How do banks manage liquidity risk?: evidence from equity and deposit markets in the fall of 1998
"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...
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| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2004
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
10982 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | "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"--National Bureau of Economic Research web site. |
| Physical Description: | 32 S. graph. Darst. |
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| id | DE-604.BV023591090 |
| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:27Z |
| indexdate | 2024-07-09T21:25:10Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016906420 |
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| physical | 32 S. graph. Darst. |
| publishDate | 2004 |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Strahan, Philip E. 1963- Verfasser (DE-588)124747779 aut How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 Philip E. Strahan ; Evan Gatev ; Til Schuermann Cambridge, Mass. National Bureau of Economic Research 2004 32 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 10982 "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"--National Bureau of Economic Research web site. Ökonometrisches Modell Liquidity (Economics) Econometric models Gatev, Evan G. Verfasser (DE-588)128781386 aut Schuermann, Til Verfasser (DE-588)115296913 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 10982 (DE-604)BV002801238 10982 http://papers.nber.org/papers/w10982.pdf kostenfrei Volltext |
| spellingShingle | Strahan, Philip E. 1963- Gatev, Evan G. Schuermann, Til How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Ökonometrisches Modell Liquidity (Economics) Econometric models |
| title | How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 |
| title_auth | How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 |
| title_exact_search | How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 |
| title_exact_search_txtP | How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 |
| title_full | How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 Philip E. Strahan ; Evan Gatev ; Til Schuermann |
| title_fullStr | How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 Philip E. Strahan ; Evan Gatev ; Til Schuermann |
| title_full_unstemmed | How do banks manage liquidity risk? evidence from equity and deposit markets in the fall of 1998 Philip E. Strahan ; Evan Gatev ; Til Schuermann |
| title_short | How do banks manage liquidity risk? |
| title_sort | how do banks manage liquidity risk evidence from equity and deposit markets in the fall of 1998 |
| title_sub | evidence from equity and deposit markets in the fall of 1998 |
| topic | Ökonometrisches Modell Liquidity (Economics) Econometric models |
| topic_facet | Ökonometrisches Modell Liquidity (Economics) Econometric models |
| url | http://papers.nber.org/papers/w10982.pdf |
| volume_link | (DE-604)BV002801238 |
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