Has the new bail-in framework increased the yield spread between subordinated and senior bonds?
Author:
Affiliation:
1. European Central Bank, DGE, Frankfurt am Main, Germany
Publisher
Informa UK Limited
Subject
Economics, Econometrics and Finance (miscellaneous)
Link
https://www.tandfonline.com/doi/pdf/10.1080/1351847X.2020.1776353
Reference19 articles.
1. Acharya, V. V., D. Anginer, and A. J Warburton. 2016. “The End of Market Discipline? Investor Expectations of Implicit Government Guarantees.” Working paper, NYU.
2. Can Bank Supervisors Rely on Market Data? A Critical Assessment from a Swiss Perspective
3. Chan-Lau, J. A., and H. Oura. 2016. “Bail-In Power, Depositor Preference, and Asset Encumbrance: The End of Cheap Senior Unsecured Debt? A Structural Pricing Perspective. A Structural Pricing Perspective.” Working paper. https://www.ssrn.com.
4. Bail‐in rules and the pricing of Italian bank bonds
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