too big to fail
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2021 ◽  
pp. 16-29
Author(s):  
S. Alexander Reed

This chapter explores the importance of magnitude as a theme in Laurie Anderson’s work, particularly Big Science. It begins by tracing histories of the titular phrase and then investigates the semiotics of bigness. Particularly with reference to individual identity, big systems, big edifices, and big collections of data all suggest superhuman states of consciousness. Accordingly, big knowledge systems such as linguistics, artificial intelligence, and the occult are all discussed. The chapter then reconciles their superhuman scale (and the attendant kinds of awareness it implies) with the paradoxical fact that such tokens of bigness are themselves human-made. Throughout, it draws connections between these notions and the album.


2021 ◽  
Vol 16 (4) ◽  
pp. 22-33
Author(s):  
T. Thanh Binh Nguyen

To verify if female directors on the bank’s board play a role in managing bank stability, this paper applies a multi-threshold model to quarterly data from 26 Taiwanese commercial banks over the 2002–2018 period to find the factors that influence bank financial stability and to examine how female board directorship affects it. The empirical results suggest that women on the board do play a guarding role in a bank’s financial soundness when banks reach a high debt ratio regime. The influence of female directors on the capital adequacy ratio is positive for banks with a debt ratio higher than 92.69%, and for non-performing loans it is positive within the regime of the debt ratio 90.71% ≤ τ < 95.39%.In particular, it has been found that the value of total assets is a factor that positively affects a bank’s financial soundness, which supports the “too big to fail” theory for banks with high total assets and debt ratios. Revenue has the opposite effect on financial soundness when it negatively affects the capital adequacy ratio and positively affects non-performing loans. A larger board size reduces banks’ financial soundness, which is contrary to the higher proportion of women on the board of directors, which generally contributes to the financial stability of the bank.


2021 ◽  
Vol 14 (9) ◽  
pp. 414
Author(s):  
Katerina Ivanov ◽  
James Schulte ◽  
Weidong Tian ◽  
Kevin Tseng

This paper develops and implements an equilibrium model of systemic risk. The model derives a systemic risk measure, loss beta, in characterizing all too-big-to-fail banks using a capital insurance equilibrium. By constructing each bank’s loss portfolio with a recent accounting approach, we perform a comprehensive empirical study of this loss beta measure and document all TBTF banks from 2002 to 2019. Our empirical findings suggest a significant number of too-big-to-fail banks in 2018–2019.


Author(s):  
Mario Bellia ◽  
Sara Maccaferri ◽  
Sebastian Schich

AbstractBanks considered too-big-to-fail (TBTF) tend to benefit from funding cost advantages as their debt is considered implicitly guaranteed by public authorities, even if the latter have undertaken substantial effort to limit TBTF. This paper focuses on the changes in related market perceptions in response to bank regulatory and resolution reform announcements as well as actual failure resolution actions. It analyses how premia on risky bank debt have reacted to such events, using data for senior and subordinated debt CDS quotes for 45 European banks from January 2007 to May 2020. The empirical results are consistent with progress being made in reducing the value of implicit bank debt guarantees, especially on subordinated bank liabilities. Some earlier bank failure resolution actions appeared to significantly raise risk premia, although more recent failure resolution cases either had no effect on risk premia or moved them in the opposite direction. Several of these events consisted of no-action, that is, in particular, they did not entail any bail-in. As opposed to resolution actions, the reactions of risk premia to policy and regulatory announcements are more difficult to explain and no clear pattern seems to be emerging, confirming the view that action speaks louder than words.


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