money market mutual funds
Kauko, Karlo - Suomen Pankki - 2005
volatility, paradoxically, increases the risk of holding M1 deposits stronger than the risk of holding MMFs. The results are …
Persistent link: https://www.econbiz.de/10005423687
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Total factor productivity growth in European stock exchanges: A non-parametric frontier approach
Schmiedel, Heiko - Suomen Pankki - 2002
This paper examines progressive changes in productivity of the European stock exchange industry using non-parametric frontier techniques. Within the framework of Malmquist indices, total factor productivity growth is decomposed into technological progress and technical efficiency change for a...
Persistent link: https://www.econbiz.de/10005423705