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来源类型Working Paper
规范类型报告
DOI10.3386/w10982
来源IDWorking 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
URLhttps://www.nber.org/papers/w10982
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/568616
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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.
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