Capital Policy of German Savings Banks – A Survey


Kleff, Volker


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URL: http://ub-madoc.bib.uni-mannheim.de/1180
URN: urn:nbn:de:bsz:180-madoc-11800
Document Type: Working paper
Year of publication: 2005
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G21 ,
Subject headings (SWD): Deutschland , Kapital , Bank , Survey Feedback
Abstract: In contrast to earlier field studies, we survey German public savings banks on their management of capital. We find that the most important determinants of the savings banks' target capital ratio are risk aversion, the desired credit growth and profitability. Savings banks prefer to manage the level of capital rather than the level of riskweighted assets in order to reach their target capital ratio. The most important instruments to increase the level of capital are lowering costs and issuing subordinated debt. We obtain strong evidence that issuing subordinated debt is a particularly important instrument to increase capital for less capitalised savings banks.
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Kleff, Volker (2005) Capital Policy of German Savings Banks – A Survey. Open Access [Working paper]
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