Showing 1 - 10 of 5,669
This paper uses the variability of money market rates to compare the conduct of the central bank's key market operation as a fixed-rate tender (FRT) or a variable-rate tender (VRT). Nowadays, leading central banks generally use FRTs or other approaches (e.g. target rates) which yield step...
Persistent link: https://www.econbiz.de/10013320189
We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...
Persistent link: https://www.econbiz.de/10014358874
We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...
Persistent link: https://www.econbiz.de/10014247983
The financial crisis 2008-2009 and the European sovereign debt crisis have shown that stress on financial markets is important for analyzing and forecasting economic activity. Since financial stress is not directly observable but is presumably reflected in many financial market variables, it is...
Persistent link: https://www.econbiz.de/10009382999
This paper examines capital adequacy regulation in Germany. After a short overview about financial regulation in … Germany in general, the paper focuses on the most important development in the area of capital adequacy regulation from the … models for financial regulation is problematic. Finally, some suggestions of how the problems could be addressed are given. …
Persistent link: https://www.econbiz.de/10010256881
In this paper, we investigate how the introduction of complex, model-based capital regulation affected credit risk of … financial institutions. Model-based regulation was meant to enhance the stability of the financial sector by making capital … underpredict actual default rates by 0.5 to 1 percentage points; (2) both default rates and loss rates are higher for loans that …
Persistent link: https://www.econbiz.de/10010403970
In this paper, we investigate how the introduction of complex, model-based capital regulation affected credit risk of … financial institutions. Model-based regulation was meant to enhance the stability of the financial sector by making capital … underpredict actual default rates by 0.5 to 1 percentage points; (2) both default rates and loss rates are higher for loans that …
Persistent link: https://www.econbiz.de/10010436805
Persistent link: https://www.econbiz.de/10011618614
In this paper, we investigate how the introduction of sophisticated, model-based capital regulation affected the … measurement of credit risk by financial institutions. Model-based regulation was meant to enhance the stability of the financial … systematically underpredict actual default rates by 0.5 to 1 percentage points; (2) both default rates and loss rates are higher for …
Persistent link: https://www.econbiz.de/10012987539
Using loan-level data from Germany, we investigate how the introduction of model-based capital regulation affected … banks' ability to absorb shocks. The objective of this regulation was to enhance financial stability by making capital … requirements responsive to asset risk. Our evidence suggests that banks 'optimized' model-based regulation to lower their capital …
Persistent link: https://www.econbiz.de/10012668377