Liquidity standards and the value of an informed lender of last resort

Detalhes bibliográficos
Autor(a) principal: Santos, João A. C.
Data de Publicação: 2019
Outros Autores: Suarez, Javier
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/99393
Resumo: Funding agency: Spanish government (grant nr: ECO2011-26308 and ECO2014-59262)
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spelling Liquidity standards and the value of an informed lender of last resortBank runsLender of last resortLiquidity standardsAccountingFinanceEconomics and EconometricsStrategy and ManagementFunding agency: Spanish government (grant nr: ECO2011-26308 and ECO2014-59262)We consider a dynamic model in which receiving support from the lender of last resort (LLR) may help banks to weather investor runs. We show the need for regulatory liquidity standards when the underlying social trade-offs make the uninformed LLR inclined to support troubled banks during a run. Liquidity standards increase the time available before the LLR must decide on supporting the bank. This facilitates the arrival of information on the bank's financial condition and improves the efficiency of the decision taken by the LLR, a role that can be modified but not replaced with the use of capital regulation.NOVA School of Business and Economics (NOVA SBE)RUNSantos, João A. C.Suarez, Javier2022-03-23T01:31:16Z2019-05-012019-05-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/99393eng0304-405XPURE: 6523423https://doi.org/10.1016/j.jfineco.2018.10.013info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:46:16Zoai:run.unl.pt:10362/99393Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:39:09.635056Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Liquidity standards and the value of an informed lender of last resort
title Liquidity standards and the value of an informed lender of last resort
spellingShingle Liquidity standards and the value of an informed lender of last resort
Santos, João A. C.
Bank runs
Lender of last resort
Liquidity standards
Accounting
Finance
Economics and Econometrics
Strategy and Management
title_short Liquidity standards and the value of an informed lender of last resort
title_full Liquidity standards and the value of an informed lender of last resort
title_fullStr Liquidity standards and the value of an informed lender of last resort
title_full_unstemmed Liquidity standards and the value of an informed lender of last resort
title_sort Liquidity standards and the value of an informed lender of last resort
author Santos, João A. C.
author_facet Santos, João A. C.
Suarez, Javier
author_role author
author2 Suarez, Javier
author2_role author
dc.contributor.none.fl_str_mv NOVA School of Business and Economics (NOVA SBE)
RUN
dc.contributor.author.fl_str_mv Santos, João A. C.
Suarez, Javier
dc.subject.por.fl_str_mv Bank runs
Lender of last resort
Liquidity standards
Accounting
Finance
Economics and Econometrics
Strategy and Management
topic Bank runs
Lender of last resort
Liquidity standards
Accounting
Finance
Economics and Econometrics
Strategy and Management
description Funding agency: Spanish government (grant nr: ECO2011-26308 and ECO2014-59262)
publishDate 2019
dc.date.none.fl_str_mv 2019-05-01
2019-05-01T00:00:00Z
2022-03-23T01:31:16Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/99393
url http://hdl.handle.net/10362/99393
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0304-405X
PURE: 6523423
https://doi.org/10.1016/j.jfineco.2018.10.013
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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