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Bank liquidity and ...
Bank liquidity and capital shocks in unconventional times
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- Baros, Aleksandra (författare)
- University of Bologna, Italy
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- Croci, Ettore (författare)
- Catholic University, Italy
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- Elliot, Viktor (författare)
- Gothenburg University,Göteborgs universitet,Företagsekonomiska institutionen,Department of Business Administration
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- Willesson, Magnus (författare)
- Linnéuniversitetet,Institutionen för nationalekonomi och statistik (NS),Sustainable Co-creation - through interdisciplinary solutions
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(creator_code:org_t)
- Taylor & Francis Group, 2023
- 2023
- Engelska.
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Ingår i: European Journal of Finance. - : Taylor & Francis Group. - 1351-847X .- 1466-4364. ; 29:14, s. 1678-1703
- Relaterad länk:
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https://doi.org/10.1...
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https://lnu.diva-por... (primary) (Raw object)
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https://urn.kb.se/re...
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Abstract
Ämnesord
Stäng
- This paper examines bank liquidity management following capital shocks under capital and liquidity regulation in a period of unconventional monetary policies. Studying European banks between 2010 and 2018, we find that bank liquidity is generally not affected by a negative capital shock. Capital shocks are nevertheless transmitted into liquidity positions through balance sheet adjustments. Addressing bank-level balance sheet policies, we find that the banks de-risk assets by replacing corporate loans with financial securities, especially if the shock takes place during periods of heightened central bank interventions. Moreover, asset-side-dominant risk-reducing behavior goes against regulatory intent and indicates that regulatory arbitrage considerations affect banks’ responses to shocks. Finally, we document heterogeneous responses by banks depending on their size, type, and country. These findings imply that compliance with regulation may lead to partial shortages in corporate lending, with banks prioritizing investment in government securities in event of a capital shock.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- Bank liquidity
- capital shock
- regulation
- regulatory arbitrage
- unconventional monetary policy.
- Economics
- Nationalekonomi
- Business administration
- Företagsekonomi
- Ekonomistyrning
- Ekonomistyrning
- Bank liquidity
- capital shock
- regulation
- regulatory arbitrage
- unconventional monetary policy
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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