Browsing by Subject "korkomarginaalit"

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  • Choi, Sungho; Francis, Bill B.; Hasan, Iftekhar (2010)
    Bank of Finland Research Discussion Papers 4/2010
    The impact of cross-border bank M&As on bank risk remains an open question. Though geographically diversifying bank M&As have the potential to reduce the risk of bank insolvency, they also have the potential to increase that risk due to the increase in risk-taking incentives for bank managers and stockholders following these transactions. This paper empirically investigates whether cross-border bank M&As increase or decrease the risk of acquiring banks as captured by changes in acquirers yield spreads. The paper also investigates how differences in the institutional environments between bidder and target countries affect changes in yield spreads following M&A announcements. The study finds that bondholders, in general, perceive cross-border bank M&As as risk-increasing activities, unlike domestic bank mergers. Specifically, on average, yield spreads increase by 4.13 basis points following the announcement of cross-border M&As. This study also finds that these yield spreads are significantly affected by the differences in investor-protection and deposit-insurance environments between the transacting countries. However, the study does not find that the regulatory and supervisory environment in the home countries of the transacting parties significantly affects the changes in yield spreads. The overall evidence suggests that regulators should judge the relative environment in both the home and the host countries in evaluating the associated risks of an active multinational financial institution and in setting the sufficiency of the banks reserve positions.
  • Fungáčová, Zuzana; Poghosyan, Tigran (2009)
    BOFIT Discussion Papers 22/2009
    Published in Economic Systems 35 (2011) pp. 481-495.
    This paper analyzes interest margin determinants in the Russian banking sector with a particular emphasis on the bank ownership structure. Using a unique bank-level data covering Russia's entire banking sector for the 1999-2007 period, we find that the impact of a number of commonly used determinants such as market structure, credit risk, liquidity risk and size of operations differs across state-controlled, domestic-private and foreign-owned banks. At the same time, the influence of operational costs and bank risk aversion is homogeneous across ownership groups. The results overall suggest the form of bank ownership needs to be considered when analyzing interest margin determinants. JEL classification: G21, P34 Keywords: bank interest margins, financial intermediation, Russia
  • Freystätter, Hanna (2010)
    Bank of Finland Research Discussion Papers 5/2010
    This paper studies financial market disturbances as sources of investment fluctuations in Finland during 1995 2008. We construct a DSGE model of the Finnish economy that incorporates two domestic financial market shocks and financial frictions in the form of a BGG financial accelerator. We investigate empirically the importance of financial market frictions and disturbances by estimating the model using a Bayesian Maximum Likelihood approach. The empirical evidence points to an operative financial accelerator mechanism in Finland. Our key result is that disturbances originating in the financial sector have played a significant role in the historical variation of investment activities in Finland. Even allowing for several shocks stemming from both domestic sources and the international economy, domestic financial market shocks emerge as key drivers of recent business cycle fluctuations in Finland
  • Vauhkonen, Jukka; Putkuri, Hanna; Haajanen, Jyrki (2015)
    Euro & talous 2/2015
    Pankkien vakavaraisuusvaatimusten näköpiirissä oleva kiristyminen kasvattaa vain vähän pankkien kustannuksia ja sitä kautta pankkilainojen marginaaleja. Kolikon toinen puoli on se, että Finanssivalvonnan tärkein keino torjua luotonannon liiallisesta kasvusta aiheutuvia vakausuhkia – muuttuva lisäpääomavaatimus – voi olla toivottua tehottomampi makrovakausväline. Asuntolainojen vähimmäisriskipainojen säätely on todennäköisesti tehokkaampi keino hillitä asuntoluotonannon liiallista kasvua.
  • Haajanen, Jyrki; Putkuri, Hanna; Vauhkonen, Jukka (2015)
    Bank of Finland. Bulletin 2/2015
    The foreseeable tightening of bank capital requirements will only marginally add to bank costs and, by extension, to loan margins. The other side of the coin is that the most important tool at the disposal of the Financial Supervisory Authority for preventing threats to stability from excessive credit growth – the countercyclical capital buffer requirement – may turn out to be a more ineffective macroprudential instrument than hoped for. Regulation of minimum risk weights for housing loans is likely to be a more effective tool for reining in excessive growth in lending for house purchase.