The pricing of carbon risk in syndicated loans: which risks are priced and why?
Do banks price the risks of climate policy change? Combining syndicated loan data with carbon intensity data (CO2 emissions relative to revenue) of borrowers across a wide range of industries, we find a significant “carbon premium” since the Paris Agreement. The loan risk premium related to CO2 emission intensity is apparent across industries and broader than that due simply to “stranded assets” in fossil fuel or other carbon-intensive industries. …
Measuring price selection in microdata: it's not there
European Central Bank Working Papers by Peter Karadi, Raphael Schoenle and Jesse Wursten
Monetary Policy, Trends in Real Interest Rates and Depressed Demand
Bank of Canada Working Papers by Paul Beaudry and Césaire Meh
Consumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation
Bank of Canada Working Papers by Heng Chen, Matthew Strathearn and Marcel Voia
A New Measure of Monetary Policy Shocks
Bank of Canada Working Papers by Xu Zhang
Bank Runs, Bank Competition and Opacity
Bank of Canada Working Papers by Toni Ahnert and David Martinez-Miera
US monetary policy and the financial channel of the exchange rate: evidence from India
The effect of US monetary policy on EMEs is one of the fiercely debated issues in international finance. We contribute to this debate using micro- and macro-level analyses from India over the period 2004-2019. Using a dynamic panel estimation model of non-financial firms, we show that US monetary tightening adversely affects firms’ net worth and reduces domestic credit relative to external credit…
Cyber resilience practices – Executive Summary
Cyber resilience practices – Executive Summary
Climate and environmental risks – guide for supervisors – Executive Summary
Climate and environmental risks – guide for supervisors – FSI Executive Summary
Whom do consumers trust with their data? US survey evidence
* In a recent survey, US households say they are more likely to trust traditional financial institutions than government agencies or fintechs to safeguard their personal data. They have far less trust in big techs. * This pattern differs across demographic groups: respondents from racial minorities have less trust in financial institutions, while younger respondents trust fintechs relatively more. Female, minority and younger respondents are more concerned about implications of data-sharing for their personal safety. * A quarter of respondents say Covid-19 made them less willing to share data. In this group, nearly half became less willing to share with big techs. Concerns centred on identity theft and abuse of data. * As the economy becomes increasingly digital, and new players expand further into financial services, strong data protection policies will become more important to shield consumers from these harms.