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An exposure of commercial banks in the terms of an impact of government bondholding with the context of its risks and implications

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dc.title An exposure of commercial banks in the terms of an impact of government bondholding with the context of its risks and implications en
dc.contributor.author Chovancova, Bozena
dc.contributor.author Gvozdiak, Vladimir
dc.contributor.author Rozsa, Zoltan
dc.contributor.author Rahman, Ashiqur
dc.relation.ispartof Montenegrin Journal of Economics
dc.identifier.issn 1800-5845 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2019
utb.relation.volume 15
utb.relation.issue 1
dc.citation.spage 173
dc.citation.epage 188
dc.type article
dc.language.iso en
dc.publisher Economic Laboratory Transition Research Podgorica-Elit
dc.identifier.doi 10.14254/1800-5845/2019.15-1.13
dc.relation.uri https://search.proquest.com/docview/2244065746?accountid=15518
dc.subject financial crisis en
dc.subject debt crisis en
dc.subject government bonds en
dc.subject credit quality en
dc.subject bondholding en
dc.subject commercial banking en
dc.subject European Union en
dc.description.abstract The European government bonds are considered a safe investment among the asset managers and investors. For instance, commercial banks as portfolio holders use them to achieve additional yields, and to store liquidity in them or to refinance via them, when government bonds serve as a collateral in the refinancing operations. The financial and debt crisis changed the view of the European government bonds as the safest form of investment. Considering this economic development, some advanced European countries failed to meet their liabilities resulting from issued bonds towards their holders. In this analysis, a focus is laid on the contemporary issues related to government bondholdings by commercial banks in view of the current financial crisis conditions. Based on the European Central Bank data, we analyse the relationship between the credit rating of the bond and the ten-year interest rates of government bonds by means of the panel regression on the bondholding of commercial banks in the period from 2010 to 2014. Our regression suggests that there is a statistically significant correlation between these independent variables and bondholding. A preferential treatment of the government bonds as the risk-free assets might lead to an overexposure of the commercial banks to the domestic bonds. As an implication, we summaries the proposals for treating overexposure of commercial banks to national debts in the recent time. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1008824
utb.identifier.scopus 2-s2.0-85069706477
utb.identifier.wok 000469786600013
utb.source j-wok
dc.date.accessioned 2019-08-13T10:17:23Z
dc.date.available 2019-08-13T10:17:23Z
dc.description.sponsorship VEGA [1/0009/17]
dc.rights Attribution 3.0 Unported
dc.rights.uri http://creativecommons.org/licenses/by/3.0/
dc.rights.access openAccess
utb.contributor.internalauthor Rahman, Ashiqur
utb.fulltext.sponsorship This work was supported by the VEGA under Grant 1/0009/17 "The making of the Capital union in Europe and its impacts on individual member countries
utb.wos.affiliation [Chovancova, Bozena; Gvozdiak, Vladimir] Univ Econ Bratislava, Fac Natl Econ, Dept Banking & Int Finance, Bratislava, Slovakia; [Rozsa, Zoltan] Publ Adm Bratislava, Sch Econ & Management, Bratislava, Slovakia; [Rahman, Ashiqur] Tomas Bata Univ Zlin, Facuty Management & Econ, Zlin, Czech Republic
utb.scopus.affiliation University of Economics in Bratislava, Faculty of National Economy, Department of Banking and International Finance, Slovakia; School of Economics and Management in Public Administration in Bratislava, Bratislava, Slovakia; Tomas Bata University in Zlin, Facuty of Management and Economics, Zlin, Czech Republic
utb.fulltext.projects 1/0009/17
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Attribution 3.0 Unported Except where otherwise noted, this item's license is described as Attribution 3.0 Unported