-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 …

. Using branch-level deposit rate data, we find little evidence for market discipline as rates are similar across bank … correlated with loan growth in other states in which their bank has some presence, suggesting internal capital markets help … reallocate the bank's funding …

that centers on the existence of an increasingly efficient market for bank shares. The stock market was important because …

Is bank capital structure designed to extract deposit subsidies? We address this question by studying capital structure … banks finance themselves primarily with short-term debt and originate long-term loans. However, shadow bank debt is provided … primarily by informed and concentrated lenders. (4) Shadow bank leverage increases substantially with size, and the …

traditional partnership replaced by public companies. The organizational change has increased the competition for managerial … talent, which may have weakened the commitment between investors and managers. We show how increased competition and the …

We show that stricter bank liquidity standards can trigger unintended credit booms when there is heterogeneity in …

It is often argued that branching stabilizes banking systems by facilitating diversification of bank portfolios … findings. Using data on national banks from the 1920s and 1930s, we show that branch banking increases competition and forces … strengthening the branch banks themselves. Our empirical results suggest that the effects that branching had on competition were …