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The Euro's savior? : assessing the ECB's crisis management performance and potential for crisis resolution

Bibow, Jörg - 2015

This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution …. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under … that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in …

Persistent link: https://www.econbiz.de/10011349470

Preventing a New Global Financial Crisis Amidst the Current 'Inflation Crisis' and the Spring 2023 Bank Failure Episodes

Gortsos, Christos - 2023

The quite recent (2007-2009) global financial crisis (GFC), which was caused by a mix of business, regulatory, supervisory, and macroeconomic (in terms of sub-optimal fiscal and/or monetary policies) failures, had a negative impact both on the financial system – with the failure, through the...

Persistent link: https://www.econbiz.de/10014354197

The domino effect of silicon valley Bank's bankruptcy and the role of FED's monetary policy

Erer, Elif; Erer, Deniz - In: Borsa Istanbul Review 24 (2024) 3, pp. 573-591

This paper examines the spillover effects of bankruptcy by important tech industry banks-Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank-on the top 10 institutions in the MSCI Bank Index and the role that monetary policy by the US Federal Reserve (the Fed) played in this...

Persistent link: https://www.econbiz.de/10014635351

Crisis management at cross-roads : challenges facing cross-border financial institutions at the EU level : a joint publication with the Centre for European Policy Studies (CEPS)

Ayadi, Rym (ed.); Lierman, Frank (ed.); Balling, Morten (ed.) - Conference "Crisis Management at Cross-Roads" <2009, …; … - 2010

On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.

Persistent link: https://www.econbiz.de/10011706117

Targeting financial stability : macroprudential or monetary policy?

Aikman, David; Giese, Julia; Kapadia, Sujit; McLeay, Michael - 2019

This paper explores monetary-macroprudential policy interactions in a simple, calibrated New Keynesian model incorporating the possibility of a credit boom precipitating a financial crisis and a loss function reflecting financial stability considerations. Deploying the countercyclical capital...

Persistent link: https://www.econbiz.de/10012009108

The effect of monetary policy on systemic bank funding stability

Grimm, Maximilian - 2024 - This version: November 4, 2024

Does monetary policy affect funding vulnerabilities of the banking system? I show that contractionary monetary policy shocks cause an aggregate outflow of retail deposits and an inflow of non-core market-based funding. Using a newly constructed worldwide dataset covering the liability structure...

Persistent link: https://www.econbiz.de/10015115096

Credit in a Crisis : Effects of the Fed's Corporate Bond Market Intervention

Haque, Sharjil; Varghese, Richard - 2021

We estimate the effects of the Federal Reserve’s Secondary Market Corporate Credit Facilities (SMCCF) on corporate bond market liquidity, yield, bond valuations and firm-level outcomes. Using comprehensive data on secondary market transactions in a diff-in-diff analysis, we find the SMCCF...

Persistent link: https://www.econbiz.de/10013220064

Systemic Risk and Monetary Policy : The Haircut Gap Channel of the Lender of Last Resort

Jasova, Martina; Laeven, Luc; Mendicino, Caterina; … - 2021

We show that lender of the last resort (LOLR) policy contributes to higher bank interconnectedness and systemic risk. Using novel micro-level data, we analyze the haircut gap channel of LOLR – the difference between the private market and central bank haircuts. LOLR increases...

Persistent link: https://www.econbiz.de/10013225855

Liquidity Provision and Financial Stability

Chen, William; Phelan, Gregory - 2022

When financial intermediaries’ key characteristic is provision of liquidity through their liabilities, with financial frictions the financial sector in the aggregate is likely to over-accumulate equity, thus decreasing liquidity provision and household welfare. Aggregate household welfare is...

Persistent link: https://www.econbiz.de/10014235793

Systemic risk in a network model of interbank markets with central bank activity

Georg, Co-Pierre; Poschmann, Jenny - 2010

The breakdown of the interbank money markets in the face of the recent financial crisis has forced central banks and governments to take extraordinary measures to sustain financial stability. In this paper we investigate which influence central bank activity has on interbank markets. In our...

Persistent link: https://www.econbiz.de/10003971540