Arbeitspapier
Drivers of systemic risk: Do national and European perspectives differ?
In Europe, the financial stability mandate generally rests at the national level. But there is an important exception. Since the establishment of the Banking Union in 2014, the European Central Bank (ECB) can impose stricter regulations than the national regulator. The precondition is that the ECB identifies systemic risks which are not adequately addressed by the macroprudential regulator at the national level. In this paper, we ask whether the drivers of systemic risk differ when applying a national versus a European perspective. We use market data for 80 listed euro-area banks to measure each bank's contribution to systemic risk (SRISK) at the national and the euro-area level. Our research delivers three main findings. First, on average, systemic risk increased during the financial crisis. The difference between systemic risk at the national and the euro-area level is not very large, but there is considerable heterogeneity across countries and banks. Second, an exploration of the drivers of systemic risk shows that a bank's contribution to systemic risk is positively related to its size and profitability. It decreases in a bank's share of loans to total assets. Third, the qualitative determinants of systemic risk are similar at the national and euro-area level, whereas the quantitative importance of some determinants differs.
- ISBN
-
978-3-95729-355-8
- Sprache
-
Englisch
- Erschienen in
-
Series: Bundesbank Discussion Paper ; No. 09/2017
- Klassifikation
-
Wirtschaft
Financial Crises
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Institutions and Services: Government Policy and Regulation
- Thema
-
systemic risk
bank regulation
Banking Union
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Buch, Claudia M.
Krause, Thomas
Tonzer, Lena
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsche Bundesbank
- (wo)
-
Frankfurt a. M.
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Buch, Claudia M.
- Krause, Thomas
- Tonzer, Lena
- Deutsche Bundesbank
Entstanden
- 2017
Ähnliche Objekte (12)
Drivers of Systemic Risk: Do National and European Perspectives Differ?
International banking and liquidity risk transmission: Lessons from across countries
Business cycles and FDI: evidence from German sectoral data
Volatile multinationals? Evidence from the labor demand of German firms
Banking market structure and macroeconomic stability: Are low-income countries special?
Short-Term Capital, Economic Transformation, and EU Accession
FDI versus cross-border financial services: The globalisation of German banks
Cross-border prudential policy spillovers: How much? How important? Evidence from the international banking research network
Clustering or competition? The foreign investment behaviour of German banks
Macroeconomic factors and micro-level bank risk
Margins of international banking: is there a productivity pecking order in banking, too?
Too-big-to-fail and funding costs: A repository of research studies
Drivers of Systemic Risk: Do National and European Perspectives Differ?
International banking and liquidity risk transmission: Lessons from across countries
Business cycles and FDI: evidence from German sectoral data
Volatile multinationals? Evidence from the labor demand of German firms
Banking market structure and macroeconomic stability: Are low-income countries special?
Short-Term Capital, Economic Transformation, and EU Accession
FDI versus cross-border financial services: The globalisation of German banks
Cross-border prudential policy spillovers: How much? How important? Evidence from the international banking research network
Clustering or competition? The foreign investment behaviour of German banks
Macroeconomic factors and micro-level bank risk
Margins of international banking: is there a productivity pecking order in banking, too?
Too-big-to-fail and funding costs: A repository of research studies
Drivers of Systemic Risk: Do National and European Perspectives Differ?
International banking and liquidity risk transmission: Lessons from across countries
Business cycles and FDI: evidence from German sectoral data
Volatile multinationals? Evidence from the labor demand of German firms
Banking market structure and macroeconomic stability: Are low-income countries special?
Short-Term Capital, Economic Transformation, and EU Accession
FDI versus cross-border financial services: The globalisation of German banks
Cross-border prudential policy spillovers: How much? How important? Evidence from the international banking research network
Clustering or competition? The foreign investment behaviour of German banks
Macroeconomic factors and micro-level bank risk
Margins of international banking: is there a productivity pecking order in banking, too?