Sovereign exposures in the Portuguese banking system: evidence from an original dataset

Maria Campos and Ana Rita Mateus
Authors registered in the RePEc Author Service: Álvaro M. Pina

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: We present an original dataset on exposures of banks operating in Portugal to the domestic public sector, and document the main dynamics of those exposures against the broader backdrop of public sector indebtedness and financing needs. Built from granular information, our dataset takes account of both bond holdings and loans, and ensures comprehensive coverage of both the banking system and public sector entities, either classified inside or outside general government. Domestic banks, unlike those mostly owned by foreigners, played a key role in financing public sector entities in the most acute stages of the sovereign debt crisis, when access to international capital markets was virtually lost. We present evidence of this role in the cases of the Treasury and of state-owned enterprises.

JEL-codes: G01 G21 H63 L32 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.bportugal.pt/sites/default/files/anexos/papers/op201903.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ptu:wpaper:o201903

Access Statistics for this paper

More papers in Working Papers from Banco de Portugal, Economics and Research Department Contact information at EDIRC.
Bibliographic data for series maintained by DEE-NTD ().