Working Paper No 446 The business cycle implications of banks’ maturity transformation potx
WORKING PAPER NO. 40 FINANCIAL STRUCTURE AND THE INTEREST RATE CHANNEL OF ECB MONETARY POLICY pptx
... firstapproximation, the variation in the value of a bonds portfolio can be taken as the response of the value of a bond with the average maturity of the portfolio. For instance, if the average maturity of the ... available.ECB Working Paper No 40 l November 200015Finally, the indicators of the rigidity of bank funding costs are all significant. As expected, the higher the staff costs, the smaller the impact of ... increase in the federal funds rate. In such circumstances, the drop in the value of the bond portfolio will reflect the overshoot of the long-term rate over the MMR.ECB Working Paper No 40 l November...
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WORKING PAPER NO. 136 RETAIL BANK INTEREST RATE PASS-THROUGH: NEW EVIDENCE AT THE EURO AREA LEVEL docx
... the maturity of the instruments also plays prima facie a role in determining the level of bank lending rates: the lower the maturity the higher the level of the bank lending rate. This is noteworthy ... April 2002known as the flight to quality phenomenon. However, until this happens, the interest rate should not be sticky on the risky loans. In fact, the reverse is true; the rate on these loans ... in the euro area on the deposits and loans considered, respectively.4 Chart 1a illustrates that the level of bank deposit rates depends on maturity: typically the lower the maturity of the...
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WORKING PAPER NO. 192 IS THE EUROPEAN CENTRAL BANK (AND THE UNITED STATES FEDERAL RESERVE) PREDICTABLE? pptx
... effect, the impact of a change in the key ECB interest rates would be smaller the longer the maturity horizon of the bond. ECB • Working Paper No 192 • November 200221 The expectation hypothesis ... predictability to the Fed. In Section 5 we analyse the reaction of the term structure of the euro area to the daily shocks and to the unexpectedcomponent of the monetary policy decisions of the ECB (the shocks ... rate of the current month. ECB • Working Paper No 192 • November 200218EUROPEAN CENTRAL BANK WORKING PAPER SERIESECB EZB EKT BCE EKP WORKING PAPER NO. 192IS THE EUROPEAN CENTRALBANK (AND THE...
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WORKING PAPER NO 13 CREDIT RISK TRANSFER AND FINANCIAL SECTOR PERFORMANCE Wolf Wagner & Ian Marsh potx
... interested readers for their comments. The paper should be considered preliminary in nature and may require substantial revision. Accordingly, a Working Paper should not be quoted nor the data referred ... 34 WORKING PAPER NO 13 CREDIT RISK TRANSFER AND FINANCIAL SECTOR PERFORMANCE Wolf Wagner & Ian Marsh The Working Paper is intended as a ... referred to without the written consent of the author. All rights reserved. © 2004 Wolf Wagner & Ian Marsh Comments and suggestions would be welcomed by the authors. e-mail:...
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BIS Working Papers No 297 The bank lending channel revisited doc
... depositoffered by banks must be high enough to ensure that households keep all of their wages in the form of bank deposits. Since the focus of the paper is on the process of credit extension, it9will ... Banksenter the game with p redetermined assets and liabilities — possibly the outcome of a previousiteration of the game. The level of the risk free i nterest rate is then set by the central bankin the ... by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the views of the BIS. ...
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Beyond the Business Cycle: The Need for a Technology-Based Growth Strategy potx
... penetration in the early phase of the technology’s life cycle and almost guarantee low market share in the middle portion of that cycle. Historically, the policy response to the loss of global ... investment underscores the point that innovation is only the initial commercial application of a new technology. Over time, the majority of the economic benefits from investment in technologies are realized ... the R&D and hence the technology life cycles. The lengthy indirect process of realizing economies of scope from new technologies is no longer competitive in a world economy that conducts over...
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Banks’ regulatory capital buffer and the business cycle: evidence for German savings and cooperative banks pot
... over the business cycle than lending by cooperative banks. The effect of the business cycle on capital and risk-weighted assets taken together explains why the effect of the business cycle on banks’ ... first differences of the variables before running the Blundell-Bond procedure, the estimated coefficient of the lagged capital buffer gives the speed of adjustment of the change in the capital buffer, ... Hence, the idea behind this specification is that the effect of business cycle fluctuations superimposes on the build-up of capital buffers. Beyond analyzing the effect of business cycle fluctuations...
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BIS Working Papers No 345 The bank lending channel: Lessons from the crisis doc
... incentives along the securitisation chain, a lack of transparency with regard to the underlying risks of the securitisation business, and the poor management of those risks. The implications of securitisation ... total assets at the end of the previous year. We then attached a value of one if a bank fell into the last quartile of the distribution of this ratio. The monetary policy rate is the overnight ... innovation. However, the inclusion of these variables in the regression has a cost in terms of the representativeness of the sample because Tier 1 and EDF data are not available for all the...
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Working Paper No. 400 Liquidity-saving mechanisms and bank behaviour pot
... in the long run. Finally, in reality, banks do not know the choices of their counterparties. What they typically do know is some average indicator of the whole system, and this is what they ... The efficiency of each stream (RTGS or LSM) depends on the share of payments routed to it by the ‘others’ (ie by their threshold). In addition, the RTGS stream also depends on the amount of ... how the equilibrium varies when the price of liquidity α changes. Because an accurate calibration of the model is beyond the scope of this paper, we let the parameter α vary in a range wide enough...
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WORKING PAPER NO. 72 BANK CONCENTRATION AND RETAIL INTEREST RATES pptx
... concurrently to the increase in concentration, as the cause for this result. The results in the paper have some implications for tests of the effect of the financial structure in general and of competition ... convergence of rates to the lower German level in the wake of the introduction of the common currency. 22 This argument, of course, ignores the fact that our data set encompasses not only time ... B0, the elasticity of aggregate loan demand B, the probability of default of borrowers µ, and the operating costs of the bank α.9 3. EMPIRICAL MODEL The empirical model used in the...
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Từ khóa: the business cycle in investinginvesting in the business cyclethe impact of unemployment and inflation on the business cycleinvesting over the business cycleharnessing the power of the business cycle in investingadditional considerations on the theory of the business cyclecommodities and the business cycleforests in the global carbon cycle implications of climate changeiossifov martin čihỏk and amar shanghavi 2008 quot interest rate elasticity of residential housing prices quot imf working paper no wp 08 247the facts about the business cycle2endogenous growth and the business cyclebritain s housing and the business cyclethe yield curve as a forecasting tool for inflation and the business cycleinvestment and the business cyclecycling through the business cycleBáo cáo thực tập tại nhà thuốc tại Thành phố Hồ Chí Minh năm 2018Báo cáo quy trình mua hàng CT CP Công Nghệ NPVNghiên cứu tổ chức pha chế, đánh giá chất lượng thuốc tiêm truyền trong điều kiện dã ngoạiNghiên cứu tổ hợp chất chỉ điểm sinh học vWF, VCAM 1, MCP 1, d dimer trong chẩn đoán và tiên lượng nhồi máu não cấpđề thi thử THPTQG 2019 toán THPT chuyên thái bình lần 2 có lời giảiGiáo án Sinh học 11 bài 13: Thực hành phát hiện diệp lục và carôtenôitĐỒ ÁN NGHIÊN CỨU CÔNG NGHỆ KẾT NỐI VÔ TUYẾN CỰ LY XA, CÔNG SUẤT THẤP LPWANNGHIÊN CỨU CÔNG NGHỆ KẾT NỐI VÔ TUYẾN CỰ LY XA, CÔNG SUẤT THẤP LPWAN SLIDENghiên cứu về mô hình thống kê học sâu và ứng dụng trong nhận dạng chữ viết tay hạn chếNghiên cứu tổng hợp các oxit hỗn hợp kích thƣớc nanomet ce 0 75 zr0 25o2 , ce 0 5 zr0 5o2 và khảo sát hoạt tính quang xúc tác của chúngĐịnh tội danh từ thực tiễn huyện Cần Giuộc, tỉnh Long An (Luận văn thạc sĩ)Thơ nôm tứ tuyệt trào phúng hồ xuân hươngThiết kế và chế tạo mô hình biến tần (inverter) cho máy điều hòa không khíGiáo án Sinh học 11 bài 15: Tiêu hóa ở động vậtGiáo án Sinh học 11 bài 14: Thực hành phát hiện hô hấp ở thực vậtGiáo án Sinh học 11 bài 14: Thực hành phát hiện hô hấp ở thực vậtChiến lược marketing tại ngân hàng Agribank chi nhánh Sài Gòn từ 2013-2015Đổi mới quản lý tài chính trong hoạt động khoa học xã hội trường hợp viện hàn lâm khoa học xã hội việt namHIỆU QUẢ CỦA MÔ HÌNH XỬ LÝ BÙN HOẠT TÍNH BẰNG KIỀMQUẢN LÝ VÀ TÁI CHẾ NHỰA Ở HOA KỲ