Distress In European Banks
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Distress In European Banks
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Author : Mr.Martin Cihak
language : en
Publisher: International Monetary Fund
Release Date : 2009-01-01
Distress In European Banks written by Mr.Martin Cihak and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
The global financial crisis has highlighted the importance of early identification of weak banks: when problems are identified late, solutions are much more costly. Until recently, Europe has seen only a small number of outright bank failures, which made the estimation of early warning models for bank supervision very difficult. This paper presents a unique database of individual bank distress across the European Union from mid-1990s to 2008. Using this data set, we analyze the causes of banking distress in Europe. We identify a set of indicators and thresholds that can help to distinguish sound banks from those vulnerable to financial distress.
The Systemic Risk Of European Banks During The Financial And Sovereign Debt Crises
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Author : Board of Board of Governors of the Federal Reserve System
language : en
Publisher: CreateSpace
Release Date : 2014-11-13
The Systemic Risk Of European Banks During The Financial And Sovereign Debt Crises written by Board of Board of Governors of the Federal Reserve System and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-13 with categories.
We propose a hypothetical distress insurance premium (DIP) as a measure of the European banking systemic risk, which integrates the characteristics of bank size, default probability, and interconnectedness. Based on this measure, the systemic risk of European banks reached its height in late 2011 around e 500 billion. We find that the sovereign default spread is the factor driving this heightened risk in the banking sector during the European debt crisis. The methodology can also be used to identify the individual contributions of over 50 major European banks to the systemic risk measure. This approach captures the large contribution of a number of systemically important European banks, but Italian and Spanish banks as a group have notably increased their systemic importance. We also find that bank-specific fundamentals predict the one-year-ahead systemic risk contribution of our sample of banks in an economically meaningful way
Banking Stability Measures
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Author : Miguel A. Segoviano
language : en
Publisher:
Release Date : 2009
Banking Stability Measures written by Miguel A. Segoviano and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Bank failures categories.
This paper defines a set of banking stability measures which take account of distress dependence among the banks in a system, thereby providing a set of tools to analyze stability from complementary perspectives by allowing the measurement of (i) common distress of the banks in a system, (ii) distress between specific banks, and (iii) distress in the system associated with a specific bank. Our approach defines the banking system as a portfolio of banks and infers the system's multivariate density (BSMD) from which the proposed measures are estimated. The BSMD embeds the banks' default inter-dependence structure that captures linear and non-linear distress dependencies among the banks in the system, and its changes at different times of the economic cycle. The BSMD is recovered using the CIMDO-approach, a new approach that in the presence of restricted data, improves density specification without explicitly imposing parametric forms that, under restricted data sets, are difficult to model. Thus, the proposed measures can be constructed from a very limited set of publicly available data and can be provided for a wide range of both developing and developed countries.
Bank Debt In Europe
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Author : Mrs.Vanessa Le Lesle
language : en
Publisher: International Monetary Fund
Release Date : 2012-12-20
Bank Debt In Europe written by Mrs.Vanessa Le Lesle and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-20 with Business & Economics categories.
The crisis in Europe has underscored the vulnerability of European bank funding models compared to international peers. This paper studies the drivers behind this fragility and examines the future of bank funding, primarily wholesale, in Europe. We argue that cyclical and structural factors have altered the structure, cost, and composition of funding for European banks. The paper discusses the consequences of shifting funding patterns and investor preferences and presents possible policy options and bank actions to enhance European bank funding models’ robustness.
The Palgrave Handbook Of European Banking
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Author : Thorsten Beck
language : en
Publisher: Springer
Release Date : 2017-01-12
The Palgrave Handbook Of European Banking written by Thorsten Beck and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-12 with Business & Economics categories.
This handbook presents a timely collection of original studies on relevant themes, policies and developments in European banking. The contributors analyse how the crisis years have had a long lasting impact on the structure of European banking and explore the regulatory architecture that has started to take form in their wake. Academic experts and senior policy makers have contributed to this volume, which is organized in five main parts. The first part presents an overview of European banking through the crisis and beyond. The second part analyses performance and innovation in EU banking markets. The third part discusses the key regulatory changes aimed at fostering financial stability. Part four looks at the relevance of cross-border banking and part five presents a detailed analysis of the main EU banking markets. This is a highly informative and carefully presented handbook, which provides thought-provoking insights into the past, present and future landscapes of European banking. It will appeal to a wide readership, from scholars and students, through to researchers, practitioners and policy-makers.
Risk And Regulation In Euro Area Banks
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Author : Francesca Arnaboldi
language : en
Publisher: Springer Nature
Release Date : 2019-10-31
Risk And Regulation In Euro Area Banks written by Francesca Arnaboldi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-31 with Business & Economics categories.
Since the last financial crisis, much work has been undertaken to strengthen the ability to respond to distress in the EU financial system. However, reforms enacted since the Single Resolution Mechanism was created in July 2014 as part of the Banking Union initiated in 2012 mainly focused on non-performing loans, and the third pillar of the Banking Union, namely a European Deposit Insurance Scheme, has not been completed. Against this backdrop, this book focuses on the reasons why the EU banking system continues to remain fragile. In particular, high stocks of non-performing loans in some countries, the Level 3 assets evaluation and high exposure of many banks to the debts of their own governments are among the major concerns. Secondly, the book discusses the completion of the public safety net for banks, including deposit insurance, which remains primarily at the national level. This creates scope for contagion from banking sector fragility to national sovereign debt distress. Of interest to banking researchers, academics and students, this book combines rigorous analysis of the regulatory framework and empirical investigation on EU banking system data to prove that market discipline and risk sharing should be viewed as complementary pillars of the Euro-area financial architecture rather than as substitutes, requiring a reformed institutional framework.
Size Risk And Governance In European Banking
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Author : Jens Hagendorff
language : en
Publisher: OUP Oxford
Release Date : 2013-10-03
Size Risk And Governance In European Banking written by Jens Hagendorff and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-03 with Business & Economics categories.
The financial crisis that erupted in 2007 has brought the issues of the size, risk, and regulation of banks to the attention of a wide audience. It is difficult to open a broadsheet newspaper or a business magazine without being confronted with some aspect of bank behaviour, be it their risk levels, bankers' excessive rewards, the intertwining of bank and sovereign risk, or how they should be regulated to avoid problems in the future. In Europe, the recent and on-going crisis has demonstrated that the European Union (EU) was institutionally ill-prepared to manage a financial crisis, especially one involving large cross-border institutions which are systemically important to a number of countries. This book aims at integrating and synthesizing the various perspectives on the size, risk, and governance of banking as applied to the European markets, providing fresh insights and new analysis of the empirical data. The book is divided into three main sections. The first provides an overview of how the size of banking firms affects stability in the European banking sector, reviewing the quantitative empirical literature and offering new insights as to whether bank size motivates risk-taking where explicit or implicit 'too-big-to fail' policies shield bank creditors from market discipline. The next section discusses the debates relating to each of the different elements of risk in European banking, including new insights from a large dataset of European bank risk in different institutional contexts. The third section focuses on regulation, board monitoring, and opacity in European banking, employing a unique and hand collected dataset on the governance of European banks, as well as data on U.S. banks as a benchmark. The final chapter critically reviews the new insights gained from the chapters above, while offering policy implications as regards the role of size, risk and governance in European banking.
The New Bail In Legislation
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Author : Angela Maria Maddaloni
language : en
Publisher: Springer Nature
Release Date : 2021-12-07
The New Bail In Legislation written by Angela Maria Maddaloni and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-07 with Business & Economics categories.
Financial stability is a pillar of well-functioning financial markets. After the last financial crisis, European policymakers harmonised banking regulation and revised the framework of banking resolution. The introduction of the bail-in legislation is a natural experiment to improve the understanding of banking resolution and how it affected the funding strategies of banks. This book assesses whether financial stability has been strengthened by the change in banks’ resolution policy with a focus on the bail-in. The book shows how banks changed their funding strategies, shrank their balance-sheets and relied more on deposits. The book will discuss inter-alia the mis-selling of bonds, which happened during 2012-2013, analysing whether the bond allocation changed after the bail-in launch. It discusses how the bail-in mechanism was deemed credible by equity holders and argues that the European case would have useful implications for third countries. Finally, the book relates this discussion to the possible collateral effects generated by the new resolution policy during and after the COVID-19 crisis, which will be of particular interest to researchers and policymakers in banking and financial institutions.
European Banking Union
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Author : Juan E. Castañeda
language : en
Publisher: Routledge
Release Date : 2015-11-19
European Banking Union written by Juan E. Castañeda and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-19 with Business & Economics categories.
Recent failures and rescues of large banks have resulted in colossal costs to society. In wake of such turmoil a new banking union must enable better supervision, pre-emptive coordinated action and taxpayer protection. While these aims are meritorious they will be difficult to achieve. This book explores the potential of a new banking union in Europe. This book brings together leading experts to analyse the challenges of banking in the European Union. While not all contributors agree, the constructive criticism provided in this book will help ensure that a new banking union will mature into a stable yet vibrant financial system that encourages the growth of economic activity and the efficient allocation of resources. This book will be of use to researchers interested in Banking, Monetary Economics and the European Union.
Bank Resolution
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Author : Jens-Hinrich Binder
language : en
Publisher:
Release Date : 2016
Bank Resolution written by Jens-Hinrich Binder and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Bank failures categories.
Responding to lessons learned during the global financial crisis, the EU Directive on the Recovery and Resolution of Banks and Securities Firms (Directive 2014/59/EU, the BRRD) has substantially changed the legal framework for insolvency management of financial services institutions across Europe. As the legislative process has been completed with the adoption of the BRRD, and of Regulation No. 806/2014 establishing the Single Resolution Mechanism, this work offers an insight into the new European framework for the resolution of banks in distress.