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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 ...
Investor monitoring, money-likeness and stability of money market funds
(12.02.2021)
Bank of Finland Research Discussion Papers 2/2021
Bank of Finland Research Discussion Papers 2/2021
An asset is money-like if investors have no incentives to acquire costly private information on the underlying collateral. However, privately provided money-like assets—like prime money market fund (MMF) shares—are prone ...