Japanese banking crisis. By leveraging a unique dataset merging firm-level financial statements and bank balance sheets, the …

externalities between the two countries arise from cross-border bank ownership. The two countries face (i) a regulatory decision of … contrast, bailout policies are centralized only when international spillovers from cross-border bank ownership are strong, and …

bank market values hardly respond to changes in the default risk of individual systemic banks. Together, however, changes …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank. …

incentives to implement such a trigger? We construct a theoretical model of a bank that is financed with debt and equity, and a … bank manager monitoring the bank’s loan portfolio. The manager must be incentivized to warn the board before a crisis …

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …

coordinated ones when governments care equally about bank profits, taxpayers, and consumers. …