Banks Government Bonds And Default
Download Banks Government Bonds And Default full books in PDF, epub, and Kindle. Read online free Banks Government Bonds And Default ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads.
Author |
: Nicola Gennaioli |
Publisher |
: International Monetary Fund |
Total Pages |
: 53 |
Release |
: 2014-07-08 |
ISBN-10 |
: 9781498391993 |
ISBN-13 |
: 1498391990 |
Rating |
: 4/5 (93 Downloads) |
Synopsis Banks, Government Bonds, and Default by : Nicola Gennaioli
We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks increase their exposure to public bonds, especially large banks and when expected bond returns are high. At the bank level, bondholdings correlate negatively with subsequent lending during sovereign defaults. This correlation is mostly due to bonds acquired in pre-default years. These findings shed light on alternative theories of the sovereign default-banking crisis nexus.
Author |
: Mr.Michael Andrews |
Publisher |
: International Monetary Fund |
Total Pages |
: 31 |
Release |
: 2003-11-01 |
ISBN-10 |
: 9781451973662 |
ISBN-13 |
: 1451973667 |
Rating |
: 4/5 (62 Downloads) |
Synopsis Issuing Government Bonds to Finance Bank Recapitalization and Restructuring by : Mr.Michael Andrews
Bonds issued by the government or government agencies are often used to finance bank restructuring following a systemic crisis. Many conflicting considerations affect the design of the bonds used to pay for public sector investment in bank equity or the purchase of distressed assets from banks. Some bond features can leave restructured banks facing significant risks, laying the foundation for future banking sector problems. Sovereign default makes publicly financed bank restructuring more difficult, but it is still possible to carry out if banks receive sufficient interest income to provide a margin over their cost of funds.
Author |
: Mr.Giovanni Dell'Ariccia |
Publisher |
: International Monetary Fund |
Total Pages |
: 54 |
Release |
: 2018-09-07 |
ISBN-10 |
: 9781484359624 |
ISBN-13 |
: 1484359623 |
Rating |
: 4/5 (24 Downloads) |
Synopsis Managing the Sovereign-Bank Nexus by : Mr.Giovanni Dell'Ariccia
This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.
Author |
: Sebastian Edwards |
Publisher |
: Princeton University Press |
Total Pages |
: 288 |
Release |
: 2019-09-10 |
ISBN-10 |
: 9780691196046 |
ISBN-13 |
: 0691196044 |
Rating |
: 4/5 (46 Downloads) |
Synopsis American Default by : Sebastian Edwards
The untold story of how FDR did the unthinkable to save the American economy.
Author |
: Ms.Carmen Reinhart |
Publisher |
: International Monetary Fund |
Total Pages |
: 47 |
Release |
: 2015-01-21 |
ISBN-10 |
: 9781498338387 |
ISBN-13 |
: 1498338380 |
Rating |
: 4/5 (87 Downloads) |
Synopsis The Liquidation of Government Debt by : Ms.Carmen Reinhart
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
Author |
: International Monetary Fund |
Publisher |
: International Monetary Fund |
Total Pages |
: 88 |
Release |
: 2014-12-22 |
ISBN-10 |
: 9781498342438 |
ISBN-13 |
: 1498342434 |
Rating |
: 4/5 (38 Downloads) |
Synopsis From Banking to Sovereign Stress - Implications For Public Debt by : International Monetary Fund
This paper explores how banking sector developments and characteristics influence the propagation of risks from the banking sector to sovereign debt, including how they affect the extent of fiscal costs of banking crises when those occur. It then proposes practices and policies for the fiscal authorities to help manage the risks and enhance crisis preparedness.
Author |
: Nicola Gennaioli |
Publisher |
: International Monetary Fund |
Total Pages |
: 53 |
Release |
: 2014-07-08 |
ISBN-10 |
: 9781498312172 |
ISBN-13 |
: 1498312179 |
Rating |
: 4/5 (72 Downloads) |
Synopsis Banks, Government Bonds, and Default by : Nicola Gennaioli
We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks increase their exposure to public bonds, especially large banks and when expected bond returns are high. At the bank level, bondholdings correlate negatively with subsequent lending during sovereign defaults. This correlation is mostly due to bonds acquired in pre-default years. These findings shed light on alternative theories of the sovereign default-banking crisis nexus.
Author |
: Mr.Udaibir S. Das |
Publisher |
: International Monetary Fund |
Total Pages |
: 128 |
Release |
: 2012-08-01 |
ISBN-10 |
: 9781475505535 |
ISBN-13 |
: 1475505531 |
Rating |
: 4/5 (35 Downloads) |
Synopsis Sovereign Debt Restructurings 1950-2010 by : Mr.Udaibir S. Das
This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Author |
: Rob Quail |
Publisher |
: John Wiley & Sons |
Total Pages |
: 435 |
Release |
: 2011-02-25 |
ISBN-10 |
: 9781118017555 |
ISBN-13 |
: 1118017552 |
Rating |
: 4/5 (55 Downloads) |
Synopsis Sovereign Debt by : Rob Quail
An intelligent analysis of the dangers, opportunities, and consequences of global sovereign debt Sovereign debt is growing internationally at a terrifying rate, as nations seek to prop up their collapsing economies. One only needs to look at the sovereign risk pressures faced by Greece, Spain, and Ireland to get an idea of how big this problem has become. Understanding this dilemma is now more important than ever, that's why Robert Kolb has compiled Sovereign Debt. With this book as your guide, you'll gain a better perspective on the essential issues surrounding sovereign debt and default through discussions of national defaults, systemic risk, associated costs, and much more. Historical studies are also included to provide a realistic framework of reference. Contains up-to-date research and analysis on sovereign debt from today's leading practitioners and academics Details the dangers of defaults and their associated systemic risks Explores the past, present, and future of sovereign debt The repercussions of a national default are all-encompassing as global markets are intricately interwoven in the modern world. Sovereign Debt examines what it will take to overcome the challenges of this market and how you can deal with the uncertainty surrounding it.
Author |
: Karin Lissakers |
Publisher |
: Basic Books |
Total Pages |
: 324 |
Release |
: 1993-05-18 |
ISBN-10 |
: 046500606X |
ISBN-13 |
: 9780465006069 |
Rating |
: 4/5 (6X Downloads) |
Synopsis Banks, Borrowers And The Establishment by : Karin Lissakers
This account of the international debt crisis argues that private banks must continue to play a role in lending to Eastern European and Third World countries. The book is based on research and on interviews with cabinet members, bank CEOs, Federal Reserve governors, bank examiners and others.