Banking & Insurance eJournal最新文献_第10页

Risk transference constraints in optimal reinsurance 最优再保险中的风险转移约束

Banking & Insurance eJournal Pub Date : 2021-04-11 DOI: 10.2139/ssrn.3824121

A. Balbás, B. Balbás, Raquel Balbás, Antonio J. Heras

引用次数: 5

The Burden of Cash and the Penny Policy Debate 现金负担和便士政策辩论

Banking & Insurance eJournal Pub Date : 2021-04-08 DOI: 10.2139/ssrn.3822693

B. Prescott, Oz Shy

引用次数: 0

Cyberattacks on Small Banks and the Impact on Local Banking Markets 针对小型银行的网络攻击及对本地银行市场的影响

Banking & Insurance eJournal Pub Date : 2021-04-08 DOI: 10.2139/ssrn.3823296

Fabian Gogolin, I. Lim, Francesco Vallascas

引用次数: 1

Central Bank Digital Currencies: Balancing Public-Private Partnerships 中央银行数字货币:平衡公私伙伴关系

Banking & Insurance eJournal Pub Date : 2021-04-07 DOI: 10.2139/ssrn.3850116

Marianne Ojo D Delaney PhD

{"title":"Central Bank Digital Currencies: Balancing Public-Private Partnerships","authors":"Marianne Ojo D Delaney PhD","doi":"10.2139/ssrn.3850116","DOIUrl":"https://doi.org/10.2139/ssrn.3850116","url":null,"abstract":"What roles exist for public and private partnerships within the context of central bank digital currencies (CBDCs), in an increasingly digitalized global system? Do central bank digital currencies (CBDCs) serve as public goods rather than tools which should primarily remain within the realm and governance of private sector firms? What challenges or risks are presented through the use of CBDCs and how can such risks be mitigated through current existing structures - as well as models which have been propounded in relation to public – private partnerships? This paper aims to contribute to the literature on the topic through a consideration of several variants and models of CBDCs under which the public private partnership would function, namely the synthetic CBDC (sCBDC) and the two-tiered CBDC. Further, two other types of CBDCs, namely the wholesale CBDC and the retail CBDC will be distinguished - as well as the account based CBDC, which is contrasted to CBDCs based on digital tokens. Whilst concerns for privacy and security remain paramount and cannot be undermined, particularly from the perspectives of distributed ledger technologies (and blockchains – through which such platforms operate), such concerns need to be weighed against the need for identification since regulators will be better supported in their goals in enforcing the law, as well as identifying fraudulent operations, where sufficient identification procedures have been put in place.","PeriodicalId":331807,"journal":{"name":"Banking & Insurance eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134196096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Economics of Insurance: A Derivatives-Based Approach 保险经济学:一种基于衍生品的方法

Banking & Insurance eJournal Pub Date : 2021-04-04 DOI: 10.2139/ssrn.3656469

R. Jarrow

引用次数: 5

Credit Supply Shocks and Household Defaults 信贷供给冲击与家庭违约

Banking & Insurance eJournal Pub Date : 2021-04-01 DOI: 10.2139/ssrn.3829990

M. Mamonov, A. Pestova

{"title":"Credit Supply Shocks and Household Defaults","authors":"M. Mamonov, A. Pestova","doi":"10.2139/ssrn.3829990","DOIUrl":"https://doi.org/10.2139/ssrn.3829990","url":null,"abstract":"Are disruptions of the mortgage market a consequence of financial imbalances accumulated in the past? In this paper, we study the effects of positive and negative credit supply (CS) shocks on subsequent household defaults on debt over the last four decades in U.S. states. We apply sign restrictions within a VAR framework to isolate state-level CS shocks, and identify that 1984 and 2004 were the years of systemic, countrywide, positive CS shocks whereas 1989 and 2009 brought systemic negative shocks. Further, by employing a difference-in-differences framework, we find that both positive and negative CS shocks lead to greater household defaults in the future if they also increase mortgage-to-income ratios. We show that the CS shock-induced (i) shifts of employment between the tradable and non-tradable sectors, (ii) changes in household income and (iii) in house prices facilitate the accumulation of default risks. Our results indicate that positive CS shocks occurred in 1984 did not raise household defaults by more in more exposed states compared to less exposed states because the shocks increased both future income and mortgage debt, while not affecting mortgage-to-income ratios. In contrast, the 1989, 2004 and 2009 CS shocks increased mortgage-to-income ratios in subsequent years, thereby raising debt delinquencies and household defaults. These results provide further empirical evidence to theories of endogenous credit cycles.","PeriodicalId":331807,"journal":{"name":"Banking & Insurance eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122172777","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Third-Party Credit Guarantees and the Cost of Debt: Evidence from Corporate Loans 第三方信用担保与债务成本:来自企业贷款的证据

Banking & Insurance eJournal Pub Date : 2021-04-01 DOI: 10.2139/ssrn.3492106

M. Beyhaghi

引用次数: 12

Foreign Bank Assets and Presence on Banking Stability in Africa: Does Strong and Weak Corporate Governance Systems under different Regulatory Regimes Matter? 外资银行资产和存在对非洲银行业稳定性的影响:不同监管制度下公司治理制度的强弱是否重要?

Banking & Insurance eJournal Pub Date : 2021-03-30 DOI: 10.2139/ssrn.3815642

B. Kusi, E. Agbloyor, S. Asongu, J. Abor

{"title":"Foreign Bank Assets and Presence on Banking Stability in Africa: Does Strong and Weak Corporate Governance Systems under different Regulatory Regimes Matter?","authors":"B. Kusi, E. Agbloyor, S. Asongu, J. Abor","doi":"10.2139/ssrn.3815642","DOIUrl":"https://doi.org/10.2139/ssrn.3815642","url":null,"abstract":"This study examines the effect of foreign bank assets and presence on banking stability in the economies with strong and weak country-level corporate governance in Africa between 2006 and 2015. Employing a Prais-Winsten panel data model on 86 banks in about 30 African economies, the findings on how foreign bank assets and presence influence banking stability in strong and weak corporate governance economies under different regulatory regimes are reported for the first time in Africa. The initial findings show that foreign bank presence and assets promote banking stability. However, the positive effect of foreign bank assets and presence is enhanced in economies with strong country-level corporate governance, while the positive effect of foreign bank assets and presence is weakened in economies with weak country-level corporate governance. After introducing different regulatory variables (regimes), it is observed that the enhancing effect of foreign bank presence and assets on banking stability in the full sample and economies with strong and weak country level corporate governance systems is deepened or improved under loan loss provision regulation regime. However, under the private and public sector-led financial transparency regulations, the reducing effect of foreign bank presence and assets on banking stability in economies with weak corporate governance systems is further dampened. These findings show that the relationship between foreign bank presence and assets is deeply shaped by corporate governance systems and regulatory regimes in Africa. Hence, policymakers must build strong corporate governance and sound regulatory regimes to enhance how foreign bank operations promote banking stability.","PeriodicalId":331807,"journal":{"name":"Banking & Insurance eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130328669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Getting Bank Governance Right - The Interplay between the Resolution Framework and the Role of Creditors, with an Application to EU Law 获得正确的银行治理-决议框架与债权人角色之间的相互作用，以及对欧盟法律的应用

Banking & Insurance eJournal Pub Date : 2021-03-29 DOI: 10.2139/ssrn.3814700

Edoardo D. Martino

{"title":"Getting Bank Governance Right - The Interplay between the Resolution Framework and the Role of Creditors, with an Application to EU Law","authors":"Edoardo D. Martino","doi":"10.2139/ssrn.3814700","DOIUrl":"https://doi.org/10.2139/ssrn.3814700","url":null,"abstract":"Shareholders are the residual claimants on the assets of a corporation. Creditors are fixed claimants whose interest lies in the solvency of the borrower. Consequently, shareholders are usually thought to have optimal incentives to maximise the value of the corporation. The article challenges this common wisdom in banking and proposes to reform bank governance granting (some) ex-ante governance rights to bank creditors. This aims at fine-tuning bank governance and incumbent substantive regulation, in particular the resolution framework for distressed banks, and enhance the quality of decision-making of banks in terms of risk-taking. At the same time, the proposed reform should increase the ex-ante credibility of resolution. The second part of the article operationalises this construct focusing on the specific case of the European Banking Union and discusses the design of the governance status of bail-inable creditors. The analysis demonstrates how bail-inable creditors can correct for shareholders’ perverse incentives and make debt governance work in banking. The policy proposal advanced in the paper would complement substantive regulation and prudential oversight. The governance role of creditors has the potential to be particularly helpful in preventing disproportionate risk-taking decisions in good times, when regulatory and supervisory standards are lax and systemic risk piles-up. ","PeriodicalId":331807,"journal":{"name":"Banking & Insurance eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129292910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Bank Bailouts and Economic Growth: Evidence from Cross-Country, Cross-Industry Data 银行救助与经济增长:来自跨国跨行业数据的证据

Banking & Insurance eJournal Pub Date : 2021-03-29 DOI: 10.2139/ssrn.3814662

Valeriya Dinger, Lisardo Erman, Daniel Marcel te Kaat

引用次数: 2