During recent decades, the global financial system has become more digitalised and interconnected. For its functioning, the real economy requires the financial system to perform a range of key economic functions reliably. These include payment services, securities trading, settlement services an...
We analyze securities trading by banks during the crisis and the associated spillovers to the supply of credit. We use a proprietary dataset that has the investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. We find that – during the crisi...
Le présent numéro des cahiers BEI est constitué d'un seul article consacré à l'évolution des marchés internationaux de capitaux en 1986. Ce sujet fortement d'actualité est analysé en détail par les auteurs. La tendance des taux d'intérêt réels, les techniques de "swaps", la maturité et le prix d...
