of deposit insurance as a function of capital-asset ratio for a bank with demand liabilities and longer term, default …

investor wealth drives the demand for riskless debt and indirectly for securitization, ii) intermediary assets and leverage …

, and changes in implicit subsidies and costs of bank activities can explain these shifts. Declines in securitization cost …The traditional model of bank-led financial intermediation, where banks issue demandable deposits to savers and make … intermediated through arms-length transactions, such as securitization. This paper documents these trends, explores their causes …

that makes risky long-term loans to firms, funded by deposits from savers. Government guarantees create a role for bank …

This paper investigates whether the securitization of corporate bank loans had an impact on the price of corporate debt … spread than that of loans that are not subsequently securitized. To identify the particular role of securitization in loan … likelihood of securitization. We document that Term Loan B facilities, facilities originated by banks that originate CLOs, and …