Bank Underground

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[New post] It’s windy when it’s wet why UK insurers may need to reassess their modelling assumptions

BankUnderground posted: " Giorgis Hadzilacos, Ryan Li, Paul Harrington, Shane Latchman, John Hillier, Richard Dixon, Charlie New, Alex Alabaster and Tanya Tsapko The 2015/16 storms caused the most
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[New post] What to expect when they’re expecting

BankUnderground posted: " Maren Froemel, Mike Joyce and Iryna Kaminska Introduction During 2020 the MPC announced a further £450 billion of QE purchases, slightly more than the total amount of
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[New post] Uncertainty and voting in monetary policy committees

BankUnderground posted: " Alastair Firrell and Kate Reinold The right stance for monetary policy is highly uncertain, and so it is no surprise that members of monetary policy committees – like the
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[New post] Negotiating nationalisation

BankUnderground posted: " Austen Saunders 1 March 2021 was the 75th anniversary of the Bank of England's nationalisation. While its stock formerly passed into public ownership in 1946, Lord
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[New post] Cloudy with a chance of tariffs: the impact of policy uncertainty on the global economy

BankUnderground posted: " Ed Manuel, Alice Pugh, Anina Thiel, Tugrul Vehbi and Seb Vismara Average tariffs on goods traded between the US and China increased by 15 percentage points from early
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[New post] What is the relationship between a markets-based measure of leverage and banks’ funding costs?

BankUnderground posted: " Kieran Dent, Sinem Hacioglu Hoke and Apostolos Panagiotopoulos The Great Financial Crisis demonstrated an important feedback loop between banks' capitalisation and
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[New post] Do banks need belts and braces?

BankUnderground posted: " Marcus Buckmann, Paula Gallego Marquez, Mariana Gimpelewicz and Sujit Kapadia Bank failures are very costly for society. Following the 2007/2008 global financial crisis,
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[New post] Le Pont de Londres: monetary policy spillovers, prudential policies and the financial centre effect

BankUnderground posted: " Robert Hills, Simon Lloyd, Rhiannon Sowerbutts, Dennis Reinhardt, Matthieu Bussière, Baptiste Meunier and Justine Pedrono Large amounts of capital flow across borders.
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[New post] A fistful of dollars: transmission of global funding shocks to emerging markets

BankUnderground posted: " Aakriti Mathur and Shekhar Hari Kumar Emerging markets (EMs) have become more exposed to the global financial cycle in recent years. Positive liquidity shocks – that is,
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[New post] Covid-19 briefing: pandemics, natural disasters and banks’ balance sheets

BankUnderground posted: " Neeltje van Horen The Covid-19 (Covid) pandemic is a major shock to the economy but unlike traditional crises or credit crunches, its origin is exogenous to the financial
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[New post] How competitive are UK insurance markets?

BankUnderground posted: " Fraser Drew, David Humphry, Michael Straughan and Eleanor Watson For most of us buying insurance nowadays, price comparison websites offer plenty of choice. But how much
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[New post] How Britain paid for war: bond holders in the Great War 1914-32

BankUnderground posted: " Norma Cohen This post contributes to our occasional series of guest posts by external researchers who have used the Bank of England's archives for their work on
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[New post] Planes, boats and automobiles: a discussion of machine learning with telematics data

BankUnderground posted: " Ali Soliman Data plays a central role in all technical aspects of insurance and actuarial work. However, utilisation is often still confined to aggregate premium and
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[New post] How does international capital flow?

BankUnderground posted: " Michael Kumhof, Phurichai Rungcharoenkitkul and Andrej Sokol Understanding gross capital flows is crucial for both macroeconomic and financial stability policy. However,
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[New post] Our top 5 posts of 2020

BankUnderground posted: " Belinda Tracey As another year draws to an end and the blog prepares for some downtime over the festive period, we wanted to take a look back at the blog in 2020. We
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[New post] The Bank Underground Christmas Quiz

BankUnderground posted: " Before Bank Underground goes off on its Christmas holidays, it's time for the Annual Bank Underground Christmas Quiz! We hope you enjoy testing your knowledge on our
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[New post] 2020 hindsight: what can supervisors learn from the collapse of Barings Bank 25 years on?

BankUnderground posted: " Ben Dubow This year marks 25 years since the failure of Barings Bank. On Sunday 26 February 1995, the 200-year old merchant bank blew up thanks to derivatives trading,
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[New post] When bigger isn’t better: UK firms’ equity price performance during the Covid-19 pandemic

BankUnderground posted: " Tommaso Aquilante, David Bholat, Andreas Joseph, Riccardo M Masolo, Tim Munday and David van Dijcke Background Covid-19 (Covid) has had heterogeneous effects on different
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[New post] Separating deposit-taking from investment banking: new evidence on an old question

BankUnderground posted: " Matthieu Chavaz and David Elliott On 16 June 1933, as the nationwide banking crisis was reaching a new peak, freshly elected US President Franklin D. Roosevelt put his
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[New post] Covid-19 briefing: extensions to the SIR model

BankUnderground posted: " John Lewis The SIR model, first developed by Kermack and McKendrick (1927), remains the canonical epidemiological model. It a natural choice for economists seeking to