Passive investing before and after the crisis: investors' views on exchange-traded funds and competing index products [PDF]
, 2011 Investment in exchange-traded funds (ETFs) has been remarkably robust in the course of the recent financial crisis. This paper analyzes investors' perceptions of ETFs and other indexing products by comparing the answers to two surveys of ETF users ...
Goltz, F., Schröder, David
core
Banks of a Feather: The Informational Advantage of Being Alike
Journal of Money, Credit and Banking, EarlyView.Abstract Banks lend more to banks that are similar to them. Using data from the German credit register and proprietary supervisory data on the quality of banks' loan portfolio, we show that a similar portfolio of the lending and borrowing bank helps to overcome information asymmetries in interbank markets.
PETER BEDNAREK +3 more
wiley +1 more source
Repo markets, counterparty risk and the 2007/2008 liquidity crisis [PDF]
A standard repurchase agreement between two counterparties is considered to examine the endogenous choice of collateral assets, the feasibility of secured lending, and welfare implications of the central bank’s collateral framework.
Ewerhart, Christian, Tapking, Jens
core
A Literature Review of Securities Holdings Statistics Research and A Practitioner's Guide
Journal of Economic Surveys, EarlyView.ABSTRACT Granular holdings data containing security‐by‐security portfolio investments features prominently in economics and finance research. One novel source is the granular Securities Holdings Statistics (SHS), managed by the European Central Bank. SHS covers different euro area investors with over 2 billion observations, representing +50 trillion ...
Martijn Boermans
wiley +1 more source
Utilization Schemes of the Pre-Settlement Risk Limits
Finanse i Prawo FinansoweThe purpose of the article is to investigate the selected method employed to manage the counterparty credit risk, namely the application of various risk limits.
Piotr Wybieralski
doaj +1 more source
A corporate client of the Bank: to take or not to take
Ученые записки Российской академии предпринимательства, 2021 Banks need clients as well as clients need banks. They complement one another. This is the clearest demonstration of the very essence of the economy - activity of society, as well as aggregate relations in the system of production, distribution, exchange
A. V. Dormidontov
doaj
Going for Broke: Bank Reputation and the Performance of Opaque Securities
The Journal of Finance, EarlyView.ABSTRACT Can banks’ reputational concerns improve the quality of opaque, off‐balance sheet securities, such as mortgage‐backed securities? We study this question in a uniquely parsimonious setting. In the 1760s, Dutch banking partnerships securitized West‐Indian plantation mortgages that were risky and opaque.
ABE DE JONG +2 more
wiley +1 more source
Uncovering the network structure of non-centrally cleared derivative markets: evidence from large regulatory data. [PDF]
Empir Econ, 2023 Zema SM.
europepmc +1 more source
Contracting innovations and the evolution of clearing and settlement methods at futures exchanges [PDF]
Defining futures contracts as substitutes for associated cash transactions enables a discussion of the evolution of controls over contract nonperformance risk. These controls are incorporated into exchange methods for clearing contracts.
James T. Moser
core
Gambling for market recovery? European insurers' corporate bond investments during market stress
Journal of Risk and Insurance, EarlyView.Abstract Using daily stock market data for European insurers, I investigate how a stock market contraction, as experienced during the COVID‐19 pandemic, affects insurers' credit risk allocation of their corporate bond portfolio. I find that insurers shift their portfolio holdings pro‐cyclically towards lower credit risk assets in the first month of the
Marcel Beyer
wiley +1 more source