Search: financial aggregates
RBA Glossary definition for financial aggregates
financial aggregates – A Reserve Bank of Australia data series specifying measures of the supply of money and credit. It includes some or all of: currency on issue; current deposits with banks; other deposits of the private non-bank sector with banks; borrowings from the private sector by non-bank depository corporations; and credit (loans, advances and bills discounted to the private sector).
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The Real Effects of Debt Covenants: Evidence from Australia
25 Oct 2022
RDP
2022-05
Figure B1: Reported Debt Covenants by Sector. Non-financial listed firms, 2002–20. ... Sources: Author's calculations; Connect4; Morningstar. Figure C2: Financial Statistics and Covenant Breaches.
https://www.rba.gov.au/publications/rdp/2022/2022-05/full.html
Conclusion
25 Oct 2022
RDP
2022-05
Interestingly, there seems to have been a compositional change in covenants over time among non-financial listed firms in Australia. ... Using simple quantification, I find that the compositional change in covenants over time in Australia may have had a
https://www.rba.gov.au/publications/rdp/2022/2022-05/conclusion.html
Aggregate Effects of Covenant Composition
25 Oct 2022
RDP
2022-05
Aggregate Effects of Covenant Composition. Kim Nguyen. October 2022. ... However, to the extent that the same shifts have occurred amongst non-listed firms, this might still suggest some moderate aggregate effects.
https://www.rba.gov.au/publications/rdp/2022/2022-05/aggregate-effects-of-covenant-composition.html
The Real Effects of Debt Covenants: Evidence from Australia
25 Oct 2022
RDP
2022-05
Research Discussion Paper – RDP 2022-05 The Real Effects of Debt Covenants: Evidence from Australia. Kim Nguyen. October 2022. 1,648. KB. I would like to thank Nalini Agarwal, Benjamin Beckers, Leon Berkelmans, James Bishop, Anthony Brassil,
https://www.rba.gov.au/publications/rdp/2022/2022-05/sections.html
Introduction
25 Oct 2022
RDP
2022-05
Download the Paper 1,648. KB. Financial frictions can be important determinants of macroeconomic outcomes. ... A key cause of financial frictions is informational asymmetries and misalignment in incentives between lenders and borrowers (Stein 2003).
https://www.rba.gov.au/publications/rdp/2022/2022-05/introduction.html
Direct Effects of Covenants
25 Oct 2022
RDP
2022-05
breach. The latter happens when firms try to manage their activity and financial position to avoid breaching covenants. ... and financial regulations during and following the global financial crisis, as well as changes in financial reporting standards.
https://www.rba.gov.au/publications/rdp/2022/2022-05/direct-effects-of-covenants.html
Indirect Effects of Covenants – Monetary Policy Transmission
25 Oct 2022
RDP
2022-05
As suggested by the varying financial statistics across covenant groups, selection into different covenants is potentially non-random. ... Therefore, the effects of monetary policy need to be separated from macroeconomic and financial conditions.
https://www.rba.gov.au/publications/rdp/2022/2022-05/indirect-effects-of-covenants-monetary-policy-transmission.html