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Securitization and crash risk : Evidence from large European banks
(11.12.2018)
Bank of Finland Research Discussion Papers 26/2018
Bank of Finland Research Discussion Papers 26/2018
The 2008 global financial crisis highlights the importance of securitization and crash risk. Yet there is a dearth of papers exploring the link between securitization and crash risk. We analyze 7,096 securitization deals ...
Domestic banks as lightning rods? Home bias and information during Eurozone crisis
(05.02.2019)
Bank of Finland Research Discussion Papers 3/2019
Bank of Finland Research Discussion Papers 3/2019
European banks have been criticized for holding excessive domestic government debt during economic downturns, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level ...
Measuring financial stress – A country specific stress index for Finland
(11.03.2015)
Bank of Finland Research Discussion Papers 7/2015
Bank of Finland Research Discussion Papers 7/2015
I propose a financial stress index (FSI) for the Finnish financial system that aims to reflect the functionality of the financial system and provide an aggregate measure of financial stress in the money, bond, equity and ...
Securitization: a financing vehicle for all seasons?
(15.12.2016)
Bank of Finland Research Discussion Papers 31/2016
Bank of Finland Research Discussion Papers 31/2016
Securitization is considered to be one of the biggest financial innovations of the last century. It is also regarded as both a catalyst and solution to the 2008 financial crisis. Once a popular method of financing the ...
Lone (Loan) Wolf Pack Risk
(16.03.2023)
Bank of Finland Research Discussion Papers 4/2023
Bank of Finland Research Discussion Papers 4/2023
This paper proposes an early-warning bank risk measure based on the syndicate concentration of recent syndicated loans that a bank participates in. At the bank level, higher values of the measure predict greater risks ...