Opciones de búsqueda
Home Medios El BCE explicado Estudios y publicaciones Estadísticas Política monetaria El euro Pagos y mercados Empleo
Sugerencias
Ordenar por
No disponible en español

Adonis Antoniades

8 April 2015
WORKING PAPER SERIES - No. 1779
Details
Abstract
The primary driver of commercial bank failures during the Great Recession was exposure to the real estate sector, not aggregate funding strains. The main \toxic" exposure was credit to non-household real estate borrowers, not traditional home mortgages or agency-issued MBS. Private-label MBS contributed to the failure of large banks only. Failed banks skewed their portfolios towards product categories that performed poorly on aggregate, and within each category invested in assets of lower quality than survivor banks did. They expanded more rapidly into real estate during the pre-crisis period, but rapid growth alone cannot explain differences in asset performance.
JEL Code
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G28 : Financial Economics→Financial Institutions and Services→Government Policy and Regulation
Network
Macroprudential Research Network

Nuestro sitio web utiliza cookies

Utilizamos cookies funcionales para almacenar las preferencias de los usuarios, cookies analíticas para mejorar el rendimiento del sitio web y cookies de terceros creadas por servicios de terceros integrados en el sitio web. Tiene la opción de aceptarlas o rechazarlas. Para más información o para modificar sus preferencias sobre las cookies y los registros de los servidores que utilizamos, puede consultar: