Direkt zur Hauptnavigation springen Direkt zum Inhalt springen
info(at)avldigital.remove-this.de
Deutsch English
Filtern nach
Aktive Filter
Letzte Suchanfragen

Ergebnisse für *

Zeige Ergebnisse 1 bis 2 von 2.

  1. Bank private information in CDS markets
    Autor*in: Bilan, Andrada; Ongena, Steven; Pancaro, Cosimo
    Erschienen: [2023]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    Can banks trade credit default swaps (CDSs) referenced on their current corporate clients at competitive prices, or are banks penalized for potentially holding private information? To answer this question we merge CDS trades reported under the... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 534
    Fernleihe:
    keine Fernleihe

     

    Can banks trade credit default swaps (CDSs) referenced on their current corporate clients at competitive prices, or are banks penalized for potentially holding private information? To answer this question we merge CDS trades reported under the European Market Infrastructure Regulation (EMIR) with syndicated loans from DealScan, and compare the prices on similar CDSs that the same dealer offers to banks and to other investors. We find that banks lending to a corporation purchase CDSs on this corporation at lower prices, and that, after trading with banks, dealers can earn higher margins on these CDSs when trading with other investors. Our findings suggest that banks hold valuable private information which is shared in their trades with dealers. Dealers then disseminate this information to financial markets.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289960816
    Weitere Identifier:
    hdl: 10419/278582
    Schriftenreihe: Working paper series / European Central Bank ; no 2818
    Schlagworte: Credit Derivatives; Banks; Price Discovery; EMIR; Syndicated Loans
    Umfang: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  2. Decentralized finance and central bank communication
    Autor*in: Hansson, Magnus
    Erschienen: 2023
    Verlag:  University of Gothenburg, Gothenburg

    Zugang:
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 698
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Dissertation
    Format: Online
    ISBN: 9789188199706
    Weitere Identifier:
    hdl: 2077/76226
    Schriftenreihe: Economic studies / Department of Economics, School of Business, Economics and Law, University of Gothenburg ; 255
    Schlagworte: Decentralized Finance; Decentralized Exchanges; Constant Product Markets; Arbitrage; Ethereum Blockchain; Automated Market Makers; Price Discovery; Market Microstructure; Maximal Extractable Value; Central Bank Communication; Textual Analysis; Narrative Economics
    Umfang: 1 Online-Ressource (4 PDFs), Illustrationen
    Bemerkung(en):

    Dissertation, University of Gothenburg, 2022