-shock bank capital, explain why banks were able to accommodate these liquidity demands …In March of 2020, banks faced the largest increase in liquidity demands ever observed. Firms drew funds on a massive … scale from pre-existing credit lines and loan commitments in anticipation of cash flow disruptions from the economic …

. Exploiting cross-county, cross-time shale discoveries that generated liquidity windfalls at local bank branches, we construct …We evaluate the impact of the credit conditions facing corporations on their emissions of toxic air pollutants … liquidity shocks through their branches in shale counties and (2) the degree to which a corporation in a non-shale county has a …

liquidity risk. When a syndicated loan to a rated borrower has systematic liquidity risk, the fraction of passive participant … lenders that are banks is about 8% higher than for loans without liquidity risk. In contrast, liquidity risk does not explain … the share of banks as lead lenders. Using a new measure of ex-ante liquidity risk exposure, we find further evidence that …

There is little evidence on how the large market for credit score improvement products affects consumers or credit … market efficiency. A randomized encouragement design on a standard credit builder loan (CBL) identifies null average effects … on whether consumers have a credit score and the score itself, with important heterogeneity: those with loans outstanding …

supply is ample and liquidity constraints, captured by credit limits, do not bind. Standard economic models predict a …Standard economic theory says that unsecured, high-interest, short-term debt -- such as borrowing via credit cards and … bank overdraft facilities -- helps individuals smooth consumption in the event of transitory income shocks. This paper …

encouraged a bank/brokerage-credit-fueled stock-market bubble. The direct effect is a 25 cent increase in a stock's market …Research on leverage and asset-price fluctuations focuses on the direct effect of lax bank lending enabling financially …-constrained investors to take excessive risks. Ignored are unconstrained investors speculating on higher prices during credit booms. To …

A growing literature shows that credit indicators forecast aggregate real outcomes. While researchers have proposed … simple, frictionless, model explains empirical findings commonly attributed to credit cycles. Our key assumption is that … firms have heterogeneous exposures to underlying economy-wide shocks. This leads to endogenous dispersion in credit quality …

This paper develops a network model of interbank lending, in which banks decide to extend credit to their potential … literature on financial networks, we focus on how anticipation of future defaults may result in ex ante "credit freezes," whereby … banks refuse to extend credit to one another. We first characterize the terms of the interbank contracts and the patterns of …

' provision of liquidity insurance in the form of credit lines, their significance in managing corporate liquidity, and the … conclude by discussing the increasing extension of bank credit lines to non-bank financial intermediaries, as well as the role …Over the past two decades, banks have increasingly focused on offering contingent credit in the form of credit lines as …