... on bank NIM, we implement the natural log of
assets (SIZE) to detect the effect ofbank size on interestrate margins. The impact of growth of
deposits (DEP) will also be tested. To detect the ... the development ofinterest rates in Lebanon.
In section 3 we shed light on the literature regarding thedeterminantsofbank net interest margins. The
empirical methodology ofthe study is presented ... the main determinantsof
net interestmargins are bank- specific factors, whereas others claim that the industry-specific factors
are more important. On the other hand, others believe that the...
... Report ofthe Conbttion
J
of the
at the close of business on the
I day of. ^^ 192.9 as found upon exami-
nation made by the direction and authority ofthe Superintendent of Banks ofthe State of ... in
the interestrate table on page 4 ofthe report.
3
The passbook rate varies across the sample banks, so
there is something to explain. Among these banks, the
passbook rate ranges from ... Savings Banks
' Due New York State Savings and Loan Associations, Credit Unions and Land Bank
Deposits ofthe State of New York
Deposits ofthe Superintendent of Banks ofthe State of New...
... the high velocity of adjustment of
the interbank rate to the policy rate in the 1990s. However, a formal test of exclusion of this
variable from the model can be accepted only marginally (the ... to the characteristics ofthe monetary policy impulse. This means that in the
long run the pass-through from money market rates to bank rates has the same size
independent ofthe sign ofthe ... in the period 1985-2002. The main results ofthe paper are: 1) the speed of adjustment
of bankinterest rates to monetary policy changes increased significantly after the
introduction of the...
... capital structure
of banks back to differences in the quality of corporate governance in the banks. Frank and
29
There are other interesting differences in the governance of banks relative ...
tentative answers to both of these questions.
Within the standard corporate finance theories, the high leverage of banks suggests
either (i) that the tax benefits for banks are larger than for ... increase the fit ofthe leverage regressions. The sign, magnitude
and significance ofthe bank- level variables remain unchanged except for profits in the market
leverage regression. Some of the...
... Conceptually, the value ofthe shareholders’ interest can be thought of as a call option on the assets
of the firm, with the ability to put the assets to the debt holders if the value ofthe assets ... in the area ofbank interest- rate risk and the behavior of NIM has been largely
limited since the late 1980s, when the savings and loan crisis brought the issue of interest- rate
risk to the ... as hypothesized, that the interest- rate
sensitivity associated with a bank s funding has a significant, positive effect on thebank s net
interest margins, regardless ofthe interest- rate environment....
... behavior of
market participants in the various segments ofthe foreign exchange
market. In this paper, we have isolated the impact of knee-jerk
trading on the volatility of returns around the time of ... and Taylor (2004) in their high-frequency study of the
exchange rate effects of ECB interestrate announcements, suggest-
ing that they are robust.
18
An interesting extension of our results would ... Surprise Measures
The table contains interestrate decisions ofthe MPC for the period June 1997–October 2007. “Bloomberg Expectation” refers to
the interestrate change predicted by the median expectation...
... dis-
cussion oftheinterestrate projections ofthe RBNZ and Qvigstad (2006) for criteria for an appropriate
future policy rate path.
3
4 The impact ofinterestrate projections along the yield curve
The ... how the
unexpected part oftheinterestrate projections affects the market interest rates along
the yield curve.
4.1 Level and timing components of an unexpected change in the interest
rate ... volatil-
ity. Therefore, our empirical results suggest that the forward guidance ofthe central
bank might be improved by shortening the horizon oftheinterestrate projections.
We further explored how the...
... part ofthe overlapping geographical range ofthe two merging banks). In
contrast, from the point of view of a local market in which only one ofthe merging
banks has been operating, the merger ... estimate the impact ofthe merged banks’ size (target’s size),
we include the volume of total assets ofthe target bank
18
(normalized to the acquirer’s
total assets) in the regression. The cross-product ... change of market
share realized in the year ofthe merger. That is, we approximate the change of market
share caused by the merger as the difference between thebank s market share in the
years...
... Schumacher (2000) apply the model of Ho and Saunders(1981) to analyze the
determinants ofinterestmargins in six countries ofthe European Union and the US during
the period 1988–95. They find that ... work is a first attempt to study the profitability ofthe banking sectors in SSA countries.
Given the key role that the financial sector plays in the expansion ofthe private productive
sector, ... predetermined.
The magnitude and significance ofthe coefficient on the lagged ROA confirm the dynamic
nature ofthe model, and show a moderate persistence in return. The coefficient estimate of
0.21...
... money market rate, are changed. According to these studies the speed of adjustment of lending
rates to changes in policy interestrate may depend on the elasticity ofthe demand for bank loans ... in the
banking system of Turkey by empirically examining the pass-through that is defined as the degree and
the speed of adjustment ofinterest rates to money market rate. Most central banks ... that the degree of short term pass through is mainly related with the factors like
the level of concentration in the banking system, inflation, volatility of money market rate and bank
costs. The...
... due to
the fact that factors other than the market interestrate might play a role in the determination of retail bank
interest rates and because of measurement errors in theinterestrate series.
6
... market interest rates are not immediately reflected in retail bank
interest rates. In other words, bankinterest rates are sticky in the short term. The immediate response of
deposit rates to ... to the extent by which market interestrate shocks are immediately passed
through to retail bankinterest rates. The share ofthe immediate pass-through of a market interest shock to
the interest...