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Le emissioni delle banche italiane sull' euromercato

Author

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  • Paolo Emilio Mistrulli

    (Banca dÕItalia, Servizio Studi, Roma)

Abstract

After the launch of the single European currency banks of the main euro-area countries have increasingly issued bonds on the Euromarket. In this paper, I investigate the determinants of Italian banks' recourse to international capital markets. I find that, other things being equal, domestic market conditions affect the choice whether to issue Eurobonds. In particular, the econometric analysis highlights that those banks, which are more prone to issue bonds on the Euromarket, are more exposed to liquidity risks and are less specialized in raising deposits on specific domestic submarkets.

Suggested Citation

  • Paolo Emilio Mistrulli, 2003. "Le emissioni delle banche italiane sull' euromercato," Moneta e Credito, Economia civile, vol. 56(224), pages 461-480.
    • Handle: RePEc:psl:moneta:2003:43
    as

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    File URL: http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9815/9700
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    References listed on IDEAS

    as
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    Keywords

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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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