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NO. 336ˣڲ

——The Risk of Implicit Guarantees-Evidence from Shadow Banks in China

༭admin ʱ䣺20200618 ʴ:1062

 

 ĿThe Risk of Implicit Guarantees - Evidence from Shadow Banks in China

ˣڲ  Ĵѧڣ

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zoom߻ ID612 8860 2385

ʱ䣺2020618    9:30-11:00

 

ʱԼעΪ-ѧУ

 

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The shadow banking literature is anchored on the premise that shadow banking intensifies financial risks through its connection with regular banks. We document the importance of implicit guarantees as the risk transmission channel using a detailed micro-level data set on wealth management products, which are the most prominent shadow banking products in China. We find that when the risk perception of a bank increases, the bank extends stronger implicit guarantees to the investors of wealth management products to safeguard its reputation. Stronger guarantees incur more expenses, thus amplifying impacts of negative shocks to the related regular banks. The expenses account for a significant reduction in bank profits. Our results suggest a higher risk-weight for off-balance-sheet exposures for riskier banks.

 

 

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ڲ˹ٴѧѧʿĴѧڣѧڡоΪ˾ںͺ۽ڣȲڽĦĶʵ徭õӰ졣

 

 

CRPE
2020-6-12

 


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