and banks. Finally, we find spillover effects in particular from sovereigns in the euro area periphery to the core …

We show that banks' cash flow exposure to interest rate risk, or income gap, plays a crucial role in their lending … increases significantly with their income gap, even when banks use interest rate derivatives. In a second step, we show that the … conclude that banks' exposure to interest rate risk is an important determinant of the bank-level intensity of the lending …

-financial firm and commercial bank before the crisis, but the picture was quite different for large commercial banks States and for … investment banks worldwide. We document the following patterns: a) there was an increase in leverage ratios of investment banks … and financial firms during the early 2000s; b) there was no visible increase for commercial banks and non-financial firms …

of financial integration on business cycle synchronization as a robust regularity. We use a confidential dataset on banks …

prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … overnight index swap. We have price data at the individual bank level and, unique to this paper, data on individual banks … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its …

This paper studies the impact of competition on the determination of interest rates, and on banks’ risk taking … lower entry costs foster competition in deposit rates and reduce banks’ incentives to limit risk exposure. While higher …