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Journal of Financial Economics

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Published Classic Journal of Financial Economics Published Apr 2021
Macroprudential FX regulations: Shifting the snowbanks of FX vulnerability?

Toni Ahnert · Kristin Forbes · Christian Friedrich · Dennis Reinhardt

Macroprudential rules on banks' foreign currency exposure do what they are meant to do -- cross-border FX borrowing by banks falls by roughly a third, and bank stock returns become markedly less …