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Bank Liquidity Creation and Financial Crises
This book informs bank executives, financial analysts, researchers (including academics and students), and policy makers (including legislators, regulators, and central bankers), about bank liquidity creation, financial crises, and the links between the two.
Allen N. Berger (Author), Christa Bouwman (Author)
9780128002339, Elsevier Science
Hardback, published 17 November 2015
294 pages
22.9 x 15.1 x 2.3 cm, 0.61 kg
"A key economic function of banks is to create liquidity in the economy, financing illiquid assets with liquid labilities and enhancing overall funding of investment projects in the economy. Knowing how to measure how much liquidity is being created at any point in time is of central importance for economists, policymakers and bankers. This book, based on the path-breaking empirical measure for bank liquidity creation developed by the authors in their earlier published research, provides an exhaustive and enlightening discussion of the variety of interesting issues related to bank liquidity creation, including its implications for bank stability and regulation. A must read!" --Anjan Thakor, Washington University in St. Louis "This text provides an excellent insight into the features of banks and the dynamics of financial intermediation. The authors provide terrific coverage of the liquidity creation process and how financial crises inhibit such activity. This is an essential guide for all students of banking and financial system behavior." --Philip Molyneux, Bangor University
Bank Liquidity Creation and Financial Crises delivers a consistent, logical presentation of bank liquidity creation and addresses questions of research and policy interest that can be easily understood by readers with no advanced or specialized industry knowledge. Authors Allen Berger and Christa Bouwman examine ways to measure bank liquidity creation, how much liquidity banks create in different countries, the effects of monetary policy (including interest rate policy, lender of last resort, and quantitative easing), the effects of capital, the effects of regulatory interventions, the effects of bailouts, and much more. They also analyze bank liquidity creation in the US over the past three decades during both normal times and financial crises. Narrowing the gap between the "academic world" (focused on theories) and the "practitioner world" (dedicated to solving real-world problems), this book is a helpful new tool for evaluating a bank’s performance over time and comparing it to its peer group.
PART I – INTRODUCTORY MATERIALS 1. Introduction 2. Liquidity Creation Theories 3. Understanding Financial Statements PART II – LIQUIDITY CREATION MEASUREMENT AND USES 4. Measurement of Bank Liquidity Creation 5. Using Liquidity Creation to Measure Bank Output 6. Using Liquidity Creation to Measure Bank Liquidity Part III – FINANCIAL CRISES, LIQUIDITY CREATION, AND THEIR LINKS 7. Defining and Dating Financial Crises 8. How Much Liquidity Do Banks Create During Normal Times and Financial Crises? 9. The Links between Bank Liquidity Creation and Future Financial Crises PART IV – CAUSES AND CONSEQUENCES OF LIQUIDITY CREATION 10. Do Better-Capitalized Banks Create More or Less Liquidity? 11. Which Banks Create the Most and Least Liquidity? 12. How do Government Policies and Actions affect Bank Liquidity Creation during Normal Times and Financial Crises? 13. Bank Liquidity Creation: Value, Performance, and Persistence Part V – LOOKING TOWARD THE FUTURE 14. How Can Bank Executives, Financial Analysts, Researchers, and Policy Makers (Including Legislators, Regulators, and Central Bankers) Use Bank Liquidity Creation Data to Their Advantages? 15. Where We Now Stand and the Open Research and Policy Questions 16. Links to Websites Containing Data, Documents, and Other Information Useful for U.S. Bank Performance Benchmarking, Research, and Policy Work References
Subject Areas: Banking [KFFK]
