A servant of two masters

17 June 2021Bankscentral banks, corporate bonds, leverage ratios, SLR, TLACNick Dunbar

Caught between a wall of QE cash and a web of capital rules, what is left for bank CEOs to do? The evidence from securities holdings, bond issuance and TLAC.

How Covid-19 infected the corporate bond market

20 March 2020Creditairlines, central banks, coronavirus, Covid-19, high yield bondsNick Dunbar

The coronavirus outbreak has infected the corporate bond market as economies grind to a halt. Can trillions of emergency central bank measures keep borrowers alive?

Niedrigzinsangst

29 October 2014Insurancecentral banks, deflation, government bonds, insurance, interest rate risk, Stress testsNick Dunbar

Why can't the ECB bring itself to stress test banks for deflation? I was thinking about this question when I remembered an episode from the past. Just over ten years ago, I took a train from Frankfurt to the sleepy spa town of Wiesbaden. It was the sort of place where a lone taxi is…