Universalbanks have long played a leading role in Germany, Switzerland, and other Continental European countries. The principal financial institutions in these countries typically are universal banks offering the entire array of banldng services. Continental European banks are engaged in deposit taldng, real estate and other forms of lending, foreign exchange trading, as well as underwriting, s...

After financial crises, GDP is typically persistently weak compared to pre-crisis trends. We build a simple competitive general equilibrium model to highlight role that the financial sector may have in boosting GDP to unsustainable, undesirable levels before financial crises. Allowing banks to freely trade in financial securities exacerbates the problem. Because loans generate collateral, banks...

As part of the regulatory response to the recent global financial crisis, the Basel Committee on Banking Supervision (BCBS) announced a new international regulatory framework for banks, known as Basel III. One important component of Basel III is the Liquidity Coverage Ratio (LCR), which aims to ensure that banks hold a more liquid portfolio of assets and rely on the central bank for funding onl...

An extensive literature has found that individuals favor investments that they are more familiar with and are geographically proximate. Familiarity bias implies that foreign investors may perceive lower expected payoff and/or higher risk for domestic firm’s asset payoffs. This paper explores how a firm issues different securities across borders in segmented international financial markets under...

Our paper focuses on how the relationship between corporate strategy and securities analyst activity may yield capital markets which discourage uniqueness in strategy. We argue that corporate strategy choices influence not only the expected cash flows of the firm, which form the fundamental basis for the firm’s valuation by capital markets, but also the amount of effort exerted by those who eng...

and the staffs at the Federal Reserve Board and the Federal Reserve Banks of Boston, New York, and Philadelphia for helpful comments. The views expressed here are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. Abstract This paper conducts an in-depth analysis of structured finance asset-backed securities colla...

Over the last decade, the structure and performance of Canadian financial institutions has undergone a profound transformation. Propelled by both regulatory changes and market innovations, Canadian financial institutions have found their historically protected markets opened to intense competition from a variety of different sources. The most significant regulatory change has been the piecemeal...

The article analyses the peculiarities of global pandemic COVID-19 impact and related quarantine restrictions imposed on Ukrainian banking sector other European countries. purpose study is to determine negative consequences such an due COVID-19, as well outline effectiveness implemented (planned) measures governments central banks neutralize effects this banks. Particular attention paid to: cha...

1. This document aims at carrying out a comparison between two distinct approaches which may be used for the calculation of income on securities: (i) Security-by-security approach. This approach entails combining resident investors’ holdings of foreign securities and non-resident holdings of domestic securities (by individual securities) with the information available (e.g. in a master file dat...

Research background: The exponential growth of mortgage lending has taken on increasing importance in development securitization activities market for assets throughout the world. difficulty comparing mortgage-backed securities different countries explained by varying national legal features is reason why there no international such securities. Since 2014, entered stage nationalization; as a re...