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Eisenbach, Thomas M.; Phelan, Gregory - 2018

illiquid assets or underprovision of liquidity. We investigate whether imperfect competition (Cournot) improves welfare through … internalizing the externality and find that this is far from guaranteed. In a standard model of liquidity shocks, when liquidity is … sufficiently scarce, Cournot competition leads to even less liquidity than the Walrasian equilibrium. In a standard model of …

Persistent link: https://www.econbiz.de/10011806238

Credit risk transfer and de facto GSE reform

Finkelstein, David L.; Strzodka, Andreas; Vickery, James - 2018

disrupting the liquidity or stability of mortgage secondary markets. In the process, the programs have created a new financial … market for pricing and trading mortgage credit risk, which has grown in size and liquidity over time. The CRT programs …

Persistent link: https://www.econbiz.de/10011806244

Resolving troubled systemically important cross-border financial institutions : is a new corporate organizational form required?

Cumming, Christine M.; Eisenbeis, Robert A. - 2010

This paper explores the advantages of a new financial charter for large, complex, internationally active financial institutions that would address the corporate governance challenges of such organizations, including incentive problems in risk decisions and the complicated corporate and...

Persistent link: https://www.econbiz.de/10008657240

Multinational banks and supranational supervision

Calzolari, Giacomo; Colliard, Jean-Edouard; Lóránth, … - In: The review of financial studies 32 (2019) 8, pp. 2997-3035

Persistent link: https://www.econbiz.de/10012033902

Macroprudential policy and the revolving door of risk : lessons from leveraged lending guidance

Kim, Sooji; Plosser, Matthew C.; Santos, João A. C. - 2017

We investigate the U.S. experience with macroprudential policies by studying the interagency guidance on leveraged lending. We find that the guidance primarily impacted large, closely supervised banks, but only after supervisors issued important clarifications. It also triggered a migration of...

Persistent link: https://www.econbiz.de/10011657569

Supervisory stress tests

Hirtle, Beverly J.; Lehnert, Andreas - 2014

This article describes the background, design choices and particular details of stress tests used as part of an overall supervisory regime; that is, their formal integration into the process of the ongoing prudential supervision of banks and other large financial institutions. We then describe...

Persistent link: https://www.econbiz.de/10010423814

The cost of closing failed banks : a structural estimation of regulatory incentives

Kang, Ari; Lowery, Richard; Wardlaw, Malcolm - In: The review of financial studies 28 (2015) 4, pp. 1060-1102

Persistent link: https://www.econbiz.de/10011338240

The effect of bank monitoring on loan repayment

Branzoli, Nicola; Fringuellotti, Fulvia - 2020

Monitoring is one of the main activities explaining the existence of banks, yet empirical evidence about its effect on loan outcomes is scant. Using granular loan-level information from the Italian Credit Register, we build a novel measure of bank monitoring based on banks' requests for...

Persistent link: https://www.econbiz.de/10012224299

Regulation and risk shuffling in bank securities portfolios

Fuster, Andreas; Vickery, James - 2018

Bank capital requirements are based on a mix of market values and book values. We investigate the effects of a policy change that ties regulatory capital to the market value of the "available-for-sale" investment securities portfolio for some banking organizations. Our analysis is based on...

Persistent link: https://www.econbiz.de/10011868435

Reducing moral hazard at the expense of market discipline : the effectiveness of double liability before and during the Great Depression

Anderson, Haelim Park; Barth, Daniel; Choi, Dong Beom - 2018

Prior to the Great Depression, regulators imposed double liability on bank shareholders to ensure financial stability and protect depositors. Under double liability, shareholders of failing banks lost their initial investment and had to pay up to the par value of the stock in order to compensate...

Persistent link: https://www.econbiz.de/10011926198

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