Greg Caldwell

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What To Do about Bilateral Credit Limits in the LVTS When a Closure Is Anticipated: Risk versus Liquidity Sharing among LVTS Participants

Staff Discussion Paper 2008-13 Sean O'Connor, Greg Caldwell
The authors examine the effect of a trade-off between shared credit risk and liquidity efficiency, among participants in Tranche 2 of the Large Value Transfer System (LVTS T2), on their decisions to leave open, or close, their bilateral credit limits (BCLs) to a participant at risk of imminent closure.

Best Instruments for Market Discipline in Banking

Staff Working Paper 2007-9 Greg Caldwell
The author develops a dynamic model of banking competition to determine which capital instrument is most effective in disciplining banks' risk choice. Comparisons are conducted between equity, subordinated debentures (SD), and uninsured deposits (UD) as funding sources.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial Institutions JEL Code(s): G, G2, G21, G28

Subordinated Debt and Market Discipline in Canada

Staff Working Paper 2005-40 Greg Caldwell
The author documents the use by Canadian banks of subordinated debt (SD) as a capital instrument.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial Institutions JEL Code(s): G, G2, G21, G28

An Analysis of Closure Policy under Alternative Regulatory Structures

Staff Working Paper 2005-11 Greg Caldwell
The author develops a theoretical model of bank closure. The regulatory decision about bank failure consists of two parts: whether to close and how to close.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial Institutions JEL Code(s): G, G2, G21, G28

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