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Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks?

Santos, André Oliveira - 2019

This paper analyzes the capital structure of private asset managers in which theacquisition of nonperforming loans (NPLs) is funded with Contingent Convertibles(CoCos) placed with investors. The paper develops a model based on NPL transferprices and residual recovery rates to assess capital...

Persistent link: https://www.econbiz.de/10012868458

Cleaning-Up Bank Balance Sheets : Economic, Legal, and Supervisory Measures for Italy

Garrido, José María - 2016

implementing a number of reforms, aimed among others at speeding up insolvency and enforcement proceedings, strengthening bank … corporate governance, cleaning up balance sheets, and facilitating bank consolidation. This paper examines the Italian banking … system's NPL problem, which ties up capital, weighing on bank profitability and authorities' economic reforms. It argues for …

Persistent link: https://www.econbiz.de/10012977833

A Strategy for Developing a Market for Nonperforming Loans in Italy

Jassaud, Nadege - 2015

Addressing the buildup of nonperforming loans (NPLs) in Italy since the global financial crisis will remain a challenge … impediments to NPL resolution in Italy and a strategy for fostering a market for restructuring distressed assets that could …

Persistent link: https://www.econbiz.de/10013026926

Market-Based Structural Top-Down Stress Tests of the Banking System

Chan-Lau, Jorge A. - 2013

presents a market-based structural top-down stress testing methodology that relies in market-based measures of a bank …

Persistent link: https://www.econbiz.de/10013082485

Market-Based Structural Top-Down Stress Tests of the Banking System

Chan-Lau, Jorge A. - 2013

presents a market-based structural top-down stress testing methodology that relies in market-based measures of a bank …

Persistent link: https://www.econbiz.de/10013083401

Can Italy Grow Out of its NPL Overhang? A Panel Threshold Analysis

Mohaddes, Kamiar - 2017

This paper examines whether a tipping point exists for real GDP growth in Italy above which the ratio of non … in Italy. More specifically, we find that real GDP growth above 1.2 percent, if sustained for a number of years, is …

Persistent link: https://www.econbiz.de/10012956486

Cyclical Patterns of Systemic Risk Metrics : Cross-Country Analysis

Iossifov, Plamen K.; Schmidt, Tomas Dutra - 2021

We analyze a range of macrofinancial indicators to extract signals about cyclical systemic risk across 107 economies over 1995-2020. We construct composite indices of underlying liquidity, solvency and mispricing risks and analyze their patterns over the financial cycle. We find that liquidity...

Persistent link: https://www.econbiz.de/10013243043

Profitability and Balance Sheet Repair of Italian Banks

Jobst, Andreas (Andy) - 2016

The profitability of Italian banks depends, among other factors, on the strength of the ongoing economic recovery, the stance of monetary policy, and the beneficial effects of current and past reforms, notably to address structural obstacles to resolving nonperforming loans (NPLs) and to foster...

Persistent link: https://www.econbiz.de/10012977788

Macroprudential Stress Tests : A Reduced-Form Approach to Quantifying Systemic Risk Losses

Alla, Zineddine - 2018

We present a novel approach that incorporates individual entity stress testing and losses from systemic risk effects (SE losses) into macroprudential stress testing. SE losses are measured using a reduced-form model to value financial entity assets, conditional on macroeconomic stress and the...

Persistent link: https://www.econbiz.de/10012907939

Politically Robust Financial Regulation

Agur, Itai - 2021

The deferred recognition of COVID-induced losses at banks in many countries hasreignited the debate on regulatory forbearance. This paper presents a model where thepublic's own political pressure drives regulatory policy astray, because the public is poorlyinformed. Using probabilistic game...

Persistent link: https://www.econbiz.de/10013243078