We analyze the credit supply and real effects of bank bail-ins by exploiting the unexpected
failure and subsequent resolution of a major Portuguese bank. Using loan-level data, we …

The establishment of the Financial Stability Board (FSB) in April 2009 by the Group of 20
(G20) leaders legitimized the South African Reserve Bank's (SARB) role to incorporate a …

Financial regulation has introduced bail-ins (ie enforced debt-to-equity swaps) as a tool for
orderly bank resolution, and hence it is the authorities' task to decide when to apply this tool …

South Africa's private consumption stagnated in the last decade amid weakening social
indicators. On the back of strong economic growth, per-capita real private consumption …

Purpose Some controversial cases of bail-in in the emerging countries have raised the
question about whether for those countries to have in place a regulation for the bail-in is …

This article develops a new index to monitor financial stability in South Africa over the period
1995–2017. Rather than selecting indicators based on deemed relevance, the novelty of our …

South African Reserve Bank (SARB) Working Papers are written by staff members of the
SARB and, on occasion, by consultants under the auspices of the SARB. The papers deal …

Following the collapse of Saambou bank in February 2002, contagion rapidly spread
amongst South African small and medium-sized banks. By the end of 2003, half of the …

We trace a corporate governance channel of bank shock transmission into the real
economy. Using 1,245 US bank enforcement actions (EAs) issued between 1990 and 2017 …

This paper constructs an index of financial stress for South Africa (SAFSI) to monitor the
intensity of stress in the financial system of the country over the period 1995-2017, by …