The paper examines the basic rationale and features of the proposals adopted to separate specific investment and commercial banking activities (Volcker rule, Vickers and Liikanen proposals). In particular, it focuses on the likely implications of such initiatives for: (i) financial stability and...

Banks that enjoyed generous external financial support tended to under-price risk in theinternational syndicated loan market and did not show signs of innovation in their loanparticipations. Loans arranged by such banks had on average lower spreads (controlling forrisk and other characteristics)...

We document that banks reduce supply of jumbo mortgage loans when policy uncertainty increases in their headquarter states as measured by the timing of US gubernatorial elections. The reduction is larger for term-limited elections and close elections. We utilize high-frequency, geographically...

We show that banks reduce the supply of jumbo mortgage loans when policy uncertainty increases, as measured by the timing of US gubernatorial elections in banks' headquarter states. We use high-frequency, geographically granular loan-level data to address an identification problem arising from...