Monetary Policy and the Zero Bound
... To see the problems posed by the zero bound, it is helpful to briefly consider how monetary policy operates. Generally speaking, central banks implement monetary policy by altering the price and quantity of reserve or settlement balances held by depository institutions at the central bank. For examp ...
... To see the problems posed by the zero bound, it is helpful to briefly consider how monetary policy operates. Generally speaking, central banks implement monetary policy by altering the price and quantity of reserve or settlement balances held by depository institutions at the central bank. For examp ...
The Office of The Comptroller of the Currency
... Disclosure Services, Communications Division Office of the Comptroller of the Currency 400 7th Street, SW Washington, DC 20219. ...
... Disclosure Services, Communications Division Office of the Comptroller of the Currency 400 7th Street, SW Washington, DC 20219. ...
Capital regulation in a macroeconomic model with three layers of
... is generally an optimal level of capital requirements. In effect, capital requirements reduce bank leverage, bank failure risk and the implicit subsidies associated with deposit insurance. Simultaneously, they force the banks to make a greater use of bankers’ limited wealth. This second aspect makes ...
... is generally an optimal level of capital requirements. In effect, capital requirements reduce bank leverage, bank failure risk and the implicit subsidies associated with deposit insurance. Simultaneously, they force the banks to make a greater use of bankers’ limited wealth. This second aspect makes ...
Aareal Bank Group – Interim Report Q1/2015
... the two existing programmes to buy asset-backed securities (ABS) and covered bonds, the aggregate volume of the ECB’s buying programmes amounts to € 60 billion each month. The ECB’s sovereign bond purchases started in March and are set to continue at least until September 2016; in any case, ...
... the two existing programmes to buy asset-backed securities (ABS) and covered bonds, the aggregate volume of the ECB’s buying programmes amounts to € 60 billion each month. The ECB’s sovereign bond purchases started in March and are set to continue at least until September 2016; in any case, ...
Internal Finance versus Bank Debt
... money.3 This is in accordance with empirical evidence by Sprenkle (1969), who finds that only a small proportion of actual cash balances held by corporations can be explained by a simple transactions model of the Baumol-Tobin type. There has not been much progress on this issue. Goodhart (1989, p.74 ...
... money.3 This is in accordance with empirical evidence by Sprenkle (1969), who finds that only a small proportion of actual cash balances held by corporations can be explained by a simple transactions model of the Baumol-Tobin type. There has not been much progress on this issue. Goodhart (1989, p.74 ...
Journal of Financial Stability A theory of systemic risk and design of
... V.V. Acharya / Journal of Financial Stability 5 (2009) 224–255 ...
... V.V. Acharya / Journal of Financial Stability 5 (2009) 224–255 ...
Risk Incentives in an Interbank Network
... I develop a model of endogenous formation of mutual exposures between financial institutions. These institutions are subject to a fundamental maturity mismatch problem: they hold (risky) long-term assets, and short-term fixed rate liabilities (such as demandable deposits). Idiosyncratic liquidity an ...
... I develop a model of endogenous formation of mutual exposures between financial institutions. These institutions are subject to a fundamental maturity mismatch problem: they hold (risky) long-term assets, and short-term fixed rate liabilities (such as demandable deposits). Idiosyncratic liquidity an ...
Volume 72 No. 1, March 2009 Contents
... the importance of housing equity withdrawal – a process ...
... the importance of housing equity withdrawal – a process ...
The United Kingdom`s quantitative easing policy
... extent that they change agents’ expectations of the future path of policy rates (see, for example, Eggertsson and Woodford (2003)). Asset purchases on their own do not change behaviour because the assumptions made imply the distinction between public and private asset holdings is unimportant. But in ...
... extent that they change agents’ expectations of the future path of policy rates (see, for example, Eggertsson and Woodford (2003)). Asset purchases on their own do not change behaviour because the assumptions made imply the distinction between public and private asset holdings is unimportant. But in ...
DNB Bank International Bond Portfolio
... Norway with registration number NO 984 851 006 (the Register of Business Enterprises) under supervision of the Financial Supervisory Authority of Norway (Finanstilsynet), Monetary Authority of Singapore, the Chilean Superintendent of Banks, and on a limited basis by the Financial Services Authority ...
... Norway with registration number NO 984 851 006 (the Register of Business Enterprises) under supervision of the Financial Supervisory Authority of Norway (Finanstilsynet), Monetary Authority of Singapore, the Chilean Superintendent of Banks, and on a limited basis by the Financial Services Authority ...
FDIC`s Expanded Role in Bank Holding Company Insolvencies
... downstreamed assets, were placed into FDIC receiverships. The next business day, with hundreds of millions of dollars in debt and most of its assets in the coffers of the FDIC, BNEC filed for Chapter 7 bankruptcy protection. The events that unfolded in connection with the failure of the BNEC syste ...
... downstreamed assets, were placed into FDIC receiverships. The next business day, with hundreds of millions of dollars in debt and most of its assets in the coffers of the FDIC, BNEC filed for Chapter 7 bankruptcy protection. The events that unfolded in connection with the failure of the BNEC syste ...
NOVEMBE R 2015 - Institute of Bankers in Malawi
... A bank Manager decided to check the accuracy of data posting in its system. Posting is done by three members of staff: Bamuswe, Katete and Tivine. A sample of 10,000 transactions was selected. 3,000 were posted by Bamuswe, 2,500 by Katete and 4,500 by Tivine. The error rates for Bamuswe, Katete and ...
... A bank Manager decided to check the accuracy of data posting in its system. Posting is done by three members of staff: Bamuswe, Katete and Tivine. A sample of 10,000 transactions was selected. 3,000 were posted by Bamuswe, 2,500 by Katete and 4,500 by Tivine. The error rates for Bamuswe, Katete and ...
Fitch ratings: ING Bank NV Full rating report
... are not fully fungible within ING Bank. In particular, there has been increased regulatory caution around cross-border flows of customer deposits from deposit-rich jurisdictions (such as Belgium and Germany) to foreign parent banks. The implementation of the Banking Union within the eurozone would b ...
... are not fully fungible within ING Bank. In particular, there has been increased regulatory caution around cross-border flows of customer deposits from deposit-rich jurisdictions (such as Belgium and Germany) to foreign parent banks. The implementation of the Banking Union within the eurozone would b ...
Turkish Banking Sector`s Profitability Factors
... study. The study also revealed that non-interest income, non-interest expense, bank's capital strength, natural log of total assets, growth of money supply, and annual rate of inflation are significant key drivers of banks’ profitability in Ghana. However, the size of the Ghanaian economy and loan l ...
... study. The study also revealed that non-interest income, non-interest expense, bank's capital strength, natural log of total assets, growth of money supply, and annual rate of inflation are significant key drivers of banks’ profitability in Ghana. However, the size of the Ghanaian economy and loan l ...
GMAC Demand Notes – What`s the Risk
... investment grade status for its debt if it were a stand alone entity. However, issues with the parent company have tarnished GMAC’s credit rating. This reality is not lost on GM management, which has publicly acknowledged that it may sell all or part of GMAC. Were GMAC to be sold, any risk in owning ...
... investment grade status for its debt if it were a stand alone entity. However, issues with the parent company have tarnished GMAC’s credit rating. This reality is not lost on GM management, which has publicly acknowledged that it may sell all or part of GMAC. Were GMAC to be sold, any risk in owning ...
Exploring Special Purpose National Bank Charters for Fintech
... acquisition is significantly lower than a traditional bank’s cost of loan acquisition, this can partially offset the traditional bank’s cost of funds advantage. The UI/UX improved process is not a function of the national bank charter but rather of the fintech application of new technology, so full- ...
... acquisition is significantly lower than a traditional bank’s cost of loan acquisition, this can partially offset the traditional bank’s cost of funds advantage. The UI/UX improved process is not a function of the national bank charter but rather of the fintech application of new technology, so full- ...
Resolving Large Financial Intermediaries: Banks Versus
... Key Congressional committees have recently devoted considerable attention to the organizational structure and powers of the supervisor of Fannie Mae and Freddie Mac.1 According to press accounts, one of the most contentious issues in that debate is whether the supervisor should have receivership pow ...
... Key Congressional committees have recently devoted considerable attention to the organizational structure and powers of the supervisor of Fannie Mae and Freddie Mac.1 According to press accounts, one of the most contentious issues in that debate is whether the supervisor should have receivership pow ...
The role of the central bank balance sheet in monetary policy
... banks engaged in a number of operations as the ultimate provider of funding reassurance, providing liquidity to their respective banking sectors. This type of central bank intervention was aimed at reducing interbank market spreads, but also helped to improve overall market functioning and to restor ...
... banks engaged in a number of operations as the ultimate provider of funding reassurance, providing liquidity to their respective banking sectors. This type of central bank intervention was aimed at reducing interbank market spreads, but also helped to improve overall market functioning and to restor ...
TREASURY BILLS What is a Treasury Bill?
... Government through the Central Bank of Kenya (as a fiscal agent) to raise money on short term basis – for a period of up to 1 year. Treasury bills are issued in maturities of 91, 182 and 364 days. Treasury bills are sold at a discounted price to reflect investor‟s return and redeemed at face (par) v ...
... Government through the Central Bank of Kenya (as a fiscal agent) to raise money on short term basis – for a period of up to 1 year. Treasury bills are issued in maturities of 91, 182 and 364 days. Treasury bills are sold at a discounted price to reflect investor‟s return and redeemed at face (par) v ...
Limited Commitment and Central Bank Lending
... financial indicators—minimum net worth, minimum working capital, or maximum leverage ratio, for example. Other covenants restrict the disposition of assets or the issuance of other debt. Loan commitment agreements also generally contain a clause that allows the bank to declare a default in the event ...
... financial indicators—minimum net worth, minimum working capital, or maximum leverage ratio, for example. Other covenants restrict the disposition of assets or the issuance of other debt. Loan commitment agreements also generally contain a clause that allows the bank to declare a default in the event ...
Why are Central Banks Delegated Macroprudential Responsibilities?
... From this perspective, no agency is better placed to resist such political and social pressures than the central bank because of its track record in delivering relatively stable prices as an independent institution. Furthermore, since credibility cannot be created at a stroke of a pen but takes a lo ...
... From this perspective, no agency is better placed to resist such political and social pressures than the central bank because of its track record in delivering relatively stable prices as an independent institution. Furthermore, since credibility cannot be created at a stroke of a pen but takes a lo ...
Identifying systemically important financial institutions
... The failure of a single financial institution has the potential to spark catastrophic losses in local, regional, and global financial systems. The global financial crisis initiated in 2008 has provided an example. Measures taken by the US government, in the onset of the crisis, attempted to save lar ...
... The failure of a single financial institution has the potential to spark catastrophic losses in local, regional, and global financial systems. The global financial crisis initiated in 2008 has provided an example. Measures taken by the US government, in the onset of the crisis, attempted to save lar ...
The Effects of Bank Market Power in Short-Term and Long
... likelihood of bank branches providing bank credit. This result confirms that the nonmonotonic effect of market concentration is robust to controlling for the presence of local credit markets for banks with multiple contacts. Presbitero and Zazzaro (2011) extend their analysis by suggesting that thi ...
... likelihood of bank branches providing bank credit. This result confirms that the nonmonotonic effect of market concentration is robust to controlling for the presence of local credit markets for banks with multiple contacts. Presbitero and Zazzaro (2011) extend their analysis by suggesting that thi ...
Research Italy No `Italexit` in the case of a `No` in
... happened in 2011 when Mario Monti replaced Silvio Berlusconi or grant someone else the right to form a government. If the other parties in the governing coalition support such a move, the caretaker government would then take over until the next scheduled general election in 2018. However, given that ...
... happened in 2011 when Mario Monti replaced Silvio Berlusconi or grant someone else the right to form a government. If the other parties in the governing coalition support such a move, the caretaker government would then take over until the next scheduled general election in 2018. However, given that ...
Too Big To Fail Or To Save? Evidence from the
... risk, namely the contribution of an individual bank to the system’s risk, measured by ∆CoV aR as proposed by Adrian and Brunnermeier (2011). Once we control for the TSTF phenomenon, we can identify the effect of being too big to save by a bank’s size relative to GDP. In addition to measuring the ove ...
... risk, namely the contribution of an individual bank to the system’s risk, measured by ∆CoV aR as proposed by Adrian and Brunnermeier (2011). Once we control for the TSTF phenomenon, we can identify the effect of being too big to save by a bank’s size relative to GDP. In addition to measuring the ove ...
Bank of England
The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world, after the Sveriges Riksbank, and the world's 8th oldest bank. It was established to act as the English Government's banker, and is still the banker for the Government of the United Kingdom. The Bank was privately owned by stockholders from its foundation in 1694 until nationalised in 1946.In 1998, it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with independence in setting monetary policy.The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, but has a monopoly on the issue of banknotes in England and Wales and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland.The Bank's Monetary Policy Committee has devolved responsibility for managing monetary policy. The Treasury has reserve powers to give orders to the committee ""if they are required in the public interest and by extreme economic circumstances"" but such orders must be endorsed by Parliament within 28 days. The Bank's Financial Policy Committee held its first meeting in June 2011 as a macro prudential regulator to oversee regulation of the UK's financial sector.The Bank's headquarters have been in London's main financial district, the City of London, on Threadneedle Street, since 1734. It is sometimes known by the metonym The Old Lady of Threadneedle Street or The Old Lady, a name taken from the legend of Sarah Whitehead, whose ghost is said to haunt the Bank's garden. The busy road junction outside is known as Bank junction.Mark Carney assumed the post of The Governor of the Bank of England on 1 July 2013. He succeeded Mervyn King, who took over on 30 June 2003. Carney, a Canadian, will serve an initial five-year term rather than the typical eight, and will seek UK citizenship. He is the first non-British citizen to hold the post. As of January 2014, the Bank also has four Deputy Governors.