“The Housing Finance Revolution,” in Symposium on Housing, Housing Finance and Monetary Policy, Kansas City Fed, Jackson Hole. Haugh, D., P. Ollivaud and D. Turner (2009). “What Drives Sovereign Risk Premiums? An Analysis of Recent Evidence from the Euro Area,” OECD Economics Department working paper 718. Kumar, M. S. and J. Woo (2010). “Public Debt and Growth,” working paper 174, International Monetary Fund.
Size of the portfolio1 The share of commercial banks in outstanding G-Secs is around 40% (June 2017). Investment of Scheduled Commercial Banks (SCBs) in G-Secs as a percentage of their total investment was around 82% for FY 2016–17. The corresponding figure for Public Sector Banks (PSBs) for FY 2016–17 is slightly higher at 84%. This exposure has noticeably increased since 2014 (Chart 3a).