Capital Markets Union in Europe with fully integrated capital markets across member countries can only work when the status of member country sovereign bonds as risk-free assets is restored. Banking Union and…
In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks, precipitating a run on their short-term debt. We assess the effectiveness of different…
Witnessing stock-market history in the making creates a vivid story, but does not provide valuable information. However, finance professionals extrapolate from personally witnessed returns, which we show by…
Since the start of the Banking Union in November 2014, European banks lost nearly half their market capitalization. Important risks in bank balance sheets are still unaccounted for requiring an even larger…
The European Banking Authority (EBA) disclosed the effect of losses in a stress test on bank capital ratios on 29 July 2016. We assess the capital adequacy of these banks based on these disclosures and using two…
In October 2014, the European Banking Authority (EBA) and the European Central Bank did a comprehensive assessment of the balance sheets of the largest 123 banks in the Eurozone. They calculated a capital…
