dc.contributor.author | Koleśnik, Jan | |
dc.date.accessioned | 2025-03-10T11:20:40Z | |
dc.date.available | 2025-03-10T11:20:40Z | |
dc.date.issued | 2025-03-10 | |
dc.identifier.issn | 1508-2008 | |
dc.identifier.uri | http://hdl.handle.net/11089/54929 | |
dc.description.abstract | The objective of this article is to present the results of an analysis of how the form of activities of EU banking groups affected their decisions to purchase non-euro area EU government bonds during the COVID-19 pandemic. The dataset consists of the portfolios of government bonds (including both on- and off-balance sheet items) issued by non-euro area EU countries held by 93 EU banking groups (data aggregated at the highest group level). For each country surveyed, we analysed the structure of banks purchasing the bonds issued by that country and its evolution between 2019 and 2022, with purchasers broken down into domestic banks and EU banking groups operating in the relevant market through subsidiaries or branches. The analysis shows that, during the COVID-19 pandemic, the decisions to purchase the government bonds of non-euro area EU countries were primarily determined by the operational activities of these groups in the local markets. However, significant similarities were observed within the three country groups identified. The added value of the analysis is that it provides insights into the resilience of these banking groups against the ‘moral suasion’ exerted by non-euro area EU countries to purchase their government bonds. Notably, domestic banking groups exhibited the least resistance to this moral suasion, as evidenced by their increasing share of a specific issuer’s government bonds within the portfolio held by all EU banking groups across nearly all surveyed countries. | en |
dc.description.abstract | Celem artykułu jest ocena wpływu formy działalności unijnych grup bankowych na decyzje w zakresie nabywania rządowych papierów wartościowych krajów UE spoza strefy euro podczas pandemii COVID-19. Efektem badania jest także określenie odporności unijnych grup bankowych na „perswazję moralną” krajów UE spoza strefy euro w zakresie nabywania ich obligacji skarbowych. Analizie poddano portfele skarbowych papierów wartościowych (obejmujące zarówno pozycje bilansowe, jak i pozabilansowe) wyemitowanych przez kraje UE spoza strefy euro, posiadane przez 93 grupy bankowe (dane agregowane na najwyższym poziomie grupy) z krajów należących do Unii Europejskiej. Przeprowadzone analizy wykazały, iż podczas pandemii COVID-19 decyzje podejmowane przez unijne grupy bankowe w zakresie nabywania skarbowych papierów wartościowych krajów UE spoza strefy euro co do zasady były uzależnione od formy działalności tych grup na rynkach lokalnych w badanych krajach, aczkolwiek istotne podobieństwa obserwowane były w ramach wyodrębnionych trzech grup krajów. Najniższa odporność unijnych grup bankowych na „perswazję moralną” krajów UE spoza strefy euro w zakresie nabywania ich obligacji skarbowych dotyczyła zaś krajowych grup bankowych, których łączne udziały w portfelu obligacji skarbowych danego emitenta, posiadanych przez wszystkie unijne grupy bankowe, wzrosła co do zasady we wszystkich badanych krajach. | pl |
dc.language.iso | en | |
dc.publisher | Wydawnictwo Uniwersytetu Łódzkiego | pl |
dc.relation.ispartofseries | Comparative Economic Research. Central and Eastern Europe;1 | pl |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/4.0 | |
dc.subject | EU banking groups | en |
dc.subject | government bonds | en |
dc.subject | moral suasion | en |
dc.subject | non-euro area EU countries | en |
dc.subject | unijne grupy bankowe | pl |
dc.subject | obligacje skarbowe | pl |
dc.subject | perswazja moralna | pl |
dc.subject | kraje UE spoza strefy euro | pl |
dc.title | The Operational Activities of EU Banking Groups and the Portfolio of Government Bonds during the COVID-19 Pandemic – the Case of Non-euro Area EU Countries | en |
dc.title.alternative | Forma działalności unijnych grup bankowych a portfel rządowych papierów wartościowych w czasie pandemii COVID-19 – przypadek krajów UE spoza strefy euro | pl |
dc.type | Article | |
dc.page.number | 133-152 | |
dc.contributor.authorAffiliation | SGH Warsaw School of Economics, Institute of Banking, Warsaw, Poland | en |
dc.identifier.eissn | 2082-6737 | |
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dc.contributor.authorEmail | jan.kolesnik@sgh.waw.pl | |
dc.identifier.doi | 10.18778/1508-2008.28.08 | |
dc.relation.volume | 28 | |