04857oam 22013214 450 991078833730332120230721045609.01-4623-0835-X97866128430061-4519-8727-71-4518-7226-71-282-84300-1(CKB)3170000000055243(SSID)ssj0000940797(PQKBManifestationID)11967051(PQKBTitleCode)TC0000940797(PQKBWorkID)10955751(PQKB)10753356(OCoLC)550641065(MiAaPQ)EBC1605898(IMF)WPIEE2009079(EXLCZ)99317000000005524320020129d2009 uf 0engurcn|||||||||txtccrExposure to Real Estate Losses : Evidence from the US Banks /Marcelo Pinheiro, Deniz IganWashington, D.C. :International Monetary Fund,2009.33 pIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1661-2 Includes bibliographical references.We implement a three-step procedure to assess the extent of exposure to real estate in commercial banks. First, we demonstrate interest rates and income to be the major determinants of delinquency. Then, we adopt a stress testing approach to calculate the impact of any adverse changes in these determinants. This suggests that a 1.3 percentage point increase in mortgage interest rate leads to a 20 percent decrease in a typical bank's distance to default. Finally, we look at the cross-sectional differences and indentify the banks with rapid loan growth along with high cost-income ratio as the most vulnerable.IMF Working Papers; Working Paper ;No. 2009/079Real estate investmentUnited StatesReal propertyUnited StatesBanks and BankingimfMoney and Monetary PolicyimfReal EstateimfIndustries: Financial ServicesimfMacroeconomicsimfHousehold Behavior: GeneralimfBusiness FluctuationsimfCyclesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfNonagricultural and Nonresidential Real Estate MarketsimfReal Estate Markets, Spatial Production Analysis, and Firm Location: GeneralimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfPersonal Income, Wealth, and Their DistributionsimfFinanceimfBankingimfProperty & real estateimfMonetary economicsimfLoansimfReal estate pricesimfBank creditimfFinancial institutionsimfPricesimfMoneyimfPersonal incomeimfNational accountsimfBanks and bankingimfHousingimfCreditimfIncomeimfUnited StatesimfReal estate investmentReal propertyBanks and BankingMoney and Monetary PolicyReal EstateIndustries: Financial ServicesMacroeconomicsHousehold Behavior: GeneralBusiness FluctuationsCyclesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesNonagricultural and Nonresidential Real Estate MarketsReal Estate Markets, Spatial Production Analysis, and Firm Location: GeneralMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralPersonal Income, Wealth, and Their DistributionsFinanceBankingProperty & real estateMonetary economicsLoansReal estate pricesBank creditFinancial institutionsPricesMoneyPersonal incomeNational accountsBanks and bankingHousingCreditIncomePinheiro Marcelo1472713Igan Deniz1099130DcWaIMFBOOK9910788337303321Exposure to Real Estate Losses3685578UNINA