|A Capital Market Union for Europe|
Author/Editor: Ashok Vir Bhatia, Srobona Mitra, Anke Weber, Shekhar Aiyar, Luiza Antoun de Almeida, Cristina Cuervo, Andre O Santos, Tryggvi Gudmundsson.
Release Date:September, 2019
This note weighs the merits of a capital market union (CMU) for Europe, identifies major obstacles in its path, and recommends a set of carefully targeted policy actions. European capital markets are more...
|Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks?|
Author/Editor: Andre O Santos.
Release Date:May, 2019
This paper analyzes the capital structure of private asset managers in which the acquisition of nonperforming loans (NPLs) is funded with Contingent Convertibles (CoCos) placed with investors. The more...
|The Impact of Oil Prices on the Banking System in the GCC|
Author/Editor: Padamja Khandelwal, Ken Miyajima, Andre O Santos.
Release Date:August, 2016
This paper examines the links between global oil price movements and macroeconomic and financial developments in the GCC. Using a range of multivariate panel approaches, including a panel vector more...
|Integrated Ownership and Control in the GCC Corporate Sector|
Author/Editor: Andre Santos.
Release Date:August, 2015
The objective of the paper is to assess ownership and control links in the GCC corporate sector. The analysis focuses on the integrated ownership and network arising from ownership data available in more...
|Evaluating the Net Benefits of Macroprudential Policy: A Cookbook|
Author/Editor: Nicolas Arregui, Jaromir Benes, Ivo Krznar, Srobona Mitra, Andre Santos.
Release Date:July, 2013
The paper proposes a simple, new, analytical framework for assessing the cost and benefits of macroprudential policies. It proposes a measure of net benefits in terms of parameters that can be more...
|Assessing the Cost of Financial Regulation|
Author/Editor: Douglas Elliott, Andre Santos.
Release Date:September, 2012
This study assesses the overall impact on credit of the financial regulatory reforms in Europe, Japan, and the United States. Long-term cost estimates are provided for Basel III capital and liquidity more...
|Estimating the Costs of Financial Regulation|
Author/Editor: Andre Santos, Douglas Elliott.
Release Date:September, 2012
To assess the overall impact of the financial regulatory initiatives on U.S., European, and Japanese financial institutions and their respective economies. It will examine the existing analyses on more...
|Next Generation System-Wide Liquidity Stress Testing|
Author/Editor: Christian Schmieder, Heiko Hesse, Benjamin Neudorfer, Claus Puhr, Stefan W. Schmitz.
Release Date:January, 2012
A framework to run system-wide, balance sheet data-based liquidity stress tests is presented. The liquidity framework includes three elements: (a) a module to simulate the impact of bank run more...
|Subsidiaries or Branches : Does One Size Fit All?|
Author/Editor: Jonathan Fiechter, Inci Ötker, Anna Ilyina, Michael Hsu, Andre O Santos, Jay Surti.
Release Date:March, 2011
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are more...
|Public Debt Sustainability and Management in a Compound Option Framework|
Author/Editor: Jorge A Chan-Lau, Andre Santos.
Release Date:January, 2010
This paper introduces the Asset and Liability Management (ALM) compound option model. The model builds on the observation that the public sector net worth in a multi-period setting corresponds to the more...