bigger capital buffer. We conjecture that bank lending to emerging markets during the zero-lower bound period would have been … constrained through the U.S. bank stress tests, reflected in a lower minimum capital ratio in the severely adverse scenario. This … easing when liquidity is abundant, banks are more flexible, and the scope for adjusting lending is larger when they have a …

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 …