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French Banks Amid the Global Financial Crisis

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  • Yingbin Xiao
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    Abstract

    This paper runs the gamut of qualitative and quantitative analyses to examine the performance of French banks during 2006-2008 and the financial support measures taken by the French government. French banks were not immune but proved relatively resilient to the global financial crisis reflecting their business and supervision features. An event study of the impact of government measures on CDS, debt, and equity markets points to the reduction of credit risk and financing cost as well as the redistribution of resources. With the crisis still unfolding, uncertainties remain and challenges lie ahead, calling for continued vigilance and enhanced risk management.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=23287
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 09/201.

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    Length: 22
    Date of creation: 01 Sep 2009
    Date of revision:
    Handle: RePEc:imf:imfwpa:09/201

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    Related research

    Keywords: Asset management; Bank restructuring; Bank soundness; Bank supervision; Banking sector; Corporate sector; Credit risk; Financial instruments; Liquidity management; Profits; Risk management; banking; capital adequacy; recapitalization; financial crisis; subordinated debt; bank assets; global financial crisis; banking system; deposit insurance; tier 1 capital; pre-crisis; liability management; retail banking; banking activities; banking model; banking supervision; banks ? loan; private banking; investment banking; bank risks; bank funding; sovereign risk; liquidity crisis; banking business; savings ratio; financial strength; financial integration; bank equity; net interest margin; contagion; bank bonds; financial contagion; bank data; bank borrowing; recession; present value; asset management companies; liquidity of banks; bank profitability; asset-liability management; present value of debt; competitiveness; banking concentration; prudential supervision; bank debt; universal banking;

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    References

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    1. Myers, Stewart C., 1977. "Determinants of corporate borrowing," Journal of Financial Economics, Elsevier, vol. 5(2), pages 147-175, November.
    2. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-54, May-June.
    3. Robert C. Merton, 1973. "Theory of Rational Option Pricing," Bell Journal of Economics, The RAND Corporation, vol. 4(1), pages 141-183, Spring.
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    Citations

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    Cited by:
    1. Hoque, Hafiz, 2013. "From the credit crisis to the sovereign debt crisis: Determinants of share price performance of global banks," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 334-350.
    2. Delis, Manthos D & Kouretas, Georgios, 2010. "Interest rates and bank risk-taking," MPRA Paper 20132, University Library of Munich, Germany.
    3. Dietrich, Andreas & Wanzenried, Gabrielle, 2011. "Determinants of bank profitability before and during the crisis: Evidence from Switzerland," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 21(3), pages 307-327, July.
    4. Michele Fratianni & Francesco Marchionne, 2013. "The fading stock market response to announcements of bank bailouts," Mo.Fi.R. Working Papers 76, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    5. Klomp, Jeroen, 2013. "Government interventions and default risk: Does one size fit all?," Journal of Financial Stability, Elsevier, vol. 9(4), pages 641-653.

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