in banks' dollar hedging costs. For identification, we exploit regulatory end-of-quarter reporting that penalizes banks …

. Since the establishment of the Banking Union in 2014, the European Central Bank (ECB) can impose stricter regulations than …

This paper introduces a new transmission channel of banking crises where sizable cross-border bank claims on foreign … that see banking crises originating from either domestic credit booms or from cross-border borrowing. I propose a combined … model that predicts banking crises using both domestic and foreign factors. For developed economies, the channel is …

corporate hedging: equity value maximising strategies and strategies determined by managerial risk aversion. The first category … distress and costs of external finance or to replace home-made hedging by shareholders. The second category considers that … managers maximise their personal utility rather than the market value of equity. Their hedging strategy, therefore, is …

resilience during the GFC, countries with more centralised banking systems performed better in the first year of the pandemic …