Micro factors affect Italian banks’ sovereign debt purchases, paper argues
Sovereign debt purchases different among small and large Italian banks
The differing needs of small and large Italian banks had an important effect on how much sovereign debt they held during the financial crisis, a paper published by the Bank of Italy argues.
In Purchases of sovereign debt securities by Italian banks during the crisis: the role of balance-sheet conditions, Massimiliano Affinito, Giorgio Albareto and Raffaele Santioni note that many existing papers stress the importance of government persuasion in banks' decision to hold sovereign debt.
The authors
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