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Asymmetric systemic risk
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DOI：10.1016/j.jfs.2026.101583.png)
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Abstract
En 中文
Bank regulation focuses on spillovers from large banks to the banking system rather than risks from the banking system to banks. We document that traditional and trading activities affect the flow of systemic risk differently in each direction. We term this phenomenon asymmetric systemic risk, measure it, and explore the consequences and channels behind it. We show higher trading exposures and lower traditional activities underpin higher asymmetry of systemic-risk flows, which was associated with higher default risk during the 2008 crisis through increased profit volatility.
Keywords:
G10
G20
Systemic risk
Financial stability
Bank business models
Journal
IF:
4.2
Papers:
1.2K
Citations:
4.5K
