| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9162 |
| DP9162 Liquidity Coinsurance and Bank Capital | |
| Gyöngyi Lóránth | |
| 发表日期 | 2012-10-07 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Banks can deal with their liquidity risk by holding liquid assets (self-insurance), by participating in the interbank market (coinsurance), or by using flexible financing instruments, such as bank capital (risk-sharing). We study how the access to an interbank market affects banks' incentive to hold capital. A general insight is that from a risk-sharing perspective it is optimal to postpone payouts to capital investors when a bank is hit by a liquidity shock that it cannot coinsure on the interbank market. This mechanism produces a negative relationship between interbank activity and bank capital. We provide empirical support for this prediction in a large sample of U.S. commercial banks, as well as in a sample of European and Japanese commercial banks. |
| 主题 | Financial Economics |
| 关键词 | Liquidity coinsurance. Bank capital Interbank markets |
| URL | https://cepr.org/publications/dp9162 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537997 |
| 推荐引用方式 GB/T 7714 | Gyöngyi Lóránth. DP9162 Liquidity Coinsurance and Bank Capital. 2012. |
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