Antonis Kotidis
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View article: The 2023 Banking Turmoil and the Bank Term Funding Program
The 2023 Banking Turmoil and the Bank Term Funding Program Open
We use high-frequency data to examine the effectiveness of the Bank Term Funding Program (BTFP) in supporting the liquidity positions of vulnerable banks during the March 2023 banking turmoil. We uncover three key findings. First, our high…
View article: Trademarks in Banking
Trademarks in Banking Open
One in five banks in the United States share a similar name. This can increase the likelihood of confusion among customers in the event of an idiosyncratic shock to a similarly named bank. We find that banks that share their name with a fa…
View article: Guaranteeing Trade in a Severe Crisis: Cash Collateral Over Bank Guarantees
Guaranteeing Trade in a Severe Crisis: Cash Collateral Over Bank Guarantees Open
Banks guarantee international trade through letters of credit. This paper analyzes what happens to trade when the critical role of banks as trade guarantors is compromised. Using the case of the Greek capital controls in 2015, the events a…
View article: Guaranteeing trade in a severe crisis: cash collateral over bank guarantees
Guaranteeing trade in a severe crisis: cash collateral over bank guarantees Open
Banks guarantee international trade through letters of credit. This paper analyzes what happens to trade when the critical role of banks as trade guarantors is compromised. Using the case of the Greek capital controls in 2015, the events a…
View article: Guaranteeing Trade in a Severe Crisis: Cash Collateral over Bank Guarantees
Guaranteeing Trade in a Severe Crisis: Cash Collateral over Bank Guarantees Open
Banks guarantee international trade through letters of credit.This paper analyzes what happens to trade when the critical role of banks as trade guarantors is compromised.Using the case of the Greek capital controls in 2015, the events aro…
View article: Public and private liquidity during crises times: evidence from Emergency Liquidity Assistance (ELA) to Greek banks
Public and private liquidity during crises times: evidence from Emergency Liquidity Assistance (ELA) to Greek banks Open
In a surprise move during a crisis, the ECB excluded Greek Government Bonds from the set of eligible collateral in monetary policy operations. In turn, Greek banks turned to Emergency Liquidity Assistance (ELA) to meet their funding needs.…
View article: Cyberattacks and Financial Stability: Evidence from a Natural Experiment
Cyberattacks and Financial Stability: Evidence from a Natural Experiment Open
This paper studies the effects of a unique multi-day cyberattack on a technology service provider (TSP). Using several confidential daily datasets, we identify and quantify first- and second-round effects of the event. For banks using rele…
View article: Implications of Cyber Risk for Financial Stability
Implications of Cyber Risk for Financial Stability Open
Cyber risk, defined as the risk of loss from dependence on computer systems and digital technologies, has grown in the financial system. Cyber events, especially cyberattacks, are among the top risks cited in financial stability surveys in…
View article: How much lockdown policies contribute to local unemployment? Evidence from the first and second waves of COVID-19
How much lockdown policies contribute to local unemployment? Evidence from the first and second waves of COVID-19 Open
Did people reduce their social interactions as a result of the pandemic, restrictive lockdown policies, or both? What was the impact of reduced social interactions on local employment? Importantly, why did unemployment spike during the fir…
View article: Double Liability in a Branch Banking System: Historical Evidence from Canada
Double Liability in a Branch Banking System: Historical Evidence from Canada Open
We investigate the effects of the abolition of double liability requirement imposed on bank shareholders in Canada on bank risk-taking and lending behavior. Under the double liability rule, the shareholders of a bank were liable up to twic…