Twin Crises in Emerging Markets:
... (focus of their financial services) in the aftermath of crises. Our paper is also related to the literature that considers the role played by currency mismatches on firms’ balance sheets in shaping the real effects of devaluations. Christiano et al. (2002) study how a nominal exchange rate depreciat ...
... (focus of their financial services) in the aftermath of crises. Our paper is also related to the literature that considers the role played by currency mismatches on firms’ balance sheets in shaping the real effects of devaluations. Christiano et al. (2002) study how a nominal exchange rate depreciat ...
The Irresistible Case for Moveable Collateral
... As of 2008 there are more than 70 countries with a unified registry system for all security rights in moveable property.3 World Bank Enterprise Surveys (2001-2005) covering firms in more than 60 low and middle-income countries indicated that 44% of corporate assets were in machinery compared wit ...
... As of 2008 there are more than 70 countries with a unified registry system for all security rights in moveable property.3 World Bank Enterprise Surveys (2001-2005) covering firms in more than 60 low and middle-income countries indicated that 44% of corporate assets were in machinery compared wit ...
Monetary transmission under competing corporate finance regimes
... channel matters for monetary transmission. Second, we wish to examine the role of imperfect beliefs and stock markets for credit- and business cycle fluctuations. Finally, our ultimate aim is to answer a broader (long-standing) issue of whether monetary policy is more effective in generating and su ...
... channel matters for monetary transmission. Second, we wish to examine the role of imperfect beliefs and stock markets for credit- and business cycle fluctuations. Finally, our ultimate aim is to answer a broader (long-standing) issue of whether monetary policy is more effective in generating and su ...
Lender of Last Resort: An Examination of the Federal Reserve`s
... PDCF terms were based on the degree of over-collateralization of the transactions. Given this observation, I use a regression model to uncover the factors that accounted for the differences in the over-collateralization. The primary dimension along which transaction terms differed was the degree of ...
... PDCF terms were based on the degree of over-collateralization of the transactions. Given this observation, I use a regression model to uncover the factors that accounted for the differences in the over-collateralization. The primary dimension along which transaction terms differed was the degree of ...
Financial Intermediation and Endogenous Growth
... economize on liquid reserve holdings that do not contribute to capital accumulation. Or, more specifically, banks reduce investment in liquid assets relative to the situation in an economy lacking intermediaries where each individual must self-insure against unpredictable liquidity needs. And finall ...
... economize on liquid reserve holdings that do not contribute to capital accumulation. Or, more specifically, banks reduce investment in liquid assets relative to the situation in an economy lacking intermediaries where each individual must self-insure against unpredictable liquidity needs. And finall ...
Characteristics determining the efficiency of Foreign Banks in Australia
... The stylised facts relating to cross-border banking generally conclude that in developed nations foreign banks generally under-perform their domestic counter-parts, with the opposite occurring in developing nations (Berger, et al., 2000). Further, Berger, et al. (2000) find that banks from some deve ...
... The stylised facts relating to cross-border banking generally conclude that in developed nations foreign banks generally under-perform their domestic counter-parts, with the opposite occurring in developing nations (Berger, et al., 2000). Further, Berger, et al. (2000) find that banks from some deve ...
Principles of Economics
... Initially, monetary expansion leads to output above full employment. The demand for money increases, leading to a higher interest rate. The increase of interest rate will decrease the investment, which will return the GDP back to the full-employment level. ...
... Initially, monetary expansion leads to output above full employment. The demand for money increases, leading to a higher interest rate. The increase of interest rate will decrease the investment, which will return the GDP back to the full-employment level. ...
Davis E P and Salo S
... “Engineering” excess capacity is closely related to the concept of the “output gap” in macroeconomics, measured on the “short term” assumption that the supply of factors of production labour and capital - is fixed. In the “output gap” paradigm, excess capacity emerges at a macroeconomic level when a ...
... “Engineering” excess capacity is closely related to the concept of the “output gap” in macroeconomics, measured on the “short term” assumption that the supply of factors of production labour and capital - is fixed. In the “output gap” paradigm, excess capacity emerges at a macroeconomic level when a ...
Balancing the Banks: Global Lessons from the Financial Crisis
... observed for other institutions with small, dispersed debtholders such as insurance companies and pension funds. Dewatripont and Tirole (1994) discuss in detail the specifics of these institutions and their differences from other financial and nonfinancial institutions that are much more lightly reg ...
... observed for other institutions with small, dispersed debtholders such as insurance companies and pension funds. Dewatripont and Tirole (1994) discuss in detail the specifics of these institutions and their differences from other financial and nonfinancial institutions that are much more lightly reg ...
Regional Review Nursing shortage Not enough
... Federal Reserve System the authority to set initial margin requirements, the minimum equity required at the time a security is purchased. The Fed adopted Regulation T, limiting the size of broker-dealer loans to customers buying common stocks and equity-related securities (such as convertible bonds) ...
... Federal Reserve System the authority to set initial margin requirements, the minimum equity required at the time a security is purchased. The Fed adopted Regulation T, limiting the size of broker-dealer loans to customers buying common stocks and equity-related securities (such as convertible bonds) ...
Major banks analysis
... will increase its policy rate for the first time in nearly a decade. In addition, various other global economic factors could have a significant impact. These include the trajectory of global oil prices and other commodity prices, Greece’s future within the Eurozone and asset market and growth condi ...
... will increase its policy rate for the first time in nearly a decade. In addition, various other global economic factors could have a significant impact. These include the trajectory of global oil prices and other commodity prices, Greece’s future within the Eurozone and asset market and growth condi ...
Did the Commercial Funding Paper Facility Prevent a Great
... This paper assesses whether Federal Reserve and Treasury efforts to improve liquidity conditions in money markets helped stabilize the use of commercial paper during the recent financial crisis. It does this primarily by analyzing the relative use of commercial paper versus bank loans during the re ...
... This paper assesses whether Federal Reserve and Treasury efforts to improve liquidity conditions in money markets helped stabilize the use of commercial paper during the recent financial crisis. It does this primarily by analyzing the relative use of commercial paper versus bank loans during the re ...
Why did high productivity growth of banks precede the financial crisis?
... Diamond and Rajan (2009) consider as the proximate causes of the crisis: (i) investors perceived a permanent reduction in interest rates when Spain joined the Euro zone, (ii) there was an unprecedented expansion of the housing industry and (iii) banks financed a good part of the loans with wholesale ...
... Diamond and Rajan (2009) consider as the proximate causes of the crisis: (i) investors perceived a permanent reduction in interest rates when Spain joined the Euro zone, (ii) there was an unprecedented expansion of the housing industry and (iii) banks financed a good part of the loans with wholesale ...
Capital requirements under Basel III and their impact on the banking
... during periods of lower capital ratios, greater risk has been taken on, and to what extent any potential correlation is due to a causal relationship between the two variables. The long-term evidence provided by Berger et al. (1995) and Kashyap et al. (2010) for the United States shows that capital r ...
... during periods of lower capital ratios, greater risk has been taken on, and to what extent any potential correlation is due to a causal relationship between the two variables. The long-term evidence provided by Berger et al. (1995) and Kashyap et al. (2010) for the United States shows that capital r ...
The Mega-banks are Too Big to Fail, Too Big to Jail
... the customer, the bank offers a convenient and safe way to manage money by withdrawing funds through a teller, ATM, debit card or check. But there’s also a darker side to this routine exercise. Many depositors may be oblivious to the fact that they are actually lending JPMorgan money. Even if they u ...
... the customer, the bank offers a convenient and safe way to manage money by withdrawing funds through a teller, ATM, debit card or check. But there’s also a darker side to this routine exercise. Many depositors may be oblivious to the fact that they are actually lending JPMorgan money. Even if they u ...
Appendix 3
... lending may be a suitable choice as a reference rate. A single rate should be used for transactions in the domestic currency, whereas different rates should be applied for loans and deposits in other currencies. The reference rate will change over time with market conditions. A3.8 This is closely si ...
... lending may be a suitable choice as a reference rate. A single rate should be used for transactions in the domestic currency, whereas different rates should be applied for loans and deposits in other currencies. The reference rate will change over time with market conditions. A3.8 This is closely si ...
US Money Fund Exposure to European Banks
... Drivers of U.S. MMF Exposure to European Banks There are several macro factors that help to explain the significant exposure of U.S. MMFs to European bank issuers. • Need for Dollar Funding: The dollar-denominated assets of European banks have grown rapidly over the past decade. Dollar-based Europe ...
... Drivers of U.S. MMF Exposure to European Banks There are several macro factors that help to explain the significant exposure of U.S. MMFs to European bank issuers. • Need for Dollar Funding: The dollar-denominated assets of European banks have grown rapidly over the past decade. Dollar-based Europe ...
Who Regulates Whom and How? An Overview of U.S. Financial
... Financial regulatory policies are of interest to Congress because firms, consumers, and governments fund many of their activities through banks and securities markets. Furthermore, financial instability can damage the broader economy. Financial regulation is intended to protect borrowers and investo ...
... Financial regulatory policies are of interest to Congress because firms, consumers, and governments fund many of their activities through banks and securities markets. Furthermore, financial instability can damage the broader economy. Financial regulation is intended to protect borrowers and investo ...
Orion Monetary System 24. Pitfalls and Fallacies of the
... financial system to deepen the psychological conviction of incarnated human entities that they are separated from the Whole and thus an easy prey to unpredictable chaotic events. Money is considered to be the only save haven in the 3d-reality and in this context the only goal of human existence. Mon ...
... financial system to deepen the psychological conviction of incarnated human entities that they are separated from the Whole and thus an easy prey to unpredictable chaotic events. Money is considered to be the only save haven in the 3d-reality and in this context the only goal of human existence. Mon ...
HMT1355 - Sukuk Banking Sevices notice
... being an individual is not bankrupt or has not had a receiving order or administration order or bankruptcy restrictions order made against him or has not made any composition or arrangement with or for the benefit of his creditors or has not made any conveyance or assignment for the benefit of his c ...
... being an individual is not bankrupt or has not had a receiving order or administration order or bankruptcy restrictions order made against him or has not made any composition or arrangement with or for the benefit of his creditors or has not made any conveyance or assignment for the benefit of his c ...
Credit Risk Transfer Practices in US Commercial Banks
... In an attempt to overcome this limitation, we compute the net credit protection purchased as the ratio between net credit protection (gross protection bought - gross protection sold) and the gross protection purchased. If the ratio is greater than 0.5 (i.e. the protection bought is at least twice as ...
... In an attempt to overcome this limitation, we compute the net credit protection purchased as the ratio between net credit protection (gross protection bought - gross protection sold) and the gross protection purchased. If the ratio is greater than 0.5 (i.e. the protection bought is at least twice as ...
National Forum on the Payment System
... Thus the number of locations where bank customers may withdraw cash increased between 2006 and 2010. ...
... Thus the number of locations where bank customers may withdraw cash increased between 2006 and 2010. ...
ICAS 2015 Template
... Bank-specific or bank-characteristics data are collected from BankScope database. The sample dataset consists of 19 commercial banks in Malaysia over the period 2002-20111. The dataset compromises over 190 bank-year observations for each variable. We choose the year of 2002 as a beginning of the tim ...
... Bank-specific or bank-characteristics data are collected from BankScope database. The sample dataset consists of 19 commercial banks in Malaysia over the period 2002-20111. The dataset compromises over 190 bank-year observations for each variable. We choose the year of 2002 as a beginning of the tim ...
Visible and Hidden Risk Factors for Banks
... Our point of departure is the familiar capital asset pricing model (CAPM), which allows a simple decomposition of total variation of returns (a standard measure of risk) into a common, systematic portion and a firm-specific, idiosyncratic component. We expand this single-factor framework to include ...
... Our point of departure is the familiar capital asset pricing model (CAPM), which allows a simple decomposition of total variation of returns (a standard measure of risk) into a common, systematic portion and a firm-specific, idiosyncratic component. We expand this single-factor framework to include ...
2010:1 How has the Riksbank managed the financial crisis?
... against risks that can hit their own wallets directly, such incentives are not always sufficient to take full account of effects on third parties and society as a whole. As this type of external effect can be particularly significant in crises in the financial sector, the normal mechanisms of the ma ...
... against risks that can hit their own wallets directly, such incentives are not always sufficient to take full account of effects on third parties and society as a whole. As this type of external effect can be particularly significant in crises in the financial sector, the normal mechanisms of the ma ...
Bank
A bank is a financial intermediary that creates credit by lending money to a borrower, thereby creating a corresponding deposit on the bank's balance sheet. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.