کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5100636 1478916 2017 34 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
How do global banks scramble for liquidity? Evidence from the asset-backed commercial paper freeze of 2007
ترجمه فارسی عنوان
بانک های جهانی برای نقدینگی چطورند؟ شواهد از انبار تجاری تحت حمایت دارایی سال 2007
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری استراتژی و مدیریت استراتژیک
چکیده انگلیسی
We investigate how banks scrambled for liquidity following the asset-backed commercial paper (ABCP) market freeze of August 2007 and its implications for corporate borrowing. Commercial banks in the United States raised dollar deposits and took advances from Federal Home Loan Banks (FHLBs), while foreign banks had limited access to such alternative dollar funding. Relative to before the ABCP freeze and relative to their non-dollar lending, foreign banks with ABCP exposure charged higher interest rates to corporations for dollar-denominated syndicated loans. The results point to a funding risk manifesting as currency shortages for banks engaged in maturity transformation in foreign countries.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Intermediation - Volume 30, April 2017, Pages 1-34
نویسندگان
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