By: Carol Bertaut, Bastian von Beschwitz, and Stephanie Curcuru For most of the last century, the preeminent role of the U.S. dollar in the global economy has been supported by the size and strength of the U.S. economy, its stability and openness to trade and capital flows, and strong property rights and the rule of[…]
Aggregate Common Equity Tier 1 ratio stood at 15.60% in second quarter of 2021, up from 15.49% in previous quarter Aggregate non-performing loans ratio fell further to 2.32% (down from 2.54% in previous quarter), with stock of non-performing loans declining to €422 billion (down from €455 billion in previous quarter) Aggregated annualised return on equity[…]
CfP Deadline Date: October 30, 2021 Conference Event: March 27-29, 2022 Event Location: Ischgl, Tyrol, Austria Organizer(s): Patrick Augustin (McGill University) Jan Ericsson (McGill University) Mathieu Fournier (HEC Montréal) Alexandre Jeanneret (University of New South Wales) Tobias Tröger (Goethe University, LawFin) Michael Weber (University of Chicago) The Finance departments of HEC Montréal, the Desmarais Global[…]
CfP Deadline Date: October 30, 2021 Conference Event: March 27-29, 2022 Event Location: Ischgl, Tyrol, Austria Organizer(s): Patrick Augustin (McGill University) Jan Ericsson (McGill University) Mathieu Fournier (HEC Montréal) Alexandre Jeanneret (University of New South Wales) Tobias Tröger (Goethe University, LawFin) Michael Weber (University of Chicago) The Finance departments of HEC Montréal, the Desmarais Global[…]
Author(s): Ambrogio Cesa-Bianchi and Fernando Eguren-Martin Date: July 2021 Abstract: Within-firm variation of corporate bond spreads around the Covid-19 outbreak shows that US dollar‑denominated bonds experienced larger increases in spreads relative to non-dollar bonds, especially at short maturities. Differently, in the non-dollar sample it was the spreads of longer maturity bonds that widened more markedly.[…]
CfP Deadline Date: November 1, 2021 Conference Event: February 11, 2022 Event Location: New York, NY, USA Organizer(s): Columbia University and Bank Policy Institute The Bank Policy Institute and Columbia University’s School of International and Public Affairs invite the submission of papers for our annual conference on Bank Regulation and Supervision. At this stage, we[…]
CfP Deadline Date: November 1, 2021 Conference Event: February 11, 2022 Event Location: New York, NY, USA Organizer(s): Columbia University and Bank Policy Institute The Bank Policy Institute and Columbia University’s School of International and Public Affairs invite the submission of papers for our annual conference on Bank Regulation and Supervision. At this stage, we[…]
By Patrick McGuire and Philip Wooldridge International banking grew rapidly from the 1950s to the 2000s, propelled by banks avoiding regulations that burdened their domestic funding, by financial liberalisation that expanded investment opportunities, and by financial innovation that offered new tools to manage risks. The core of the market is offshore, where lenders and borrowers[…]
By Giulio Cornelli, Sebastian Doerr, Lavinia Franco and Jon Frost This special feature examines trends in equity funding for financial technology firms (fintechs) and the underlying country-specific drivers. Fintechs have raised over $1 trillion in equity globally since 2010. While the investment landscape was initially quite concentrated, it has become more diverse, both geographically and[…]
Author(s): Silvia Miranda-Agrippino, Hélène Rey Date: September 2021 Abstract: We review the literature on the empirical characteristics of the global financial cycle and associated stylized facts on international capital flows, asset prices, risk aversion and liquidity in the financial system. We analyse the co-movements of global factors in asset prices and capital flows with commodity[…]