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Crises and Rescues : Liquidity Transmission Through International Banks

Buch, Claudia M. - 2016

This paper studies how global banks transmit liquidity shocks via their internal capital markets. The unexpected access … as our liquidity shock. Using microdata on all affiliates abroad, we test whether affiliates located outside the US … actively managed internal capital markets and the increased centralization of global banks' liquidity management at the …

Persistent link: https://www.econbiz.de/10012984410

Interpreting TARGET2 Balances

Cecchetti, Stephen G. - 2014

The increase in the TARGET2 balance for the Bundesbank has led to a debate in Germany about the appropriate interpretation and policy response, if any. In this paper we review the evidence for the current account financing interpretation, and find it wanting in explaining the data in 2012. BIS...

Persistent link: https://www.econbiz.de/10013064804

The 2011 FDIC Assessment on Banks Managed Liabilities : Interest Rate and Balance-Sheet Responses

Kreicher, Lawrence - 2014

The global financial crisis led to discussion of corrective bank taxes to promote financial stability. This paper interprets the widening of the FDIC assessment base from deposits to assets less equity for US-chartered banks in April 2011 as such a corrective or Pigovian tax. In terms of yields,...

Persistent link: https://www.econbiz.de/10013063665

The US Dollar Shortage in Global Banking and the International Policy Response

McGuire, Patrick; von Peter, Goetz - 2013

Among the policy responses to the global financial crisis, the international provision of US dollars via central bank swap lines stands out. This paper studies the build-up of stresses on banks' balance sheets that led to this coordinated policy response. Using the BIS international banking...

Persistent link: https://www.econbiz.de/10014202514

Supply- and Demand-Side Factors in Global Banking

Amiti, Mary - 2017

What is the role for supply and demand forces in determining movements in international banking flows? Answering this question is crucial for understanding the international transmission of financial shocks and formulating policy. This paper addresses the question by using the method developed...

Persistent link: https://www.econbiz.de/10012955840

Global Dollar Credit : Links to US Monetary Policy and Leverage

McCauley, Robert N. - 2015

. This has relevance for the discussion of global liquidity and global monetary policy transmission. This paper contributes …

Persistent link: https://www.econbiz.de/10013029939

Toward a Global Risk Map

Cecchetti, Stephen G. - 2013

Global risk maps are unified databases that provide risk exposure data to supervisors and the broader financial market community worldwide. We think of them as giant matrices that track the bilateral (firm-level) exposures of banks, non-bank financial institutions and other relevant market...

Persistent link: https://www.econbiz.de/10013094603

The Social Value of Policy Signals

Avdjiev, Stefan; McGuire, Patrick; Tarashev, Nikola A. - 2014

Do public policy signals improve the alignment of market outcomes with economic fundamentals? Existing work contends that, when individual players have an incentive to coordinate their actions, public policy signals could steer these actions away from the fundamentals. We argue that such a...

Persistent link: https://www.econbiz.de/10014165943

Home Sweet Host : Prudential and Monetary Policy Spillovers Through Global Banks

Avdjiev, Stefan - 2020

Prudential regulation of banks is multi-layered: policy changes by home-country authorities affect banks' global operations across many jurisdictions; changes by host-country authorities shape banks' operations in the host jurisdiction regardless of the nationality of the parent bank. Which...

Persistent link: https://www.econbiz.de/10012837526

Transmission of Monetary Policy Through Global Banks : Whose Policy Matters?

Avdjiev, Stefan - 2018

This paper explores the basic question of whose monetary policy matters for banks' international lending. In the international context, monetary policies from several countries could come into play: the lender's, the borrower's, and that of a third country, the issuer of the currency in which...

Persistent link: https://www.econbiz.de/10012912467