Bank for International Settlements – Monetary and Economic Department The BIS Quarterly Review includes analysis on recent developments in financial markets, inflation targeting, monetary policy transmission to housing markets, large language models and the architecture of international banking. Link: BIS Quarterly Review (December 2024)
VoxEU Columnby Jin Cao, Emilia Garcia-Appendini, Cédric Huylebroek Incumbent banks often maintain an informational monopoly over their borrowers, making it difficult to switch to competing lenders or negotiate better terms. This column argues that deposit relationships could be a solution, thereby contributing to more competitive lending markets. It shows that firms with deposit relationships at[…]
New York FED Liberty Street Economics – Blog Entryby Sergio Correia, Stephan Luck, and Emil Verner Why do banks fail? In a new working paper, the authors study more than 5,000 bank failures in the U.S. from 1865 to the present to understand whether failures are primarily caused by bank runs or by deteriorating solvency.[…]
Part of the ECB’s Macroprudential Bulletin 25by Marcus Bierich, Pierce Daly, Aoife Horan, Ellen Ryan and Manuela Storz This special focus provides an initial granular analysis of bank lending to real estate investment funds (REIFs) in the euro area, while also considering the resulting potential financial stability implications. Link: A first look at banks loans[…]
VoxEU Column by Galina Hale and Bhavyaa Sharma Climate-related risks, both those related to the warming of the planet and those related to our actions to mitigate it, are a factor in asset pricing. This column argues that the nature of these risks is quite different from that of other shocks commonly considered in asset pricing[…]
VoxEU Column by Xiang Fang, Bryan Hardy & Karen K. Lewis Globally, government debt has increased substantially since the onset of the Covid-19 pandemic and geopolitical tensions. This columns asks who the investors that hold government debt are, and whether the ownership composition matters. Overall, as debt increases, non-bank investors, in particular investment funds, take[…]
Speech at the annual SCION Day 2024by Elizabeth McCaul, Member of the Supervisory Board of the ECB In a world of accelerating digitalisation and increasing geopolitical uncertainty, cyberattacks pose a significant risk to banks’ stability. This topic was addressed by Elizabeth McCaul, Member of the Supervisory Board of the ECB, at the annual SCION Day[…]
The FRED Blog Entryby Ana Maria Santacreu and Ashley Stewart. Net international investment position (NIIP) captures the difference between two large numbers: the value of US-owned assets abroad (foreign assets) and the value of foreign-owned assets in the US (foreign liabilities). The NIPP determines whether a country is a net creditor (positive position) or a[…]
Deutsche Bundesbank Research Brief | 69th edition – September 2024by Kamil Pliszka, Carina Schlam Global systemically important banks (G-SIBs) have to comply with additional buffer requirements owing to their size and interconnectedness within the banking sector. The buffer level banks are expected to meet depends on their exposures at a certain point in time. A new[…]
FEDS Noteby Lia Chabot, Paul Cochran, Sebastian Infante and Benjamin Iorio In this note, the authors present a novel measure based on individual dealer-level data that isolates the compensation dealers receive for intermediating overnight Treasury repurchase agreements across repo market segments. Link: FEDS Notes: Dealer Balance Sheet Constraints Evidence from Dealer-Level Data across Repo Market[…]