Author(s):Ricardo Correa and Linda S. Goldberg Date:July 2020 Abstract: Bank holding companies (BHCs) can be complex organizations, conducting multiple lines of business through many distinct legal entities and across a range of geographies. While such complexity raises the costs of bank resolution when organizations fail, the effect of complexity on BHCs’ broader risk profile is[…]
By Henk Jan Reinders, Dirk Schoenmaker, and Mathijs van Dijk The severe economic impact of the COVID-19 pandemic could threaten financial stability. Since accounting-based methods report loan losses with a delay, this column adopts a real-time, market-based assessment of the impact on corporate loan portfolios. Using European stock market data, it estimates that the market-implied[…]
The European Banking Authority (EBA) published today a discussion paper exploring ways on how to enhance the Bank Recovery and Resolution Directive (BRRD) framework on early intervention measures. The objective is to further enhance crisis management tools available for competent authorities in addition to well-established and widely used supervisory powers laid down in the Capital[…]
CfP Deadline Date: November 1, 2020 Conference Event: June 4-6, 2021 Event Location: Vancouver, Canada Organizer(s): The Financial Intermediation Research Society (FIRS) The Financial Intermediation Research Society (FIRS) is pleased to announce that its next conference will be held in Vancouver, on June 4-6, 2021. You are invited to submit papers to be considered for[…]
Author(s): Ricardo Correa, Wenxin Du and Gordon Liao Date: July 2020 Abstract: We characterize how U.S. global systemically important banks (GSIBs) supply short-term dollar liquidity in repo and foreign exchange swap markets in the post-Global Financial Crisis regulatory environment and serve as the “lenders-of-second-to-last-resort”. Using daily supervisory bank balance sheet information, we find that U.S.[…]
This year’s BIS Annual Economic Report is (naturally) centered around the topic of Covid-19 and its impact on the economy, including the chapters “A global sudden stop”, “A monetary lifeline: central banks” crisis response, and “Central Banks and Payments in the Digital Era”. Link: BIS 2020 Annual Economic Report
CfP Deadline Date: September 15, 2020 Conference Event: October 19, 21, & 23, 2020 Event Location: Online Organizer(s): The Center for Financial Innovation and Stability (Federal Reserve Bank of Atlanta) and the Center for the Economic Analysis of Risk (Georgia State University) The workshop’s goal is to bring together economists, finance and risk management professionals,[…]