-rated tranches were economically trivial for the typical bank, but banks with greater holdings performed more poorly during the …-rated tranches are not higher for banks with large trading books in regressions that control for bank size. The ratio of highly …-rated tranches holdings to assets increases with bank assets, but not for banks with more than $50 billion of assets. This evidence …

securitization was booming …

economies in the world. Finally, for Europe we assess the relative importance of cross-border bank spillovers as compared to … domestic bank spillovers. The results suggest, inter alia, that systemic risk in the US is higher than in the euro area, mainly …

This paper examines the use of credit derivatives by US bank holding companies from 1999 to 2003 with assets in excess … of one billion dollars. Using the Federal Reserve Bank of Chicago Bank Holding Company Database, we find that in 2003 … represent on average two thirds of the assets of bank holding companies with assets in excess of $1 billion. Few banks are net …

We develop a new identification strategy to evaluate the impact of the geographic expansion of bank holding company … (BHC) assets across U.S. metropolitan statistical areas (MSAs) on BHC risk. We find that the geographic expansion of bank …

monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …

This paper investigates whether the securitization of corporate bank loans had an impact on the price of corporate debt … spread than that of loans that are not subsequently securitized. To identify the particular role of securitization in loan … likelihood of securitization. We document that Term Loan B facilities, facilities originated by banks that originate CLOs, and …

For nearly a decade prior to the collapse of structured finance markets in late 2007, securitization by collateralized … whether securitization was associated with risky lending in the corporate loan market by examining the performance of … comparable credit quality. However, within a CLO portfolio, loans originated by the bank that acts as the CLO underwriter …

While banks may change their supply of credit due to bank balance sheet shocks (the local lending channel), firms can … become significantly more favorable due to securitization. Securitization also leads to an expansion in credit on the … extensive margin towards first-time bank clients, and these borrowers are significantly more likely to end up in default …