A Survey of Recent Changes in Financial Institution Bonds
Author | : Robin V. Weldy |
Publisher | : |
Total Pages | : 14 |
Release | : 1976 |
Genre | : Surety and fidelity insurance |
ISBN | : |
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Author | : Robin V. Weldy |
Publisher | : |
Total Pages | : 14 |
Release | : 1976 |
Genre | : Surety and fidelity insurance |
ISBN | : |
Author | : Nicola Gennaioli |
Publisher | : International Monetary Fund |
Total Pages | : 53 |
Release | : 2014-07-08 |
Genre | : Business & Economics |
ISBN | : 1498391990 |
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 | : Duncan L. Clore |
Publisher | : American Bar Association |
Total Pages | : 1088 |
Release | : 2008 |
Genre | : Business & Economics |
ISBN | : 9781604422788 |
Author | : Michael Keeley |
Publisher | : American Bar Association |
Total Pages | : 760 |
Release | : 2004 |
Genre | : Business & Economics |
ISBN | : 9781590313206 |
Author | : Mr. Alfred Schipke |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 2019-03-13 |
Genre | : Business & Economics |
ISBN | : 151358278X |
China’s bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country’s bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China’s bond market structure, its unique characteristics, and areas where reforms are needed. This volume comprehensively analyzes the different segments of China’s bond market, from sovereign, policy bank, and credit bonds, to the rapidly growing local government bond market. It also covers bond futures, green bonds, and asset-backed securities, as well as China’s offshore market, which has played a major role in onshore market development.
Author | : El Bachir Boukherouaa |
Publisher | : International Monetary Fund |
Total Pages | : 35 |
Release | : 2021-10-22 |
Genre | : Business & Economics |
ISBN | : 1589063953 |
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author | : Gilbert J. Schroeder |
Publisher | : American Bar Association |
Total Pages | : 724 |
Release | : 2007 |
Genre | : Business & Economics |
ISBN | : 9781590319437 |
Author | : Cole Stephen Kain |
Publisher | : American Bar Association |
Total Pages | : 836 |
Release | : 2006 |
Genre | : Business insurance |
ISBN | : 9781590317914 |
Author | : Mr.Udaibir S. Das |
Publisher | : International Monetary Fund |
Total Pages | : 128 |
Release | : 2012-08-01 |
Genre | : Business & Economics |
ISBN | : 1475505531 |
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.