Banking & Insurance eJournal最新文献_第8页

Free Banking and Credit Market Competition 自由银行和信贷市场竞争

Banking & Insurance eJournal Pub Date : 2021-06-03 DOI: 10.2139/ssrn.3859667

John Thanassoulis, Tamas Vadasz

引用次数: 1

Impact of Universal Banking on Investment Decisions of Bank-Dependent Firms 全能银行对银行依赖型企业投资决策的影响

Banking & Insurance eJournal Pub Date : 2021-06-03 DOI: 10.2139/ssrn.3859082

Xiaoling Liu, Shusen Qi, Yuhui Wu

引用次数: 0

Measuring the Impact of a Bank Failure on the Real Economy: An EU-Wide Analytical Framework 衡量银行倒闭对实体经济的影响:一个欧盟范围内的分析框架

Banking & Insurance eJournal Pub Date : 2021-06-01 DOI: 10.2139/ssrn.3891642

V. Vacca, F. Bichlmeier, Paolo Biraschi, Natalie Boschi, Antonio Bravo, Luciano Di Primio, Andrea Ebner, Silvia Hoeretzeder, Elisa Llorente Ballesteros, Claudia Miani, Giacomo Ricci, R. Santioni, Stefan Schellerer, Hanna Westman

{"title":"Measuring the Impact of a Bank Failure on the Real Economy: An EU-Wide Analytical Framework","authors":"V. Vacca, F. Bichlmeier, Paolo Biraschi, Natalie Boschi, Antonio Bravo, Luciano Di Primio, Andrea Ebner, Silvia Hoeretzeder, Elisa Llorente Ballesteros, Claudia Miani, Giacomo Ricci, R. Santioni, Stefan Schellerer, Hanna Westman","doi":"10.2139/ssrn.3891642","DOIUrl":"https://doi.org/10.2139/ssrn.3891642","url":null,"abstract":"The crisis management framework for banks in the European Union (EU) requires the resolution authorities to identify the existence of a public interest to resolve an ailing bank, rather than to open normal insolvency proceedings (NIPs). The Public Interest Assessment (PIA) determines whether resolution objectives, including the safeguard of financial stability, can be better preserved using resolution tools than NIPs .This paper provides a contribution to the ongoing discussion on the implementation of the PIA, by presenting an analytical framework to quantify the potential impact on the real economy stemming from a bank’s failure under NIPs through the interruption of the lending activity (“credit channel”). The framework is harmonized across the jurisdictions belonging to the Banking Union and aims to improve the quantitative leg of the PIA, to be coupled with qualitative elements. In a first step, we quantify the potential credit shortfall faced by firms and households due to the abrupt closure of a bank. In a second step, the impact of the credit shortfall on real outcomes is estimated via a FAVAR model and via a micro-econometric model. Reference values are provided to assess the relevance of the estimated outcomes. The illustrative results show that such a harmonized approach can be applied across the Banking Union and to banks of heterogeneous size. In case of mid-sized banks, this common analytical framework could reduce the uncertainty regarding the extent to which the failure of the institution could have a negative impact to the real economy if the lending activity is interrupted as possibly the case under NIPs.","PeriodicalId":331807,"journal":{"name":"Banking & Insurance eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129625038","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 Non-bank Financial Intermediation: Why Do We Need to Fill the Regulation Gap? 非银行金融中介经济学:为什么我们需要填补监管空白?

Banking & Insurance eJournal Pub Date : 2021-06-01 DOI: 10.2139/ssrn.3891639

Maurizio Trapanese

引用次数: 0

The Triumvirate Investment Paradigm : Strategic Asset Allocation in Property, Business, and Country Assets 三驾马车投资范式:房地产、商业和国家资产的战略性资产配置

Banking & Insurance eJournal Pub Date : 2021-05-29 DOI: 10.2139/ssrn.3858852

Taher Khan

{"title":"The Triumvirate Investment Paradigm : Strategic Asset Allocation in Property, Business, and Country Assets","authors":"Taher Khan","doi":"10.2139/ssrn.3858852","DOIUrl":"https://doi.org/10.2139/ssrn.3858852","url":null,"abstract":"The purpose of this document is to outline the triumvirate investment paradigm as a strategic asset allocation blueprint for portfolio construction by categorizing assets into three distinct groups: Property, Business, and Country.<br><br>This triumvirate taxonomy fits better within the economic context of the Consumption Capital Asset Pricing Model, where we detail the macroeconomy in terms of its constituents of Consumption, Business Investment, and Government Expenditures. This segments into broadly equal market capitalization for these groups as well, with an equal importance for each part of the whole. For asset pricing, this leads to the development of Investment Selection within a particular group based on risk and reward characteristics, and the development of Investment Risk as an integral part of the investment process for Portfolio Construction in determining the diversification benefits across each group, where each group is a distinct correlation cluster.<br><br>In a zero rate economy, adoption of a triumvirate taxonomy in risk budgeting will lead to a shift of sovereign assets towards more equity-like participation in Infrastructure, which fits under the Country asset class. Equally, it will lead to less investment exposure in Private Equity. For ALM providers, it will involve a shift towards more illiquid assets, such as Property, Infrastructure and Private Credit, by recognition that the long-term liabilities are equally illiquid and well matched.","PeriodicalId":331807,"journal":{"name":"Banking & Insurance eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123685936","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

Shariah Compliant Macaulay’s Duration Model Testing: Evidence from Islamic banks in Indonesia 符合伊斯兰教法的Macaulay的期限模型检验:来自印度尼西亚伊斯兰银行的证据

Banking & Insurance eJournal Pub Date : 2021-05-27 DOI: 10.2139/ssrn.3855063

S. Shah, R. Sukmana, B. A. Fianto

引用次数: 1

Banks' Liquidity Management During the COVID-19 Pandemic COVID-19大流行期间银行流动性管理

Banking & Insurance eJournal Pub Date : 2021-05-26 DOI: 10.2139/ssrn.3853985

D. Gounopoulos, Kaisheng Luo, Anamaria Nicolae, Nikos Paltalidis

{"title":"Banks' Liquidity Management During the COVID-19 Pandemic","authors":"D. Gounopoulos, Kaisheng Luo, Anamaria Nicolae, Nikos Paltalidis","doi":"10.2139/ssrn.3853985","DOIUrl":"https://doi.org/10.2139/ssrn.3853985","url":null,"abstract":"How banks managed the COVID-19 pandemic shock? The eruption of the financial crisis in 2007 evolved to a crisis of banks as liquidity providers (Acharya and Mora, 2015). The COVID-19 pandemic shock was associated with a surge in households’ deposits and a subsequent liquidity injection by the Federal Reserve. We show how the pandemic affected banks’ liquidity management and therefore by extension, the creation of new loans. We empirically evaluate the creation and management of banks’ liquidity through three well established mechanisms: market discipline (supply-side), internal capital markets (demand-side), and the balance-sheet mechanism which captures banks’ exposure to liquidity demand risk. We provide novel empirical evidence showing that households increased savings as a precaution against future declines in their income. Also, depositors did not discipline riskier banks, and the internal capital market mechanism was not in work during the pandemic. Hence, weakly-capitalized banks were not forced to offer higher deposit rates to stem deposit outflows. Furthermore, weakly-capitalized banks increased lending in the first phase of the pandemic, while in the midst of the pandemic, they cut back new lending origination and increased their exposure to Fed’s liquidity facilities. Well-capitalized banks on the other hand, increased lending in line with the increase in their deposits. Banks with higher exposure to liquidity risk were vulnerable to deposit outflows and increased their exposure in Fed’s liquidity facilities significantly more than low-commitments exposed banks.","PeriodicalId":331807,"journal":{"name":"Banking & Insurance eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128486937","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

Economic Policy Uncertainty and Bank Stability 经济政策不确定性与银行稳定性

Banking & Insurance eJournal Pub Date : 2021-05-25 DOI: 10.2139/ssrn.3855469

G. Danisman, Amine Tarazi

引用次数: 0

How Do Global Systemically Important Banks Lower Capital Surcharges? 全球系统重要性银行如何降低资本附加费?

Banking & Insurance eJournal Pub Date : 2021-05-21 DOI: 10.2139/ssrn.3764965

Jared Berry, Akber Khan, Marcelo Rezende

引用次数: 3

Bank Stress Test Disclosures, Private Information Production, and Price Informativeness 银行压力测试披露、私人信息生产和价格信息性

Banking & Insurance eJournal Pub Date : 2021-05-21 DOI: 10.2139/ssrn.3850954

A. Heitz, Barrett Wheeler

引用次数: 1