Grant detail

GACR 20-00178S - The impact of the normalisation of interest rates on risk management

Principal investigator: prof. PhDr. Petr Teplý Ph.D.
Collaborators: Mgr. Hana Džmuráňová
Mgr. Petr Hanzlík
doc. PhDr. Ing. Ing. Petr Jakubík Ph.D. Ph.D.
Ing. Mgr. Barbora Štěpánková M.A., Ph.D.
Description: In the immediate aftermath of the Global Financial Crisis in 2007-2009, we saw central banks around the world reduce monetary policy rates to very low levels, which sometimes included negative rates. These low rates have persisted for a particularly long period, and although, by 2019, some countries have moved to a normalisation of rates, rates continue to be remarkably low in a number of other countries. Within this normalisation, risk management models used by banks, insurers and valuation models of financial products are worthwhile to explore. The overall aim of this project is to contribute to both theoretical and empirical research on risk management of financial institutions during of the normalisation of interest rates. Moreover, we will propose new financial risk instruments. For better transparency, the project is divided into three overlapping parts: banks, insurance companies, financial derivatives.
Participation: Prague University of Business and Economics, Czech Republic (Doc. Bohumil Stádník, Dr. Petra Jilková, Dr. David Slánský, Ing. Lukáš Fiala, Ing. Mikuláš Pýcha)
University of Pardubice, Czech Republic (Doc. Liběna Černohorská, Doc. Jan Černohorský)
Massey University, New Zealand (Prof. David Tripe)
Work in grant:
Web link:
Finance: The Czech Science Foundation
End date: 31.12.2022

An Alternative Assessment of Banks’ Risk in a Low Interest Rate Environment

Are European commercial banks more profitable than cooperative banks? Evidence from a low interest rate environment

Consistency of Banks’ Internal Probability of Default Estimates: Empirical Evidence from the COVID-19 Crisis

Early Warning System for the European Insurance Sector

Factors Affecting Bank Loan Quality: A Panel Analysis of Emerging Markets

Impact of Green Bond Policies on Insurers: Evidence from the European Equity Market

Key Factors of the Net Interest Margin of European and US Banks in a Low Interest Rate Environment

Suspension of insurers’ dividends as a response to the COVID-19 crisis: Evidence from the European insurance equity market

The Use of Borrower-based Measures within Macroprudential Policy: Evidence from the European Economic Area


The 22nd Annual Conference on Finance and Accounting, Czech Republic

June 2023


Česká Spořitelna


Patria Finance