Bank Underground

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[New post] Strengthening the resilience of market-based finance

BankUnderground posted: " Naoto Takemoto, Simon Jurkatis and Nicholas Vause In less than two decades, the system of market-based finance (MBF) – which involves mainly non-bank financial
9 : 4

[New post] What is the information content of oil futures curves?

BankUnderground posted: " Julian Reynolds Moves in oil prices have significant implications for the global economic outlook, affecting consumer prices, firm costs and country export revenues. But
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[New post] Bitesize: The pricing of credit risk

BankUnderground posted: " Barbara Jankowiak, Natan Misak and Nicholas Vause Both financial market participants and regulators have suggested that investor risk appetite has declined since the
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[New post] When the lights go out: why does operational risk matter for financial stability?

BankUnderground posted: " Rachel Adeney and Amy Fraser Operational risk is rapidly becoming one of the most important threats to the financial system but is also one of the least well understood.
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[New post] How broad-based is the increase in UK inflation?

BankUnderground posted: " Galina Potjagailo, Boromeus Wanengkirtyo and Jenny Lam CPI inflation in the UK has markedly increased over the last year, reaching 10.1% in September. The aggregate
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[New post] Capitalising climate risks: what are we weighting for?

BankUnderground posted: " David Swallow and Chris Faint Policymakers have been investing heavily, to an accelerated timeline, to better understand the financial risks from climate change and to
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[New post] Old problems with new assets: some of crypto’s challenges look strangely familiar

BankUnderground posted: " John Lewis Cryptoassets and the crypto ecosystem as a whole has to face many of the same challenges as conventional assets and the regular financial system do. The same
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[New post] Bitesize: Riding the waves: the breadth of global monetary policy changes

BankUnderground posted: " Shaheen Bhikhu and Thomas Viegas Central banks respond to inflation by setting interest rates in order to achieve domestic price stability. Occasionally, economic shocks
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[New post] Bonus episode: understanding pay and labour market tightness

BankUnderground posted: " Josh Martin Everyone likes a bonus – be it a bonus in pay, or a bonus episode for your favourite TV show. Everyone, that is, except statisticians. Bonuses are hard to
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[New post] Swing or amiss: are fund pricing rules good for financial stability?

BankUnderground posted: " Benjamin King and Jamie Semark Open-ended funds (OEFs) offer daily redemptions to investors, often while holding illiquid assets that take longer to sell. There is
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[New post] Trapped in a web of debt? Inefficiencies from corporate debt and the potential case for macroprudential intervention

BankUnderground posted: " Emily Clayton and Martina Fazio Debt creates threads between the financial system and the real economy. These threads transmit shocks across a web of connections, meaning
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[New post] Measuring capital at risk in the UK banking sector

BankUnderground posted: " Giovanni Covi, James Brookes and Charumathi Raja How banks are exposed to the financial system and real-economy determines concentration risk and interconnectedness in
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[New post] Back to the Future IV: challenges for financial stability policy in the next decade

BankUnderground posted: " Alina Barnett, Sinem Hacioglu Hoke and Simon Lloyd Since 2007, macroprudential policymakers have grappled with a broad set of vulnerabilities. While regulators cannot be
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[New post] The Basel regulatory framework: evolution of its textual complexity

BankUnderground posted: " James Brookes, Matthew Everitt and Quynh-Anh Vo The Basel III framework put in place in the aftermath of the Global Financial Crisis 2007–08 consists of a range of
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[New post] Monetary policy transmission during QE times: role of expectations and premia channels

BankUnderground posted: " Iryna Kaminska and Haroon Mumtaz Since 2009, when policy rates reached their effective lower bound, quantitative easing (QE) has become an important instrument of central
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[New post] Sizing UK banking sector’s exposures to climate policy relevant sectors

BankUnderground posted: " Giovanni Covi, James Brookes and Charumathi Raja Climate transition will undoubtedly expose UK banks to new risks and opportunities. Hence, we quantify the UK banking
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[New post] Shifting the composition of start-up cohorts can boost macroeconomic performance

BankUnderground posted: " Ralph de Haas, Vincent Sterk and Neeltje van Horen Anaemic productivity growth and limited business dynamism remain key policy concerns in Europe and the US. Policies to
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[New post] Cryptoassets, the metaverse and systemic risk

BankUnderground posted: " Owen Lock and Teresa Cascino Cryptoassets could have important roles within the metaverse – a decentralised, immersive next generation of the internet. Cryptoassets
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[New post] Who took out mortgage payment holidays during the pandemic?

BankUnderground posted: " Georgina Green The take-up of mortgage payment holidays in the UK during the Covid-19 pandemic was extraordinary: according to UK Finance, holidays granted reached a peak
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[New post] Rolling substitutions in financial markets: did quantitative easing in 2020 lead to portfolio rebalancing?

BankUnderground posted: " Jack Worlidge Purchases of government bonds have been a prominent tool that has helped central banks meet inflation objectives when short-term interest rates have been