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  1. The ECB’s transmission protection instrument
    a legal & economic analysis : study requested by the ECON committee
    Author: Bernoth, Kerstin; Dietz, Sara; Ider, Gökhan; Lastra, Rosa M.
    Published: September 2022
    Publisher:  European Parliament, Luxembourg

    With the rise in interest rates and the phasing out of ECB's asset purchase programmes, highly indebted countries such as Italy and Greece are facing a sharper rise in their bond yields than Germany - a development often referred to as `bond market... more

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Bundesverfassungsgericht, Bibliothek
    Signature:
    Online-Ressource
    Inter-library loan:
    No inter-library loan

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

     

    With the rise in interest rates and the phasing out of ECB's asset purchase programmes, highly indebted countries such as Italy and Greece are facing a sharper rise in their bond yields than Germany - a development often referred to as `bond market fragmentation'. In response, the Governing Council of the European Central Bank announced the Transmission Protection Instrument on 21 July 2022. This paper provides a legal and economic examination of this new monetary policy instrument. It is compared with other non-conventional instruments in the context of the Treaty framework and the doctrine of the European Court of Justice.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789284697410
    Other identifier:
    Series: Monetary dialogue papers ; September 2022
    Subjects: economic analysis; interest; public debt; bond; Court of Justice of the European Union; legal basis; financial risk; monetary policy; European Central Bank; risk management; EU financial instrument; Treaty on the Functioning of the EU
    Scope: 1 Online-Ressource (36 Seiten), Diagramme
    Notes:

    Manuscript completed: September 2022
  2. Evolution of Debt Financing Toward Less Regulated Financial Intermediaries
    Author: Erel, Isil; Inozemtsev, Eduard
    Published: [2022]
    Publisher:  SSRN, [S.l.]

    Nonbank lenders have been playing an increasingly important role in the supply of debt financing, especially post Great Recession. These nonbank financial institutions not only participate in syndicated loans to large businesses but also act as... more

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

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

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

     

    Nonbank lenders have been playing an increasingly important role in the supply of debt financing, especially post Great Recession. These nonbank financial institutions not only participate in syndicated loans to large businesses but also act as direct lenders to small and mid-sized businesses, providing loans previously were primarily supplied by banks. Moreover, the composition of bondholders has changed, with mutual funds and other less regulated entities having gained nontrivial market shares. What is the extent of nonbank lending? How important are the distortions associated with the varying degrees of regulatory oversight for banks that differentially limit risk-taking across alternative sources of credit? What are the financial stability implications of this transformed landscape of credit markets? This selective review addresses these important questions and also discusses how banks and nonbanks helped provide liquidity to the nonfinancial sector during the COVID-19 pandemic shock

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Fisher College of Business Working Paper ; No. 2022-03-004, 2022
    Subjects: Nonbank; fintech; bank regulation; loan; bond
    Scope: 1 Online-Ressource (72 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 6, 2022 erstellt
  3. Responses of Swiss bond yields and stock prices to ECB policy surprises
    Author: Hager, Diego M.; Nitschka, Thomas
    Published: [2022]
    Publisher:  Swiss National Bank, Zurich

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 555
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: SNB working papers ; 2022, 8
    Subjects: bond; event study; international spillovers; monetary policy; stock
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen