French Banks Amid the Global Financial Crisis

Author/Editor: Xiao, Yingbin
Publication Date: September 01, 2009
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: This paper runs the gamut of qualitative and quantitative analyses to examine the performance of French banks during 2006-2008 and the financial support measures taken by the French government. French banks were not immune but proved relatively resilient to the global financial crisis reflecting their business and supervision features. An event study of the impact of government measures on CDS, debt, and equity markets points to the reduction of credit risk and financing cost as well as the redistribution of resources. With the crisis still unfolding, uncertainties remain and challenges lie ahead, calling for continued vigilance and enhanced risk management.
Series: Working Paper No. 09/201
Subject(s): Asset management | Bank restructuring | Bank soundness | Bank supervision | Banking sector | Business cycles | Corporate sector | Credit risk | Financial crisis | Financial instruments | France | Liquidity management | Profits | Risk management

Author's Keyword(s): French banks | financial crisis | recapitalization | debt guarantee | government support | refinancing
Publication Date: September 01, 2009
Format: Paper
Stock No: WPIEA2009201 Pages: 22
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