bank liquidity does not translate into lower loan spreads for high-risk banks for maturities beyond one year, even as it … lowers deposit spreads for both high-risk and low-risk banks. This adversely affects the balance sheets of highrisk bank … borrowers, leading to lower payouts, capital expenditures and employment. Overall, our results suggest that banks' capital …

bank liquidity does not translate into lower loan spreads for high-risk banks for maturities beyond one year, even as it … lowers deposit spreads for both high-risk and low-risk banks. This adversely affects the balance sheets of highrisk bank … borrowers, leading to lower payouts, capital expenditures and employment. Overall, our results suggest that banks' capital …

relationship orientation of banks …

We show that negative monetary policy rates induce systemic banks to reach-for-yield. For identification, we exploit … the 26 largest euro area banking groups. Banks with more customer deposits are negatively affected by negative rates, as … higher returns. Effects are stronger for less capitalized banks, private sector (financial and non-financial) securities and …

We study efficiency properties of competitive economies in which banks provide liquidity insurance and interact on … secondary asset markets. While all banks are subject to extrinsic risk, a bank's portfolio choice determines whether it is prone … new source of multiplicity of equilibrium. For low sunspot probabilities, there are equilibria in which all banks are run …

Using a comprehensive dataset from German banks, we document the usage of sovereign credit default swaps (CDS) during … the European sovereign debt crisis of 2008-2013. Banks used the sovereign CDS market to extend, rather than hedge, their … associated with protection selling. The findings are driven by the actions of a few non-dealer banks which sold CDS protection …

small compared to those caused by banks' balance sheets window dressing at quarter ends and by the hedging pressure for Bund …

small compared to those caused by banks' balance sheets window dressing at quarter ends and by the hedging pressure for Bund …

practices of privately held banks. We study a unique change in disclosure regulation under German banking law which introduces …-sectional variation and show that the change is associated with differences in the local information environment and banks' funding …