supervisory regime; that is, their formal integration into the process of the ongoing prudential supervision of banks and other …

suggest possible solutions. We begin this paper by explaining why governance of banks differs from governance of non …

in the one-month and three-month Libor. We explain such stress by modeling leveraged banks' precautionary demand for … turn, banks hoard liquidity and decrease term lending as their rollover risk increases over the term of the loan. High …

serve the public interest. We highlight the importance of information in addressing the public's desire for banks to be safe …

In August of 2007, banks faced a freeze in funding liquidity from the asset-backed commercial paper (ABCP) market. We … investigate how banks scrambled for liquidity in response to this freeze and its implications for corporate borrowing. Commercial … banks in the United States raised deposits and took advances from Federal Home Loan Banks (FHLBs). In contrast, foreign …

techniques, we find that the market had largely deciphered on its own which banks would have capital gaps before the stress test … results were revealed, but that the market was informed by the size of the gap; given our proxy for the expected gap, banks … the financial panic by producing vital information about banks. Our findings also contribute to the academic literature on …