Bank credit, asset prices and financial stability: Evidence from French banks pot

... 0.55Government bond yield spread 0.55Libor-OIS spread 0.43WP/12/103 Bank credit, asset prices and financial stability: Evidence from French banks Cyril Pouvelle 19 ittitititittttitttitGroupGroupGroupGroupGroupGrouprNPLSizeDLeviInflPDGLalStocksL6543)()()()(21)()()()()()()(Re171615141312111101981765413210 ... Monetary Fund WP/ 12/103 IMF Working Paper European Department Bank credit, asset prices and financial stability: Evidence from French banks 1 Prepared by Cyril Pouvelle Authorized for distribution ... total assets of all banks in percent, taken at each period. This ratio is meant to avoid spurious correlation stemming from a time trend in banks assets. We expect a negative sign, as small banks...

Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record ppt

... member banks, from the Fed’s Banking and Monetary Statisti c s,1914-1941 No. 18, All Member banks- Principal assets, “Loans” p. 72-74. Thedata were pushed forward to 1955 Q4 using the data from Banking ... using national and state bank data. The national bank data came from the NBER seri e s, adding up NBER 14016, Loans and Discounts,national banks, country districts, NBER 14018, Loans and discounts, ... bank data comes from Millen i al Statistics, Cj151, State banks, Loans and discounts. It was made quarterly by linear interpolation. The stat e and national bank numbers were added together and...

Payoﬀ Complementarities and Financial Fragility: Evidence from Mutual Fund Outﬂows potx

... as banks and insurance companies, business corporations (excludingretirement plans that are considered employee assets), nonprofit organizations (including state and local gov ernments), and ... empirical banking-crises literature (Gorton (1988), Calomiris and Mason (1997), Schumacher(2000), Martinez-Peria and Schmukler (2001), and Calomiris and Mason (2003)) that argues thatwithdrawals from ... available from the M orningstar, but not from the C RSP database.205 Hypothesis Testing5.1 Hypothesis 1: The effect of liquidit y5.1.1 OverviewAs discussed in Section 3, our first hypothesis...

Tài liệu Central bank governance and financial stability: A report by a Study Group doc

... II). The only mandate held by almost all central banks in the group was the oversight of payment systems. The Bank of Thailand was one of the few central banks that had the mandate and powers ahead ... Philippines, Thailand and the United States, it is notable how much more widespread central bank mandates to (potentially) support Table 4 Financial stability related mandates of central banks in 2009(The ... full Banks Payment systems Financial systemIntermediateyjSource: BIS survey of participating central banks, conducted in 2009BIS: Central bank governance and nancial stability7Financial...

Tài liệu IMF Working Paper_ Corporate Financial Structure and Financial Stability pptx

... Impact of Crisis on the Level and Composition of GDP 12 B. Corporate Financial Structure and Impact of Crisis on GDP 14 V. Corporate Financial Structure and Financial Stability: Econometric Analysis ... Shocks—Some Evidence from the Flow of Funds,” Review of Economics and Statistics, Vol. 78, pp. 16–34. Davis, E. Philip, 1995, Debt, Financial Fragility and Systemic Risk revised and expanded version, ... Tobin Bank 5 n.a. 4 Currency 12 n.a. 11 Jorgensen Bank 14 5 9 Currency 36 7 29 Inventories Bank 15 5 10 Currency 40 8 31 Bank lending Bank 10 5 5 Currency 20 8 12 Bond issuance Bank...

Tài liệu FOREIGN BANK ENTRY AND BUSINESS VOLATILITY: EVIDENCE FROM U.S. STATES AND OTHER COUNTRIES docx

... Iyigun, and Owen (2002) find that GDP volatility and financial development arenegatively related.11 financial depth), the average bank capital -asset ratio (a measure of bank financial strength), and ... country’s banks does not incorporateintegration in which banks headquartered in one country own substantial bank assets outside that country. So, for example, a country like Spain, with itslargest banks ... integration stemming from endogenousforces—such as banks appetite to enter new states when the incumbent banks are weak from integration stemming from policy changes. We also have accurate and consistent...

Tài liệu Central Bank Policy Rate Guidance and Financial Market Functioning∗ doc

... policy1While the central banks of New Zealand, Norway, and Sweden publish theexpected policy rate path of their monetary policy decision makers, the central banks of Iceland and the Czech Republic ... theeuro area, and New Zealand in light of the communication strate-gies of central banks. We found evidence for New Zealand that cen-tral bank forecasts of policy rates influence market prices, but ... light of the communication strategies ofcentral banks. While we find evidence that central bank policy rateforecasts influence market prices in New Zealand, we find no evi-dence that market participants...

Tài liệu Money Market Mutual Funds and Financial Stability doc

... and banks and corporations that have short-term borrowing needs. Money market funds are a key buyer of the short-term debt instruments issued by banks and corporations – commercial paper, bank ... were 19 percent. And finally, Treasury and Agency securities were 9 percent and 10 percent, respectively. 2 Sponsors are the asset management firms and their parents and affiliates. 3 ... Funds and Financial Stability Eric S. Rosengren President & Chief Executive Officer Federal Reserve Bank of Boston Remarks at the Federal Reserve Bank of Atlanta’s 2012 Financial...

Credit channel, trade credit channel, and inventory investment: evidence from a panel of UK firms pot

... ‘Trade credit and the bank lending channel.’ Journal of Money, Credit, and Banking, 34, pp. 226-253. Petersen, M. and R. Rajan (1997). ‘Trade credit: theories and evidence. ’ Review of Financial ... 8.19% for plant and machinery, and 2.5% for land and buildings. These are taken from King and Fullerton (1984). For each observation, we then calculate the proportion of land and building investment, ... ‘Funding growth in bank- based and market-based financial systems: evidence from firm-level data.’ Journal of Financial Economics, 65, pp. 337-63. Doornik, J., Arellano, M., and S. Bond (2002)....

WORKING PAPER NO 13 CREDIT RISK TRANSFER AND FINANCIAL SECTOR PERFORMANCE Wolf Wagner & Ian Marsh potx

... CREDIT RISK TRANSFER AND FINANCIAL SECTOR PERFORMANCE Wolf Wagner & Ian Marsh The Working Paper is intended as a means whereby researchers’ thoughts and findings may ... to interested readers for their comments. The paper should be considered preliminary in nature and may require substantial revision. Accordingly, a Working Paper should not be quoted nor the ... of the author. All rights reserved. © 2004 Wolf Wagner & Ian Marsh Comments and suggestions would be welcomed by the authors. e-mail: Wolf Wagner: w.wagner@cerf.cam.ac.uk...

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