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  1. Bank funding risk, reference rates, and credit supply
    Autor*in: Cooperman, Harry R.; Duffie, Darrell; Yang, Yilin; Luck, Stephan; Wang, Zachry Z.
    Erschienen: [2023]
    Verlag:  Stanford Institute for Economic Policy Research (SIEPR), Stanford, CA

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper / Stanford Institute for Economic Policy Research (SIEPR) ; no. 23, 12 (February, 2023)
    NBER working paper series ; 30907
    Schlagworte: Kreditgeschäft; Interbankenmarkt; Kreditrisiko; Kreditwürdigkeit; Bankrisiko; Geldmarkt; Finanzkrise; Zins; Zinsstruktur; bank funding risk; credit supply; reference rates; credit lines; London Interbank Offered Rate (LIBOR); Secured Overnight Financing Rate (SOFR); Money and Interest Rates; Interest Rates: Determination, Term Structure, and Effects; General; Financial Crises; Behavioral Finance: Underlying Principles; General; Banks; Depository Institutions; Micro Finance Institutions; Mortgages
    Umfang: 1 Online-Ressource (circa 65 Seiten), Illustrationen
  2. Bank funding risk, reference rates, and credit supply
    Autor*in: Cooperman, Harry; Duffie, Darrell; Luck, Stephan; Wang, Zachry; Yang, Yilin
    Erschienen: [2023]
    Verlag:  Federal Reserve Bank of New York, New York, NY

    Corporate credit lines are drawn more heavily when funding markets are more stressed. This covariance elevates expected bank funding costs. We show that credit supply is dampened by the associated debtoverhang cost to bank shareholders. Until 2022,... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 207
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    Corporate credit lines are drawn more heavily when funding markets are more stressed. This covariance elevates expected bank funding costs. We show that credit supply is dampened by the associated debtoverhang cost to bank shareholders. Until 2022, this impact was reduced by linking the interest paid on lines to credit-sensitive reference rates such as LIBOR. We show that transition to risk-free reference rates may exacerbate this friction. The adverse impact on credit supply is offset if drawdowns are expected to be left on deposit at the same bank, which happened at some of the largest banks during the COVID recession.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/272855
    Auflage/Ausgabe: Revised February 2023
    Schriftenreihe: Staff reports / Federal Reserve Bank of New York ; no. 1042 (December 2022)
    Schlagworte: Kreditgeschäft; Interbankenmarkt; Kreditrisiko; Kreditwürdigkeit; Bankrisiko; Geldmarkt; Finanzkrise; bank funding risk; credit supply; reference rates; credit lines; London Interbank Offered Rate (LIBOR); Secured Overnight Financing Rate (SOFR)
    Umfang: 1 Online-Ressource (circa 64 Seiten), Illustrationen