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Growing like Germany : Local public debt, local banks, low private investment
(22.08.2022)
Bank of Finland Research Discussion Papers 9/2022
Bank of Finland Research Discussion Papers 9/2022
Over 2010-2016, municipal debt in Germany crowded out private investment worth 1 percent of GDP. Forced to lend to municipalities by their statutes, local public banks compensated for declining municipal-debt yields by ...
Bank instability: Interbank linkages and the role of disclosure
(14.07.2020)
Bank of Finland Research Discussion Papers 14/2020
Bank of Finland Research Discussion Papers 14/2020
We study the impact of disclosure about bank fundamentals on depositors’ behavior in the presence (and absence) of economic linkages between financial institutions. Using a controlled laboratory environment, we identify ...
Are bank capital requirements optimally set? Evidence from researchers’ views
(02.06.2020)
Bank of Finland Research Discussion Papers 10/2020
Bank of Finland Research Discussion Papers 10/2020
We survey 149 leading academic researchers on bank capital regulation. The median (average) respondent prefers a 10% (15%) minimum non-risk-weighted equity-to-assets ratio, which is considerably higher than the current ...
Precision of Public Information Disclosures, Banks’ Stability and Welfare
(04.03.2021)
Bank of Finland Research Discussion Papers 3/2021
Bank of Finland Research Discussion Papers 3/2021
We study the optimal precision of public information disclosures about banks assets quality. In our model the precision of information affects banks' cost of raising funding and asset profile riskiness. In an imperfectly ...
When uncertainty decouples expected and unexpected losses
(26.01.2022)
Bank of Finland Research Discussion Papers 4/2022
Bank of Finland Research Discussion Papers 4/2022
A parsimonious extension of a well-known portfolio credit-risk model allows us to study a salient stylized fact – abrupt switches between high- and low-loss phases– from a risk-management perspective. As uncertainty about ...
Forecasting expected and unexpected losses
(21.12.2020)
Bank of Finland Research Discussion Papers 18/2020
Bank of Finland Research Discussion Papers 18/2020
Extending a standard credit-risk model illustrates that a single factor can drive both expected losses and the extent to which they may be exceeded in extreme scenarios, ie “unexpected losses.” This leads us to develop a ...
The effects of ratings-contingent regulation on international bank lending behavior: Evidence from the Basel 2 accord
(21.10.2014)
Bank of Finland Research Discussion Papers 25/2014
Bank of Finland Research Discussion Papers 25/2014
We investigate the effects of credit ratings-contingent financial regulation on foreign bank lending behavior. We examine the sensitivity of international bank flows to debtor countries’ sovereign credit rating changes ...
Why are bank runs sometimes partial?
(09.04.2015)
Bank of Finland Research Discussion Papers 10/2015
Bank of Finland Research Discussion Papers 10/2015
Concern that government may not guarantee bank deposits in a future crisis can cause a bank run. The government may break its guarantee during a severe crisis because of time-inconsistent preferences regarding the use of ...
Switching costs in the Finnish retail deposit market
(05.09.2019)
Bank of Finland Research Discussion Papers 15/2019
Bank of Finland Research Discussion Papers 15/2019
I calibrate switching cost for the Finnish retail deposit market by using the approach developed by Oz Shy (2002). It turns out that switching costs faced by deposit customers of the main banks are high, ranging from 200 ...
Crisis performance of European banks – does management ownership matter?
(26.11.2014)
Bank of Finland Research Discussion Papers 28/2014
Bank of Finland Research Discussion Papers 28/2014
Failure in bank corporate governance has been seen as a contributing factor to excessive risk-taking pre-crisis with devastating implications as risks realised during the financial crisis. Unfortunately, the empirical ...