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Quantifying structural subsidy values for systemically important financial institutions

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Cited by:

  1. Popoyan, Lilit & Napoletano, Mauro & Roventini, Andrea, 2017. "Taming macroeconomic instability: Monetary and macro-prudential policy interactions in an agent-based model," Journal of Economic Behavior & Organization, Elsevier, vol. 134(C), pages 117-140.
  2. Fabrizio Crespi & Emanuela Giacomini & Danilo V. Mascia, 2019. "Bail‐in rules and the pricing of Italian bank bonds," European Financial Management, European Financial Management Association, vol. 25(5), pages 1321-1347, November.
  3. Tölö, Eero & Jokivuolle, Esa & Viren, Matti, 2019. "Has banks' monitoring of other banks strengthened post-crisis? Evidence from the European overnight market," Research Discussion Papers 22/2019, Bank of Finland.
  4. Tryggvi Gudmundsson, 2016. "Whose Credit Line is it Anyway: An Update on Banks' Implicit Subsidies," IMF Working Papers 2016/224, International Monetary Fund.
  5. Francesco Lamperti & Antoine Mandel & Mauro Napoletano & Alessandro Sapio & Andrea Roventini & Tomas Balint & Igor Khorenzhenko, 2017. "Taming macroeconomic instability," PSE-Ecole d'économie de Paris (Postprint) hal-03399574, HAL.
  6. Oliver Denk & Boris Cournède, 2015. "Finance and income inequality in OECD countries," OECD Economics Department Working Papers 1224, OECD Publishing.
  7. Casiraghi, Marco, 2020. "Bailouts, sovereign risk and bank portfolio choices," Journal of Banking & Finance, Elsevier, vol. 119(C).
  8. repec:hal:spmain:info:hdl:2441/5bnglqth5987gaq6dhju3psjn3 is not listed on IDEAS
  9. Rafael Felipe Schiozer & Frederico Abou Mourad & Theo Cotrim Martins, 2021. "A Tutorial on the Use of Differences-in-Differences in Management, Finance, and Accounting," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 25(1), pages 200067-2000.
  10. David Grossmann & Peter Scholz, 2017. "Bank Regulation: One Size Does Not Fit All," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 7(5), pages 1-1.
  11. Yu-Li Huang & Chung-Hua Shen & Kun-Li Lin, 2022. "Did the rating standard for banks change after the crisis?," Review of Quantitative Finance and Accounting, Springer, vol. 58(4), pages 1617-1663, May.
  12. Oana Toader, 2015. "Estimating the impact of higher capital requirements on the cost of equity: an empirical study of European banks," International Economics and Economic Policy, Springer, vol. 12(3), pages 411-436, September.
  13. Mr. Lev Ratnovski, 2013. "Competition Policy for Modern Banks," IMF Working Papers 2013/126, International Monetary Fund.
  14. Eero Tölö & Esa Jokivuolle & Matti Viren, 2021. "Have Too-Big-to-Fail Expectations Diminished? Evidence from the European Overnight Interbank Market," Journal of Financial Services Research, Springer;Western Finance Association, vol. 60(1), pages 25-54, August.
  15. Antzoulatos, Angelos A. & Tsoumas, Chris, 2014. "Institutions, moral hazard and expected government support of banks," Journal of Financial Stability, Elsevier, vol. 15(C), pages 161-171.
  16. Umlauft, Thomas, 2014. "The Paradoxical Genesis of Too-Big-To-Fail," MPRA Paper 99301, University Library of Munich, Germany.
  17. Dombret Andreas & Liebig Thilo & Stein Ingrid, 2014. "Trennbankensystem – ein Weg zu mehr Finanzstabilität in Deutschland?," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 15(1), pages 41-55, February.
  18. Javed Ahmed & Christopher Anderson & Rebecca Zarutskie, 2015. "Are the Borrowing Costs of Large Financial Firms Unusual?," Working Papers 15-10, Office of Financial Research, US Department of the Treasury.
  19. Joyce, Michael & Spaltro, Marco, 2014. "Quantitative easing and bank lending: a panel data approach," Bank of England working papers 504, Bank of England.
  20. Andrea Bellucci & Gianluca Gucciardi, 2023. "A Turning Point for Banking: Unravelling the Changing Landscape of Banking Activity in Europe since the COVID-19 pandemic," Mo.Fi.R. Working Papers 183, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
  21. Rainer Masera, 2014. "CRR/CRD IV: the trees and the forest," PSL Quarterly Review, Economia civile, vol. 67(271), pages 381-422.
  22. Tölö, Eero & Jokivuolle, Esa & Viren, Matti, 2019. "Has banks' monitoring of other banks strengthened post-crisis? Evidence from the European overnight market," Bank of Finland Research Discussion Papers 22/2019, Bank of Finland.
  23. Wojewodzki, Michal & Boateng, Agyenim & Brahma, Sanjukta, 2020. "Credit rating, banks' capital structure and speed of adjustment: A cross-country analysis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 69(C).
  24. Tomas Mantecon & Adel Almomen & He Ren & Yi Zheng, 2023. "An analysis of the potential impact of heightened capital requirements on banks’ cost of capital," Journal of Financial Services Research, Springer;Western Finance Association, vol. 64(3), pages 325-368, December.
  25. Marwan Alzoubi & Ayman Abdalmajeed Alsmadi & Hamad kasasbeh, 2022. "Systemically Important Bank: A Bibliometric Analysis for the Period of 2002 to 2022," SAGE Open, , vol. 12(4), pages 21582440221, December.
  26. Toader, Oana, 2015. "Quantifying and explaining implicit public guarantees for European banks," International Review of Financial Analysis, Elsevier, vol. 41(C), pages 136-147.
  27. Thomas Nitschka, 2016. "Is There a Too-Big-to-Fail Discount in Excess Returns on German Banks’ Stocks?," International Finance, Wiley Blackwell, vol. 19(3), pages 292-310, December.
  28. Tölö, Eero & Jokivuolle, Esa & Virén, Matti, 2015. "Are too-big-to-fail banks history in Europe? Evidence from overnight interbank loans," Bank of Finland Research Discussion Papers 29/2015, Bank of Finland.
  29. Arslanalp, Serkan & Liao, Yin, 2014. "Banking sector contingent liabilities and sovereign risk," Journal of Empirical Finance, Elsevier, vol. 29(C), pages 316-330.
  30. Andrea Zaghini, 2014. "Bank Bonds: Size, Systemic Relevance and the Sovereign," International Finance, Wiley Blackwell, vol. 17(2), pages 161-184, June.
  31. Borys Grochulski & Yuzhe Zhang, 2019. "Optimal liquidity policy with shadow banking," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 68(4), pages 967-1015, November.
  32. repec:zbw:bofrdp:2015_029 is not listed on IDEAS
  33. Florian Christopher Buck, 2015. "The Rents of Banking A Public Choice Approach to Bank Regulation," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 59.
  34. Jose Fique, 2016. "A Microfounded Design of Interconnectedness-Based Macroprudential Policy," Staff Working Papers 16-6, Bank of Canada.
  35. Stijn Claessens, 2017. "Global Banking: Recent Developments and Insights from Research," Review of Finance, European Finance Association, vol. 21(4), pages 1513-1555.
  36. Elayan, Fayez A. & Aktas, Rafet & Brown, Kareen & Pacharn, Parunchana, 2018. "The impact of the Volcker rule on targeted banks, systemic risk, liquidity, and financial reporting quality," Journal of Economics and Business, Elsevier, vol. 96(C), pages 69-89.
  37. Masciantonio, Sergio, 2013. "Identifying, ranking and tracking systemically important financial institutions (SIFIs), from a global, EU and Eurozone perspective," MPRA Paper 46788, University Library of Munich, Germany.
  38. Breton, R. & Pinto, C. & Weber, P.F., 2012. "Banks, moral hazard, and public debts," Financial Stability Review, Banque de France, issue 16, pages 57-70, April.
  39. repec:hal:spmain:info:hdl:2441/5hussro0tc951q0jqpu8quliqu is not listed on IDEAS
  40. Richard Davies & Belinda Tracey, 2014. "Too Big to Be Efficient? The Impact of Implicit Subsidies on Estimates of Scale Economies for Banks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(s1), pages 219-253, February.
  41. Huang, Yu-Li & Shen, Chung-Hua, 2021. "From revenue to safety: Rating agencies have changed their concerns after the crisis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 73(C).
  42. Michael R. King & Steven Ongena & Nikola Tarashev, 2020. "Bank Standalone Credit Ratings," International Journal of Central Banking, International Journal of Central Banking, vol. 16(4), pages 101-144, September.
  43. Schnabel, Isabel & Weder di Mauro, Beatrice & Schäfer, Alexander, 2016. "Bail-in Expectations for European Banks: Actions Speak Louder than Words," CEPR Discussion Papers 11061, C.E.P.R. Discussion Papers.
  44. Schäfer, Alexander & Schnabel, Isabel & Weder di Mauro, Beatrice, 2016. "Bail-in Expectations for European Banks: Actions Speak Louder than Words," CEPR Discussion Papers 11061, C.E.P.R. Discussion Papers.
  45. Claudia M. Buch & Linda S. Goldberg, 2021. "Complexity and Riskiness of Banking Organizations: Evidence from the International Banking Research Network," Staff Reports 966, Federal Reserve Bank of New York.
  46. Nicola Cetorelli & James Traina, 2021. "Resolving “Too Big to Fail”," Journal of Financial Services Research, Springer;Western Finance Association, vol. 60(1), pages 1-23, August.
  47. Frederic Malherbe, 2020. "Optimal Capital Requirements over the Business and Financial Cycles," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(3), pages 139-174, July.
  48. Behn, Markus & Schramm, Alexander, 2020. "The impact of G-SIB identification on bank lending: evidence from syndicated loans," Working Paper Series 2479, European Central Bank.
  49. David Grossmann & Peter Scholz, 2019. "The golden rule of banking: funding cost risks of bank business models," Journal of Banking Regulation, Palgrave Macmillan, vol. 20(2), pages 174-196, June.
  50. Robert McKeown, 2017. "Costs, Size And Returns To Scale Among Canadian And U.s. Commercial Banks," Working Paper 1382, Economics Department, Queen's University.
  51. Jakob Korbinian Eberl, 2016. "The Collateral Framework of the Eurosystem and Its Fiscal Implications," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 69.
  52. Christopher F. Baum & Caterina Forti Grazzini & Dorothea Schäfer, 2020. "Institutional Diversity in Domestic Banking Sectors and Bank Stability: A Cross-Country Study," Discussion Papers of DIW Berlin 1869, DIW Berlin, German Institute for Economic Research.
  53. Cummings, James R. & Guo, Yilian, 2020. "Do the Basel III capital reforms reduce the implicit subsidy of systemically important banks? Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 59(C).
  54. Leanza, Luca & Sbuelz, Alessandro & Tarelli, Andrea, 2021. "Bail-in vs bail-out: Bank resolution and liability structure," International Review of Financial Analysis, Elsevier, vol. 73(C).
  55. Mr. Stijn Claessens & Ms. Laura E. Kodres, 2014. "The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions," IMF Working Papers 2014/046, International Monetary Fund.
  56. Mr. Serkan Arslanalp & Yin Liao, 2015. "Contingent Liabilities from Banks: How to Track Them?," IMF Working Papers 2015/255, International Monetary Fund.
  57. Acharya, Viral & Anginer, Deniz & Warburton, Joe, 2016. "The End of Market Discipline? Investor Expectations of Implicit Government Guarantees," MPRA Paper 79700, University Library of Munich, Germany.
  58. Purda, Lynnette & Sonmez, Fatma & Zhong, Ligang, 2015. "Financial institution credit assessment and implications for portfolio managers," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 38(C), pages 148-166.
  59. M. Bijlsma & J.H.J. Lukkezen & K. Marinova, 2014. "Measuring too-big-to-fail funding advantages from small banks’ CDS spreads," Working Papers 14-03, Utrecht School of Economics.
  60. Schäfer, Alexander & Schnabel, Isabel & Weder di Mauro, Beatrice, 2016. "Bail-in expectations for European banks: Actions speak louder than words," ESRB Working Paper Series 7, European Systemic Risk Board.
  61. repec:zbw:bofrdp:2019_022 is not listed on IDEAS
  62. repec:bof:bofrdp:urn:nbn:fi:bof-201512151482 is not listed on IDEAS
  63. Hüser, Anne-Caroline & Hałaj, Grzegorz & Kok, Christoffer & Perales, Cristian & van der Kraaij, Anton, 2018. "The systemic implications of bail-in: A multi-layered network approach," Journal of Financial Stability, Elsevier, vol. 38(C), pages 81-97.
  64. Bongini, Paola & Nieri, Laura & Pelagatti, Matteo & Piccini, Andrea, 2017. "Curbing systemic risk in the insurance sector: A mission impossible?," The British Accounting Review, Elsevier, vol. 49(2), pages 256-273.
  65. Zhang, Ran & Li, Yifei & Tian, Yuan, 2022. "Corporate bonds with implicit government guarantees," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).
  66. Bernadette A Minton & René M Stulz & Alvaro G Taboada, 2019. "Are the Largest Banks Valued More Highly?," The Review of Financial Studies, Society for Financial Studies, vol. 32(12), pages 4604-4652.
  67. Moenninghoff, Sebastian C. & Ongena, Steven & Wieandt, Axel, 2015. "The perennial challenge to counter Too-Big-to-Fail in banking: Empirical evidence from the new international regulation dealing with Global Systemically Important Banks," Journal of Banking & Finance, Elsevier, vol. 61(C), pages 221-236.
  68. Sascha Kolaric & Florian Kiesel & Steven Ongena, 2021. "Market Discipline through Credit Ratings and Too‐Big‐to‐Fail in Banking," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(2-3), pages 367-400, March.
  69. Poghosyan, Tigran & Werger, Charlotte & de Haan, Jakob, 2016. "Size and support ratings of US banks," The North American Journal of Economics and Finance, Elsevier, vol. 37(C), pages 236-247.
  70. Bongini, Paola & Clemente, Gian Paolo & Grassi, Rosanna, 2018. "Interconnectedness, G-SIBs and network dynamics of global banking," Finance Research Letters, Elsevier, vol. 27(C), pages 185-192.
  71. Patricia Palhau Mora & Michael Januska, 2016. "On the Nexus of Monetary Policy and Financial Stability: Is the Financial System More Resilient?," Discussion Papers 16-12, Bank of Canada.
  72. Timothy C. Irwin, 2016. "Getting the Dog to Bark: Disclosing Fiscal Risks from the Financial Sector," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 1-17, June.
  73. Robert McKeown, 2017. "Where Are The Economies Of Scale In Canadian Banking?," Working Paper 1380, Economics Department, Queen's University.
  74. Tölö, Eero & Jokivuolle, Esa & Virén, Matti, 2015. "Are too-big-to-fail banks history in Europe? Evidence from overnight interbank loans," Research Discussion Papers 29/2015, Bank of Finland.
  75. Sebastian Schich & Arturo Estrella, 2015. "Valuing guaranteed bank debt: Role of strength and size of the bank and the guarantor," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 3(5), pages 19-32, October.
  76. Gündüz, Yalin, 2020. "The market impact of systemic risk capital surcharges," Discussion Papers 09/2020, Deutsche Bundesbank.
  77. Tsafack, Georges & Li, Yifei & Beliaeva, Natalia, 2021. "Too-big-to-fail: The value of government guarantee," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
  78. Velliscig, Giulio & Floreani, Josanco & Polato, Maurizio, 2022. "How do bail-in amendments in Directive (EU) 2017/2399 affect the subordinated bond yields of EU G-SIBs?," Journal of Empirical Finance, Elsevier, vol. 68(C), pages 173-189.
  79. Markoulis, Stelios & Martzoukos, Spiridon & Patsalidou, Elena, 2022. "Global systemically important banks regulation: Blessing or curse?," Global Finance Journal, Elsevier, vol. 52(C).
  80. Noss, Joseph & Sowerbutts, Rhiannon, 2012. "Financial Stability Paper No 15: The implicit subsidy of banks," Bank of England Financial Stability Papers 15, Bank of England.
  81. Siegert, Casper & Willison, Matthew, 2015. "Financial Stability Paper 32: Estimating the extent of the ‘too big to fail’ problem – a review of existing approaches," Bank of England Financial Stability Papers 32, Bank of England.
  82. Wald Nowotny, 2013. "The Economics of Financial Regulation," Chapters, in: Andreas Dombret & Otto Lucius (ed.), Stability of the Financial System, chapter 15, Edward Elgar Publishing.
  83. Paweł Smaga, 2013. "Wpływ Europejskiej Rady Ryzyka Systemowego na stabilność finansową w UE," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 3, pages 5-35.
  84. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2014. "Mehr Vertrauen in Marktprozesse. Jahresgutachten 2014/15 [More confidence in market processes. Annual Report 2014/15]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201415.
  85. Karolina Puławska, 2022. "Taxation of the financial sector: Is a bank levy the answer to the financial crisis?," Journal of Banking Regulation, Palgrave Macmillan, vol. 23(4), pages 390-404, December.
  86. Zhu, Jiaqing & Li, Guangzhong & Li, Jie, 2017. "Merge to be too big to fail: A real option approach," International Review of Economics & Finance, Elsevier, vol. 51(C), pages 342-353.
  87. Lilit Popoyan & Mauro Napoletano & Andrea Roventini, 2023. "Systemically important banks - emerging risk and policy responses: An agent-based investigation," LEM Papers Series 2023/30, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  88. Stefan Jacewitz & Jonathan Pogach, 2018. "Deposit Rate Advantages at the Largest Banks," Journal of Financial Services Research, Springer;Western Finance Association, vol. 53(1), pages 1-35, February.
  89. Lei Zhao, 2018. "Market†based estimates of implicit government guarantees in European financial institutions," European Financial Management, European Financial Management Association, vol. 24(1), pages 79-112, January.
  90. Daniel Snethlage, 2015. "Towards Putting a Price on the Risk of Bank Failure," Treasury Working Paper Series 15/03, New Zealand Treasury.
  91. Pablos Nuevo, Irene, 2019. "Has the new bail-in framework increased the yield spread between subordinated and senior bonds?," Working Paper Series 2317, European Central Bank.
  92. Andreas Dombret & André Ebner, 2013. "Default of Systemically Important Financial Intermediaries: Short-term Stability versus Incentive Compatibility?," German Economic Review, Verein für Socialpolitik, vol. 14(1), pages 15-30, February.
  93. Ignatowski, Magdalena & Korte, Josef & Werger, Charlotte, 2015. "Between capture and discretion - The determinants of distressed bank treatment and expected government support," Working Paper Series 1835, European Central Bank.
  94. Frederic Lambert & Mr. Kenichi Ueda, 2014. "The Effects of Unconventional Monetary Policies on Bank Soundness," IMF Working Papers 2014/152, International Monetary Fund.
  95. Klaas H. W. Knot & Hanne van Voorden, 2013. "Sytemically Important Banks - Possible Options for Policy Makers," Chapters, in: Andreas Dombret & Otto Lucius (ed.), Stability of the Financial System, chapter 12, Edward Elgar Publishing.
  96. Schertler, Andrea & Moch, Nils, 2021. "Bank foreign assets, government support and international spillover effects of sovereign rating events on bank stock prices," Journal of Banking & Finance, Elsevier, vol. 130(C).
  97. Frank Milne, 2012. "Economic Crises: The Impact On Australia And Canada," Working Paper 1296, Economics Department, Queen's University.
  98. repec:zbw:bofrdp:urn:nbn:fi:bof-201512151482 is not listed on IDEAS
  99. Behn, Markus & Schramm, Alexander, 2021. "The impact of G-SIB identification on bank lending: Evidence from syndicated loans," Journal of Financial Stability, Elsevier, vol. 57(C).
  100. Mario Bellia & Sara Maccaferri & Sebastian Schich, 2022. "Limiting too-big-to-fail: market reactions to policy announcements and actions," Journal of Banking Regulation, Palgrave Macmillan, vol. 23(4), pages 368-389, December.
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