The Credit Quality Channel
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The Credit Quality Channel
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Author : Kilian Fink
language : de
Publisher:
Release Date : 2015
The Credit Quality Channel written by Kilian Fink and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Uncertainty Non Linear Contagion And The Credit Quality Channel An Application To The Spanish Interbank Market
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Author : Adrián Carro
language : en
Publisher:
Release Date : 2022
Uncertainty Non Linear Contagion And The Credit Quality Channel An Application To The Spanish Interbank Market written by Adrián Carro and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
Fiscal Transparency Fiscal Performance And Credit Ratings
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Author : Ms.Elif Arbatli
language : en
Publisher: International Monetary Fund
Release Date : 2012-06-01
Fiscal Transparency Fiscal Performance And Credit Ratings written by Ms.Elif Arbatli 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 2012-06-01 with Business & Economics categories.
This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by credit ratings. It measures this effect through a direct channel (uncertainty reduction) and an indirect channel (better fiscal policies and outcomes), and it differentiates between advanced and developing economies. Fiscal transparency is measured by an index based on the IMF’s Reports on the Observance of Standards and Codes (ROSCs). We find that fiscal transparency has a positive and significant effect on ratings, but it works through different channels in advanced and developing economies. In advanced economies the indirect effect of transparency through better fiscal outcomes is more significant whereas for developing economies the direct uncertainty-reducing effect is more relevant. Our results suggest that a one standard deviation improvement in fiscal transparency index is associated with a significant increase in credit ratings: by 0.7 and 1 notches in advanced and developing economies respectively.
The Credit Channel At Work
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Author : Giovanni Ferri
language : en
Publisher:
Release Date : 1999
The Credit Channel At Work written by Giovanni Ferri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Bank loans categories.
When negative monetary and financial shocks hit the Korean economy, reactions in the financial system amplified the impact of the shocks by reducing the credit available and increasing its cost. This particularly hurt segments of the economy that rely heavily on bank credit for external financing, such as small and medium-sized enterprises.
Quantitative Easing And Credit Rating Agencies
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Author : Nordine Abidi
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-03
Quantitative Easing And Credit Rating Agencies written by Nordine Abidi 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 2022-06-03 with Business & Economics categories.
This paper investigates the behaviour of credit rating agencies using a natural experiment in monetary policy. We exploit the corporate QE of the Eurosystem and its rating-based specific design which generates exogenous variation in the probability for a bond of becoming eligible for outright purchases. We show that after the launch of the policy, rating activity was concentrated precisely on the territory where the incentives of market participants are expected to be more sensitive to the policy design. Our findings contribute to better assessing the consequences of the explicit reliance on CRAs ratings by central banks when designing monetary policy. They also support the Covid-19 monetary stimulus, and in particular the waiver of private credit rating eligibility requirements applied to recently downgraded issuers.
Bank Leverage And Monetary Policy S Risk Taking Channel
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Author : Mr.Giovanni Dell'Ariccia
language : en
Publisher: International Monetary Fund
Release Date : 2013-06-06
Bank Leverage And Monetary Policy S Risk Taking Channel written by Mr.Giovanni Dell'Ariccia 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 2013-06-06 with Business & Economics categories.
We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally.
The Riskiness Of Credit Origins And Downside Risks To Economic Activity
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Author : Claudio Raddatz
language : en
Publisher: International Monetary Fund
Release Date : 2024-03-29
The Riskiness Of Credit Origins And Downside Risks To Economic Activity written by Claudio Raddatz 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 2024-03-29 with Business & Economics categories.
We construct a country-level indicator capturing the extent to which aggregate bank credit growth originates from banks with a relatively riskier profile, which we label the Riskiness of Credit Origins (RCO). Using bank-level data from 42 countries over more than two decades, we document that RCO variations over time are a feature of the credit cycle. RCO also robustly predicts downside risks to GDP growth even after controlling for aggregate bank credit growth and financial conditions, among other determinants. RCO’s explanatory power comes from its relationship with asset quality, investor and banking sector sentiment, as well as future banking sector resilience. Our findings underscore the importance of bank heterogeneity for theories of the credit cycle and financial stability policy.
The Effects Of Bank Capital On Lending
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Author : Jose M. Berrospide
language : en
Publisher:
Release Date : 2016
The Effects Of Bank Capital On Lending written by Jose M. Berrospide and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The effect of bank capital on lending is a critical determinant of the linkage between financial conditions and real activity, and has received especial attention in the recent financial crisis. We use panel-regression techniques - following Bernanke and Lown (1991) and Hancock and Wilcox (1993, 1994) - to study the lending of large bank holding companies (BHCs) and find small effects of capital on lending. We then consider the effect of capital ratios on lending using a variant of Lown and Morgan's (2006) VAR model, and again find modest effects of bank capital ratio changes on lending. These results are in marked contrast to estimates obtained using simple empirical relations between aggregate commercial-bank assets and leverage growth, which have recently been very influential in shaping forecasters' and policymakers' views regarding the effects of bank capital on loan growth. Our estimated models are then used to understand recent developments in bank lending and, in particular, to consider the role of TARP-related capital injections in affecting these developments.
Managing Portfolio Credit Risk In Banks An Indian Perspective
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Author : Arindam Bandyopadhyay
language : en
Publisher: Cambridge University Press
Release Date : 2016-05-09
Managing Portfolio Credit Risk In Banks An Indian Perspective written by Arindam Bandyopadhyay and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-09 with Business & Economics categories.
This book explains how a proper credit risk management framework enables banks to identify, assess and manage the risk proactively.
Handbook Of Asset And Liability Management
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Author : Stavros A. Zenios
language : en
Publisher: Elsevier
Release Date : 2007-08-08
Handbook Of Asset And Liability Management written by Stavros A. Zenios and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-08-08 with Business & Economics categories.
The Handbooks in Finance are intended to be a definitive source for comprehensive and accessible information in the field of finance. Each individual volume in the series presents an accurate self-contained survey of a sub-field of finance, suitable for use by finance and economics professors and lecturers, professional researchers, graduate students and as a teaching supplement. It is fitting that the series Handbooks in Finance devotes a handbook to Asset and Liability Management. Volume 2 focuses on applications and case studies in asset and liability management.The growth in knowledge about practical asset and liability modeling has followed the popularity of these models in diverse business settings. This volume portrays ALM in practice, in contrast to Volume 1, which addresses the theories and methodologies behind these models. In original articles practitioners and scholars describe and analyze models used in banking, insurance, money management, individual investor financial planning, pension funds, and social security. They put the traditional purpose of ALM, to control interest rate and liquidity risks, into rich and broad-minded frameworks. Readers interested in other business settings will find their discussions of financial institutions both instructive and revealing. * Focuses on pragmatic applications * Relevant to a variety of risk-management industries* Analyzes models used in most financial sectors