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The negative feedback loop between banks and sovereigns

Paolo Angelini (), Giuseppe Grande and Fabio Panetta ()
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Fabio Panetta: Banca d'Italia

No 213, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: More than three years since the outbreak of the sovereign debt crisis in the euro area the banking systems of several countries remain exposed to the vagaries of government bond markets. The paper analyzes the different channels through which sovereign risk affects banking risk (and vice versa), presents some new evidence on bank-sovereign links, and discusses policy options for addressing the related risks.

Keywords: sovereign risk; sovereign debt crisis; global financial crisis; banking sector risk; bank regulation; contagion; credit crunch (search for similar items in EconPapers)
JEL-codes: E44 E51 E58 G01 G21 G28 H63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban, nep-cba, nep-eec, nep-fmk, nep-mac and nep-sog
Date: 2014-01
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