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Managing the Sovereign-Bank Nexus

2018-09-07 Business & Economics
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Release : 2018-09-07
Genre : Business & Economics
Kind : eBook
Book Rating : 548/5 ( reviews)

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Book Synopsis Managing the Sovereign-Bank Nexus by : Mr.Giovanni Dell'Ariccia

Download or read book Managing the Sovereign-Bank Nexus written by Mr.Giovanni Dell'Ariccia. This book was released on 2018-09-07. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.

Managing the Sovereign-bank Nexus

2018
Download Managing the Sovereign-bank Nexus PDF Online Free

Author :
Release : 2018
Genre :
Kind : eBook
Book Rating : 820/5 ( reviews)

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Book Synopsis Managing the Sovereign-bank Nexus by :

Download or read book Managing the Sovereign-bank Nexus written by . This book was released on 2018. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies the various channels that give rise to a "sovereign-bank nexus" whereby the financial health of banks and sovereigns is intertwined. We find that banks and sovereigns are linked by three interacting channels: banks hold large amounts of sovereign debt; banks are protected by government guarantees; and the health of banks and governments affect and is affected by economic activity. Evidence suggests that all three channels are relevant. The paper concludes with a discussion of the policy implications of these findings.

Banks, Government Bonds, and Default

2014-07-08 Business & Economics
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Release : 2014-07-08
Genre : Business & Economics
Kind : eBook
Book Rating : 990/5 ( reviews)

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Book Synopsis Banks, Government Bonds, and Default by : Nicola Gennaioli

Download or read book Banks, Government Bonds, and Default written by Nicola Gennaioli. This book was released on 2014-07-08. Available in PDF, EPUB and Kindle. Book excerpt: We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks increase their exposure to public bonds, especially large banks and when expected bond returns are high. At the bank level, bondholdings correlate negatively with subsequent lending during sovereign defaults. This correlation is mostly due to bonds acquired in pre-default years. These findings shed light on alternative theories of the sovereign default-banking crisis nexus.

From Banking to Sovereign Stress - Implications For Public Debt

2014-12-22 Business & Economics
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Release : 2014-12-22
Genre : Business & Economics
Kind : eBook
Book Rating : 434/5 ( reviews)

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Book Synopsis From Banking to Sovereign Stress - Implications For Public Debt by : International Monetary Fund

Download or read book From Banking to Sovereign Stress - Implications For Public Debt written by International Monetary Fund. This book was released on 2014-12-22. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how banking sector developments and characteristics influence the propagation of risks from the banking sector to sovereign debt, including how they affect the extent of fiscal costs of banking crises when those occur. It then proposes practices and policies for the fiscal authorities to help manage the risks and enhance crisis preparedness.

The Nonbank-Bank Nexus and the Shadow Banking System

2011-12-01 Business & Economics
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Release : 2011-12-01
Genre : Business & Economics
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Book Rating : 231/5 ( reviews)

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Book Synopsis The Nonbank-Bank Nexus and the Shadow Banking System by : Mr.Zoltan Pozsar

Download or read book The Nonbank-Bank Nexus and the Shadow Banking System written by Mr.Zoltan Pozsar. This book was released on 2011-12-01. Available in PDF, EPUB and Kindle. Book excerpt: The present way of thinking about financial intermediation does not fully incorporate the rise of asset managers as a major source of funding for banks through the shadow banking system. Asset managers are dominant sources of demand for non-M2 types of money and serve as source collateral ?mines' for the shadow banking system. Banks receive funding through the re-use of pledged collateral ?mined' from asset managers. Accounting for this, the size of the shadow banking system in the U.S. may be up to $25 trillion at year-end 2007 and $18 trillion at year-end 2010, higher than earlier estimates. In terms of policy, regulators will need to consider the re-use of pledged collateral when defining bank leverage ratios. Also, given asset managers' demand for non-M2 types of money, monitoring the shadow banking system will warrant closer attention well beyond the regulatory perimeter.

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