Banking
Danish Us-Salam, “Mitigating Vulnerability: The Role of Risk Warnings, Information Order & Salience in Crypto Assets”
Central Bank of Ireland, Working paper n° 9
Posted in: Articolo
Feb
26
2026
Abstract: The growing popularity of crypto assets has driven increased engagement, often fuelled by promotional content that highlights past returns while downplaying risks. This paper evaluates the effectiveness of behaviourally informed risk warnings in such a setting. Using an online randomized controlled trial, participants viewed ...more »
Giulio Mazzolini, Dilyara Salakhova, Margherita Giuzio and Sujit Kapadia, “Sustainability labels vs. reality: how climate-friendly are green and ESG funds?”
European Central Bank, Working Paper n° 3121
Posted in: Articolo
Feb
26
2026
Abstract: This paper assesses the environmental performance of sustainability-related investment funds compared to conventional ones across three dimensions: financed activities, portfolio carbon footprint, and investment in firms with ambitious science-based targets. We identify ESG funds using Morningstar (MS) strategies, the Sustainable Finance Disclosure Regulation’s Article ...more »
Tagged width: banking, capital markets
Fabio Fornari, Daniele Pianeselli and Andrea Zaghini, “Environmental score and bond pricing: it better be good, it better be green”
European Central Bank, Working Paper n° 3176
Posted in: Articolo
Feb
26
2026
Abstract: We provide empirical evidence that the pricing of green bonds tends to be highly sophisticated and based on a two-tiered approach. When buying a green bond, investors do not look only at the presence of a green label, but also consider additional characteristics of ...more »
Tagged width: banking, capital markets
Anna Amirdjanova, David Lynch and Anni Zheng, “Initial Margin for Crypto Currencies Risks in Uncleared Markets”
Federal Reserve Board, Washington, D.C., Working n° 2026-009
Posted in: Articolo
Feb
26
2026
Abstract: We examine prospective classification of crypto currencies risks within the ISDA Standardized Initial Margin Model (SIMM) framework for calculation of initial margin on trades sensitive to cryptocurrencies’ risk factors in the uncleared market. Consistent with the view that cryptocurrencies are digital assets that fundamentally ...more »
Tagged width: banking, capital markets, fintech
Simone Di Paolo, Danilo Liberati and Lorenzo Rubeo, “(Green)washing the trust: climate information and banking policies”
Banca d’Italia, Working paper n° 1514
Posted in: Articolo
Feb
26
2026
Abstract: The paper proposes a methodology to identify firms engaged in greenwashing, that is, firms that claim to be more sustainable than they actually are. It then assesses the potential impact of this practice on the price and volume of bank loans, also following changes ...more »
Tagged width: banking, capital markets
Manuel Buchholz, Axel Loeffler and Patrick Sigel, “Do capital requirements and their international differences affect banks’ profitability?”
Deutsche Bundesbank, Working paper n° 31/2025
Posted in: Articolo
Gen
29
2026
Abstract: A key element of the Basel III reforms are stricter capital requirements, which have been implemented with varying degrees of stringency across jurisdictions. We examine the impact of these requirements on bank profitability in the US and Europe between 2019 and 2024. We find ...more »
Tagged width: banking, capital markets
Mahmoud Fatouh, Benjamin Guin and Haluk Unal, “Product innovation in the UK mortgage market: the case of green mortgages”
Bank of England, Working paper n° 1167
Posted in: Articolo
Gen
29
2026
Abstract: We study product innovation in the UK mortgage market by analysing when and how attributes outside the traditional structure of mortgage contracts become pricing relevant. To do so, we develop a stylised framework that treats mortgage products as structured bundles of attributes, focusing on ...more »
Tagged width: banking, capital markets
Alessandro Moro and Andrea Zaghini, “Cui prodest? The heterogeneous impact of green bonds on companies’ ESG score”
Banca d’Italia, Working paper n° 1499
Posted in: Articolo
Gen
29
2026
Abstract: This study analyses, from both a theoretical and empirical perspective, whether issuing green bonds improves companies’ environmental performance. The theoretical part develops a model with information asymmetries between investors and issuing companies, which can choose between polluting and clean technology. The empirical analysis, based ...more »
Tagged width: banking, capital markets
Somnath Chatterjee and David Humphry, “Solvency and systemic risk of European life insurers”
Bank of England, Working paper n° 1168
Posted in: Articolo
Gen
29
2026
Abstract: The paper presents two risk-based capital frameworks for systemically important European life insurers by drawing a distinction between solvency risk and systemic risk. Solvency risk arises when the value of a life insurer’s assets falls below some threshold proportion of its liabilities. To assess ...more »
Tagged width: banking, capital markets, insurance
Jonas Heim and Thomas Nitschka, “On the carbon premium in Swiss stock returns”
SWISS NATIONAL BANK, Working paper n° 13/2025
Posted in: Articolo
Gen
29
2026
Abstract: This paper evaluates whether CO2 emission levels or emission intensities are firm characteristics that drive Swiss firms’ stock returns. We show that standard characteristics such as size and the book-to-market equity ratio are more important determinants of firm-level stock returns than are CO2 levels ...more »
Tagged width: banking, capital markets
