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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w10982 |
来源ID | Working Paper 10982 |
How do Banks Manage Liquidity Risk? Evidence from Equity and Deposit Markets in the Fall of 1998 | |
Philip E. Strahan; Evan Gatev; Til Schuermann | |
发表日期 | 2004-12-13 |
出版年 | 2004 |
语种 | 英语 |
摘要 | We report evidence from the equity market that unused loan commitments expose banks to systematic liquidity risk, especially during crises such as the one observed in the fall of 1998. We also find, however, that banks with higher levels of transactions deposits had lower risk during the 1998 crisis than other banks. These banks experienced large inflows of funds just as they were needed -- when liquidity demanded by firms taking down funds from commercial paper backup lines of credit peaked. Our evidence suggests that combining loan commitments with deposits mitigates liquidity risk, and that this deposit-lending synergy is especially powerful during period of crises as nervous investors move funds into their banks. |
主题 | Financial Economics ; Financial Markets ; Financial Institutions |
URL | https://www.nber.org/papers/w10982 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/568616 |
推荐引用方式 GB/T 7714 | Philip E. Strahan,Evan Gatev,Til Schuermann. How do Banks Manage Liquidity Risk? Evidence from Equity and Deposit Markets in the Fall of 1998. 2004. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w10982.pdf(230KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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