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Displaying results 1 to 6 of 6.

  1. Firm-bank relationships
    a cross-country comparison
    Author: Kosekova, Kamelia; Maddaloni, Angela; Papoutsi, Melina; Schivardi, Fabiano
    Published: [2023]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    We document the structure of firm-bank relationships across eleven euro area coun- tries and present new stylised facts using data from the Eurosystem credit registry - AnaCredit. We look at the number of banking relationships, reliance on the main... more

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 534
    Inter-library loan:
    No inter-library loan

     

    We document the structure of firm-bank relationships across eleven euro area coun- tries and present new stylised facts using data from the Eurosystem credit registry - AnaCredit. We look at the number of banking relationships, reliance on the main bank, credit instruments, loan maturity, and interest rates. Firms in Southern Europe borrow from more banks and obtain a lower share of credit from the main bank than those in Northern Europe. They also tend to borrow more on short term, more expensive instruments and to obtain loans with shorter maturity. This is consistent with the hypothesis that firms in Southern Europe rely less on relationship banking and obtain credit less conducive to firm growth, in line with their smaller average size. Relationship lending does not translate in lower rates, possibly because banks appropriate part of the surplus generated by relationship lending through higher rates.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289961110
    Other identifier:
    hdl: 10419/278658
    Series: Working paper series / European Central Bank ; no 2826
    Subjects: AnaCredit; Firm-bank relationship; Corporate financing; Bank Credit
    Scope: 1 Online-Ressource (circa 61 Seiten), Illustrationen
  2. Firm-bank relationships
    a cross-country comparison
    Author: Kosekova, Kamelia; Maddaloni, Angela; Papoutsi, Melina; Schivardi, Fabiano
    Published: [2023]
    Publisher:  Leibniz Institute for Financial Research SAFE, Sustainable Architecture for Finance in Europe, [Frankfurt am Main]

    We document the structure of firm-bank relationships across the eleven largest euro area countries and present new stylised facts using novel data from the recent credit registry of the Eurosystem - AnaCredit. We look at the number of banking... more

    Access:
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 431
    Inter-library loan:
    No inter-library loan

     

    We document the structure of firm-bank relationships across the eleven largest euro area countries and present new stylised facts using novel data from the recent credit registry of the Eurosystem - AnaCredit. We look at the number of banking relationships, reliance on the main bank, credit instruments, loan maturity and interest rates. The granularity of the data allows us to account for cross country differences in firm characteristics. Firms in Southern European countries borrow from a larger number of banks and obtain a lower share of credit from the main bank compared to those in Northern European countries. They also tend to borrow more on short term, more expensive instruments and to obtain loans with shorter maturity. This is consistent with the hypothesis that Southern European countries rely less on relationship banking and obtain credit less conducive to firm growth, in line with the smaller average size of Southern European firms. Instead, no clear pattern emerges in terms of interest rates, consistent with the idea that banks appropriate part of the surplus generated by relationship lending through higher rates.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/273413
    Series: SAFE working paper ; no. 390 (June 2023)
    Subjects: AnaCredit; Firm-bank relationship; Corporate financing; Bank Credit
    Scope: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  3. Why are banks not recapitalized during crises?
    Author: Crosignani, Matteo
    Published: July 2017
    Publisher:  Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, D.C.

    I develop a model where the sovereign debt capacity depends on the capitalization of domestic banks. Low-capital banks optimally tilt their government bond portfolio toward domestic securities, linking their destiny to that of the sovereign. If the... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan

     

    I develop a model where the sovereign debt capacity depends on the capitalization of domestic banks. Low-capital banks optimally tilt their government bond portfolio toward domestic securities, linking their destiny to that of the sovereign. If the sovereign risk is sufficiently high, low-capital banks reduce private lending to further increase their holdings of domestic government bonds, lowering sovereign yields and supporting the home sovereign debt capacity. The model rationalizes, in the context of the eurozone periphery, the increase in domestic government bond holdings, the reduction of bank credit supply, and the prolonged fragility of the financial sector

     
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    Content information
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Finance and economics discussion series ; 2017, 084
    FEDS Working Paper ; No. 2017-084
    Subjects: Bank Capital; Bank Credit; Government Bonds; Risk-Shifting; Sovereign Crises
    Scope: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  4. The signalling role of trade credit on loan contracts
    evidence from a counterfactual analysis
    Author: Arca, Pasqualina; Atzeni, Gianfranco E.; Deidda, Luca G.
    Published: novembre 2021
    Publisher:  Arkadia, Cagliari

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    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 673
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9788868513733
    Edition: Prima edizione
    Series: Working papers / CRENoS ; 2021, 06
    Subjects: Trade credit; Signalling; Endogenous Switching Regression; Bank Credit; asymmetric information
    Scope: 1 Online-Ressource (circa 37 Seiten)
  5. Asymmetric information in corporate lending
    evidence from SME bond markets
    Author: Iannamorelli, Alessandra; Nobili, Stefano; Scalia, Antonio; Zaccaria, Luana
    Published: [2021]
    Publisher:  EIEF, Einaudi Institute for Economics and Finance, [Rom]

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    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 730
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: EIEF working paper ; 21, 05 (March 2021)
    Subjects: Asymmetric Information; Bank Credit; Bond Markets; SME Finance
    Scope: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  6. Policy uncertainty, lender of last resort and the real economy
    Author: Jasova, Martina; Mendicino, Caterina; Supera, Dominik
    Published: [2021]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    We show that a reduction in lender of last resort (LOLR) policy uncertainty posi-tively affects bank lending and propagates to investment and employment. We exploita unique policy that reduced uncertainty regarding the availability of future... more

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 534
    Inter-library loan:
    No inter-library loan

     

    We show that a reduction in lender of last resort (LOLR) policy uncertainty posi-tively affects bank lending and propagates to investment and employment. We exploita unique policy that reduced uncertainty regarding the availability of future LOLRfunding for banks as a quasi-natural experiment. Using micro-level data on banks, firms and loans in Portugal, we generate cross-sectional variation in banks' exposureto uncertainty and find that the size of thehaircut subsidy - the gap between privatemarket and central bank security valuations - plays a key role in the propagation ofthe shock to lending and the real economy.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289945219
    Other identifier:
    hdl: 10419/234075
    Series: Working paper series / European Central Bank ; no 2521 (February 2021)
    Subjects: Bank Credit; Haircut Subsidy; Central Bank Liquidity; Policy Uncertainty; Firm-level Employment and Investment
    Scope: 1 Online-Ressource (circa 67 Seiten), Illustrationen