Liberal Mercantilism: Exchange Rate Regimes, Foreign Currency
... their access to foreign exchange. This paper makes several contributions. Our state-centric viewpoint is a natural complement to the literature on the determinants of trade disputes, which typically views the decision to bring a dispute as a function of firms’ lobbying efforts, electoral concerns, o ...
... their access to foreign exchange. This paper makes several contributions. Our state-centric viewpoint is a natural complement to the literature on the determinants of trade disputes, which typically views the decision to bring a dispute as a function of firms’ lobbying efforts, electoral concerns, o ...
Is monetary policy less effective when interest rates are persistently
... lower bound. Moreover, to keep the paper’s scope manageable, we take as given the first link in the transmission mechanism: from the central bank’s instruments, including the policy rate, to other rates. The extensive literature on this question has already been reviewed elsewhere (eg Borio and Zab ...
... lower bound. Moreover, to keep the paper’s scope manageable, we take as given the first link in the transmission mechanism: from the central bank’s instruments, including the policy rate, to other rates. The extensive literature on this question has already been reviewed elsewhere (eg Borio and Zab ...
OPTIMUM LEVEL OF INTERNATIONAL RESERVES FOR
... increase. High reserve holdings with the central banks provide safe-guard against an impending financial crisis, improve the external position of a country and help to maintain international credit worthiness. At the same time, maintaining a high level of reserves is costly due to the opportunity co ...
... increase. High reserve holdings with the central banks provide safe-guard against an impending financial crisis, improve the external position of a country and help to maintain international credit worthiness. At the same time, maintaining a high level of reserves is costly due to the opportunity co ...
Financial Systems in Financial Crisis – An Analysis of Banking
... legally independent institutions, nine regionally oriented Landesbanken and a range of specialised institutions. The primary savings banks are owned by city or county governments, and their mission is to serve the public interest. While they should avoid making losses, they are not required to maxim ...
... legally independent institutions, nine regionally oriented Landesbanken and a range of specialised institutions. The primary savings banks are owned by city or county governments, and their mission is to serve the public interest. While they should avoid making losses, they are not required to maxim ...
Bank Profitability and Risk#Taking
... We explain it based purely on shareholder value maximization. In another extension, we consider the e¤ects of monetary policy on bank risk-taking. Loose monetary policy reduces the bank’s cost of funding, increasing its pro…tability. We show that this has two, opposite e¤ects on bank risk taking in ...
... We explain it based purely on shareholder value maximization. In another extension, we consider the e¤ects of monetary policy on bank risk-taking. Loose monetary policy reduces the bank’s cost of funding, increasing its pro…tability. We show that this has two, opposite e¤ects on bank risk taking in ...
Vo l u m e 6 5 ... C o n t e n t s
... territory, it is very difficult to identify a more specific optimal inflation target. There is also a significant body of literature that warns about the risks of deflation, and provides some arguments against including zero in an inflation target range, although there are questions about the applic ...
... territory, it is very difficult to identify a more specific optimal inflation target. There is also a significant body of literature that warns about the risks of deflation, and provides some arguments against including zero in an inflation target range, although there are questions about the applic ...
Monitoring Matters: Debt Seniority, Market Discipline and Bank
... average state bank’s return on equity increases by 4%. Are the effects we attribute to changes in the priority of the claim structure really causal? Using bankfixed effects that net out any unobserved time-invariant bank-specific heterogeneity mitigates omitted variable concerns. Likewise, state-qua ...
... average state bank’s return on equity increases by 4%. Are the effects we attribute to changes in the priority of the claim structure really causal? Using bankfixed effects that net out any unobserved time-invariant bank-specific heterogeneity mitigates omitted variable concerns. Likewise, state-qua ...
Do banks` overnight borrowing rates lead their CDS Price? evidence
... Note: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB ...
... Note: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB ...
DFG QUARTERLY review-THIRD quarter,2008
... working capital finance, 5.3% Fixed Investment and the rest Trade Finance. There has been a notable growth of 31.1% during the period Dec-05 to Dec-10 in the SME number of borrowers. ...
... working capital finance, 5.3% Fixed Investment and the rest Trade Finance. There has been a notable growth of 31.1% during the period Dec-05 to Dec-10 in the SME number of borrowers. ...
NBER WORKING PAPER SERIES PRACTICAL MONETARY POLICY: Lars E.O. Svensson
... argument focuses on the stabilization of economic growth rather than of resource utilization, another seems to call for mechanical revision of the policy rate path as outcomes diverge from forecasts, a third advocates using the policy rate to limit increases in household debt and housing prices, and ...
... argument focuses on the stabilization of economic growth rather than of resource utilization, another seems to call for mechanical revision of the policy rate path as outcomes diverge from forecasts, a third advocates using the policy rate to limit increases in household debt and housing prices, and ...
Identifying channels of credit substitution when bank capital
... cross-border credit from non-resident banks, or securities markets through higher amounts of debt and equity issuance. Unless regulators have a clear sense of the extent of leakage through multiple possible channels, they will not be able to gauge the extent to which leakages could interfere with th ...
... cross-border credit from non-resident banks, or securities markets through higher amounts of debt and equity issuance. Unless regulators have a clear sense of the extent of leakage through multiple possible channels, they will not be able to gauge the extent to which leakages could interfere with th ...
Monetary policy in albania: froM the past to the
... ignored competitiveness in one way or another. This means that the crisis will last for some time. Even after the new foundations for the euro are established and more and more countries adopt this currency, it may hardly be said that the crisis is over. Not at all! This is a long-term crisis, which ...
... ignored competitiveness in one way or another. This means that the crisis will last for some time. Even after the new foundations for the euro are established and more and more countries adopt this currency, it may hardly be said that the crisis is over. Not at all! This is a long-term crisis, which ...
Measuring and forecasting stress in the banking sector
... what is the present condition of the banking sector, and how will it evolve in the medium term? The first aim of this paper is to develop a “stress index”, summarising the current condition of the Swiss banking sector in one single measure. The second goal is to forecast the stress index with the in ...
... what is the present condition of the banking sector, and how will it evolve in the medium term? The first aim of this paper is to develop a “stress index”, summarising the current condition of the Swiss banking sector in one single measure. The second goal is to forecast the stress index with the in ...
Macroeconomics Chamberlin and Yueh
... into a very sudden and sharp devaluation when defending the parity becomes impossible or too costly. The recent prevalence of currency crises has been linked to the international foreign exchange markets. • Recent currency crises of note which will be discussed are: – The Latin American crisis, 1981 ...
... into a very sudden and sharp devaluation when defending the parity becomes impossible or too costly. The recent prevalence of currency crises has been linked to the international foreign exchange markets. • Recent currency crises of note which will be discussed are: – The Latin American crisis, 1981 ...
World Islamic Banking Competitiveness Report
... the intensification of the industry’s internationalisation highlight the dynamic nature of the industry and underscore the increasing efforts of Islamic financial institutions to meet the growing demands of a global economy. However, in order to sustain growth over the long term, there is a need to ...
... the intensification of the industry’s internationalisation highlight the dynamic nature of the industry and underscore the increasing efforts of Islamic financial institutions to meet the growing demands of a global economy. However, in order to sustain growth over the long term, there is a need to ...
Volume 72 No. 3, September 2009 Contents
... economic environment, the difference in risk between two particular loans may appear small, but in an economic downturn, the difference in risk could be significant. Banks should measure risk in the context of an economic downturn, which is also when the capital is most needed. ...
... economic environment, the difference in risk between two particular loans may appear small, but in an economic downturn, the difference in risk could be significant. Banks should measure risk in the context of an economic downturn, which is also when the capital is most needed. ...
DETERMINANTS OF PREMIUMS PAID IN EUROPEAN BANKING
... moment when they were performed, the sample analysed and the methodology involved. In fact, many of these works have focused on quite limited samples, not performing an analysis on the wave of mergers and acquisitions that took place during the 1990s, since data used for most studies date from the 1 ...
... moment when they were performed, the sample analysed and the methodology involved. In fact, many of these works have focused on quite limited samples, not performing an analysis on the wave of mergers and acquisitions that took place during the 1990s, since data used for most studies date from the 1 ...
MAS Notice 1015 Minimum Liquid Assets and Liquidity Coverage
... f) any debt securities or sukuk denominated in the relevant currency or currencies, not being a sukuk which is a liquid asset by virtue of sub-paragraph (c), and not being a debt security or sukuk defined in sub-paragraph (e), that are — i) issued by a statutory board in Singapore, with a minimum i ...
... f) any debt securities or sukuk denominated in the relevant currency or currencies, not being a sukuk which is a liquid asset by virtue of sub-paragraph (c), and not being a debt security or sukuk defined in sub-paragraph (e), that are — i) issued by a statutory board in Singapore, with a minimum i ...
Commodity Prices and Monetary Policy in Emerging East Asia
... slower output growth. Higher interest rates would restrain rising inflation by lowering domestic demand, but also hurt output growth. Many central banks were uncertain how to respond. The challenge was rather a new experience: for a long time, monetary policy played a supportive role to economic gro ...
... slower output growth. Higher interest rates would restrain rising inflation by lowering domestic demand, but also hurt output growth. Many central banks were uncertain how to respond. The challenge was rather a new experience: for a long time, monetary policy played a supportive role to economic gro ...
Bank structural reform study: Supplementary report 1
... rating for the financial institutions they cover 7 – and essentially uses the differences between the two ratings to estimate the level of government support. While credit rating based approaches provide useful evidence on credit risk exposure and the level of implied government support for individu ...
... rating for the financial institutions they cover 7 – and essentially uses the differences between the two ratings to estimate the level of government support. While credit rating based approaches provide useful evidence on credit risk exposure and the level of implied government support for individu ...
The Impact of Banking Sector Stability on the Real Economy | PDF
... and New Zealand have been excluded because we could not get data for at least 5 banks. ...
... and New Zealand have been excluded because we could not get data for at least 5 banks. ...
Making a difference - Bank of The Bahamas
... as it was able to announce an oversubscribed rights offering of $25 million in late 2005 and a subsequent $15 million private placement preference share offering in 2006. The Authorized Capital of the Bank is at 25,000,000 Shares of B$1 par value. By expanding its capital and continuously upgrading se ...
... as it was able to announce an oversubscribed rights offering of $25 million in late 2005 and a subsequent $15 million private placement preference share offering in 2006. The Authorized Capital of the Bank is at 25,000,000 Shares of B$1 par value. By expanding its capital and continuously upgrading se ...
24 February 2017 - RBS: Investor relations
... (1) Source: Charterhouse Research, Business Banking Survey – Q4 2016, Commercial Banking £2m1bn (combination of NatWest and Royal Bank of Scotland in GB), Base: claimed main bank, Data is 4 quarterly rolling and weighted by Region & Turnover to be representative of businesses in GB, Latest base size ...
... (1) Source: Charterhouse Research, Business Banking Survey – Q4 2016, Commercial Banking £2m1bn (combination of NatWest and Royal Bank of Scotland in GB), Base: claimed main bank, Data is 4 quarterly rolling and weighted by Region & Turnover to be representative of businesses in GB, Latest base size ...
Large Canadian Banks Q2 2017 Earnings Round-Up
... By segment on an adjusted basis, Canadian Banking net income decreased 1% QoQ, mainly because of lower net interest income as there were three fewer days in this quarter. International Banking income was up 3% QoQ, driven by strong asset growth and higher net interest margin. Similarly, on a YoY bas ...
... By segment on an adjusted basis, Canadian Banking net income decreased 1% QoQ, mainly because of lower net interest income as there were three fewer days in this quarter. International Banking income was up 3% QoQ, driven by strong asset growth and higher net interest margin. Similarly, on a YoY bas ...
Too Many To Fail: The Effect of Regulatory Forbearance on Market
... a substantially high level. In other words, depositors prefer enjoying the high-interest income provided by failing banks to withdrawing their funds from those banks, as long as they believe that enough time remains to withdraw their deposits before the bank is closed by the regulator’s order. This ...
... a substantially high level. In other words, depositors prefer enjoying the high-interest income provided by failing banks to withdrawing their funds from those banks, as long as they believe that enough time remains to withdraw their deposits before the bank is closed by the regulator’s order. This ...
History of the Federal Reserve System
This article is about the history of the United States Federal Reserve System from its creation to the present.