Tag Archives: Viral Acharya

Benchmarking the European Central Bank’s Asset Quality Review and Stress Test: A Tale of Two Leverage Ratios

The following is an excerpt from a recent paper written by NYU Stern Professor Viral Acharya and Sascha Steffen: In November 2014, the ECB published its asset quality review (AQR) and comprehensive assessment (ECB 2014), as well as capital shortfall … Continue reading

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Professor Viral Acharya’s Research on Eurozone Stress Testing is Highlighted

The following is an excerpt from the Financial Times: Last week, 25 banks failed the asset quality review (AQR) conducted by the European Central Bank for 130 of the eurozone’s largest banks. In the stress test performed by the European … Continue reading

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Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans By Professor Viral Acharya

This paper shows that the sovereign debt crisis and the resulting credit crunch in the periphery of the Eurozone lead to negative real effects for borrowing firms. Using a hand matched sample of loan information from Dealscan and accounting information … Continue reading

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“The End of Market Discipline? Investor Expectations of Implicit Government Guarantees” by Professor Viral Acharya

Professor Viral Acharya and his co-authors, Deniz Anginer of Virginia Tech and the World Bank and A. Joseph Warburton of Syracuse University, find that bondholders of major financial institutions have an expectation that the government will shield them from large … Continue reading

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Video: Professors Viral Acharya and Ingo Walter Discuss the MSRM Program

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“The ‘Greatest’ Carry Trade Ever? Understanding Eurozone Bank Risks” by Professor Viral Acharya

Professor Viral Acharya and his co-author, Sascha Steffen of ESMT European School of Management and Technology, show that eurozone bank risks during 2007-2013 can be understood as “carry trade” behavior. They find that banks used short-term unsecured funding in wholesale … Continue reading

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“Guaranteed to Fail” by NYU Stern Professors Makes American Banker’s Summer Reading List

Excerpt from American Banker: “This book alleges that Fannie Mae and Freddie Mac were run as the largest hedge fund on the planet. The four authors, all professors at the Leonard N. Stern School of Business at New York University, … Continue reading

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Professor Viral Acharya Named Fellow of the European Corporate Governance Institute

Professor Viral Acharya was named a fellow of the European Corporate Governance Institute (ECGI). The ECGI announced the appointment of five new fellows, including Professor Acharya, at their 2014 General Assembly in Brussels on April 29. Professor Acharya was appointed … Continue reading

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RSVP Today to the Risk Management Symposium 2014

We cordially invite you to attend the second Annual Risk Management Symposium here at NYU Stern. Please join us and other senior business professionals for this opportunity to hear from a number of faculty members and practitioners who will share … Continue reading

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Professors Robert Engle & Viral Acharya Warn that European Stress Test Risk Measures are Flawed

On the release of the US Fed’s latest bank stress tests, NYU Stern School of Business Nobel Laureate Robert Engle and Professor of Finance Viral Acharya warn that European regulators’ stress tests miscalculate the amount of systemic risk banks will … Continue reading

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