the security level for each bank in each period, we find that during the crisis, banks with higher trading expertise …

bank-level can impact aggregate volatility. We find weak evidence for a link between granular banking sector volatility and …

Bank distress can have severe negative consequences for the stability of the financial system, the real economy, and … for public finances. Regimes for the restructuring and resolution of banks, financed by bank levies and fiscal backstops …, seek to reduce these costs. Bank levies attempt to internalize systemic risk and to increase the costs of leverage. This …