had a measurable effect on the stock market valuation of the forty-two bank holding companies subject to the SEC order. I …

mechanisms for shadow banking that have been documented in the literature. I then illustrate the role of shadow bank policies …

Many large U.S. bank holding companies (BHCs) continued to pay dividends during the recent financial crisis, even as … financial market conditions deteriorated, large losses accumulated, and emergency capital and liquidity were being provided by …

liquidity against a range of assets during 2008-09. Dealers with lower equity returns and greater leverage prior to borrowing … liquidity in explaining dealer behavior. The results suggest that both financial performance and balance sheet liquidity play a …

Pierret (2015) presents empirical analysis of the solvency-liquidity nexus for the banking system, documenting that a …-causes higher solvency risk. These results point toward a tight interaction between solvency and liquidity risk over time. My …

monetary policy’s risk-return trade-off, including 1) pricing of risk, 2) leverage, 3) maturity and liquidity mismatch, and 4 …