Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154309
Authors: 
Rönnqvist, Samuel
Sarlin, Peter
Year of Publication: 
2016
Series/Report no.: 
ECB Working Paper 1876
Abstract: 
In the wake of the still ongoing global financial crisis, bank interdependencies have come into focus in trying to assess linkages among banks and systemic risk. To date, such analysis has largely been based on numerical data. By contrast, this study attempts to gain further insight into bank interconnections by tapping into financial discourse. We present a text-to-network process, which has its basis in co-occurrences of bank names and can be analyzed quantitatively and visualized. To quantify bank importance, we propose an information centrality measure to rank and assess trends of bank centrality in discussion. For qualitative assessment of bank networks, we put forward a visual, interactive interface for better illustrating network structures. We illustrate the text-based approach on European Large and Complex Banking Groups (LCBGs) during the ongoing financial crisis by quantifying bank interrelations and centrality from discussion in 3M news articles, spanning 2007Q1 to 2014Q3.
Subjects: 
bank networks
information centrality
systemic risk
text analysis
JEL: 
E
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-1689-9
Document Type: 
Working Paper

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