Central counterparty (CCP) initial margin models are procyclical by nature, and CCPs use antiprocyclicality (APC) tools to mitigate this. However, despite the widespread use of such tools, margin models of CCPs around the world reacted severely to the heightened volatility during the March 2020...

This study analyses the linkages between macroeconomic and bank-specific determinants of non-performing loans (NPLs) and their impact on macroeconomic performance in the Baltic States using two complementary approaches. First, we examine the macroeconomic and bank-specific determinants of NPLs...

Using a unique dataset of corporate loans of 13,070 Greek firms for the period 2008-2015 and an identification strategy based on the internal credit ratings of banks, we provide evidence that one out of six firms with non-performing loans are strategic defaulters. Furthermore, we investigate...

Purpose - to analyse the digitalization trends in the Central Caucasian (Georgia, Azerbaijan and Armenia) and Baltic States with the aim of reducing a financial gap for the Small and Medium size Enterprises in Georgia, Azerbaijan and Armenia. Research methodology - comparative analysis between...