Search results for " lending."

Innovazione finanziaria e instabilità: il trasferimento del rischio di credito

2011

This paper aims to point out the role of credit risk transfer market in the financial system. The advent of a credit risk market has profoundly altered the role of banking firms into one of asset originator and asset distributor rather than the asset holder. The traditional economics of banking has changed in an important way and the new business model has evolved as a result of financial innovation. The main results of the paper are that the lending process disintegration and the development of the credit risk transfer market represent a key element in the recent financial risis. Incentive structures faced by various agents in the financial intermediation chain also became dysfunctional. B…

Limiti e criticità nell’intermediazione creditizia.

2011

THE LENDING ARRANGEMENTS OF THE IMF IN EUROPEAN UNION IN TIMES OF CRISIS – CHARACTERISTICS AND EVOLUTIONS

2014

This paper focuses on the lending arrangements of the IMF in EU countries during crisis period. First, we reviewed the literature regarding IMF-supported programs in times of crisis. On the other hand, we provided a description of the IMF arrangements in EU countries in 2008-2013. We found that these programs differ in type, duration, amount and conditionality, but not significantly in their key objectives (achieving sustainable public finances and ensuring financial sector stability).

Information providers e information sharing mechanisms nel mercato creditizio italiano.

2015

Il presente lavoro esamina i principali casi aziendali di information providers e sistemi di information sharing operanti nel mercato creditizio italiano, con una prospettiva di analisi prettamente economico-aziendale. Sono analizzati i modelli di business dei primi 5 operatori italiani: Cerved, Crif, Infocamere, Experian, Euler Hermes Siac. Sarà, inoltre, preso in esame il sistema di condivisione di informazioni di natura pubblica, gestito dalla Banca d’Italia, che ha un ruolo di rilievo nel sistema creditizio italiano. Quello che emerge dall’analisi è un quadro molto variegato dei sistemi di informazione creditizia operanti in Italia in quanto, accanto al tradizionale business dell’inform…

Quantifying preferential trading in the e-MID interbank market

2015

Interbank markets allow credit institutions to exchange capital for purposes of liquidity management. These markets are among the most liquid markets in the financial system. However, liquidity of interbank markets dropped during the 2007-2008 financial crisis, and such a lack of liquidity influenced the entire economic system. In this paper, we analyze transaction data from the e-MID market which is the only electronic interbank market in the Euro Area and US, over a period of eleven years (1999-2009). We adapt a method developed to detect statistically validated links in a network, in order to reveal preferential trading in a directed network. Preferential trading between banks is detecte…

Financial Fragmentation and Economic Growth in Europe

2015

Using industry data from Eurostat and applying the Rajan-Zingales methodology, we investigate the real growth effects of banking sector integration in the European Union. Our sample stretches from 2000 until 2012 and includes the phase of rapid financial integration before the global financial crisis as well as the following phase of financial fragmentation and bank deleveraging. We find evidence that banking sector integration had a more than four times stronger growth effect during the crisis than in normal times. Growth effects are also stronger in times of domestic bank deleveraging. We conclude that concerns of European policy makers about fragmentation in the European banking sector a…

Savstarpējo aizdevumu (peer-to-peer lending) platformu darbības regulējuma problemātika Latvijā.

2021

Finanšu tehnoloģiju straujā attīstība radījusi bezprecedenta situāciju, kurā ieguldījumi finanšu instrumentos pieejami ikvienam – nepieciešama vien pieeja internetam un nedaudz naudas. Līdzīgi lielai daļai Eiropas valstu Latvija uz jaunā koncepta finanšu pakalpojumiem nav spējusi reaģēt operatīvi - Latvijas jurisdikcijā pēdējo piecu gadu laikā reģistrēts liels skaits kolektīvās finansēšanas platformu, kas bez atbilstošas licences interesentiem sniedz ieguldījumu pakalpojumus. Analizējot spēkā esošos normatīvos aktus un pētot Latvijas savstarpējo aizdevumu platformu tirgu, autore raksturo neviennozīmīgos savstarpējo aizdevumu platformu darbības juridiskos aspektus, kā arī skaidro, salīdzina …

Profili teorici ed evidenze empiriche del rapporto banca-impresa. Un’indagine sul territorio.

2016

The book offers a theoretical and empirical investigation of the bank-firm relationships in Italy, particularly the small-medium firms. It aims to examine the institutional, organizational and strategic differences between a transaction-based lending approach and a relationship-based lending approach. The study on the field is based on quantitative and qualitative data that have been gathered through a questionnaire. The book provides a survey data collection to offer a more complete and in-depth analysis of the bank-firm relationship during the financial crisis. Finally, the book discusses the results and the implications of the study.

Strategic quantitative easing: Stimulating investment to rebalance the economy

2013

The Bank of England’s programmes of Quantitative Easing (QE) and Funding for Lending (FLS) are failing to stimulate GDP and rebalance the economy. Both policies falsely assume that the UK’s risk-averse capital markets, corporate sector and constrained banking system can be nudged into supporting the productive economy. We propose a new approach: one that channels investment directly into new housing, infrastructure and SME lending, boosting productivity and exports. QE must become less scattergun and more strategic, with reformed governance structures to match.