.S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during …-for-sale securities, unhedged securities, and banks that must include unrealized gains and losses in their regulatory capital. A … more banks are required to adjust their regulatory capital for unrealized value changes of securities …

unsecured notes printed by thousands of local private banks. Using a discontinuous change across towns in the costs of accessing …

In the face of rising interest rates in 2022, banks mitigated interest rate exposure of the accounting value of their … derivatives left most assets unhedged. The banks most vulnerable to asset declines and solvency runs decreased existing hedges … declines, banks used accounting reclassification to diminish the impact of interest rate increases on book capital. Banks …

. Initially, we confirm the vital role of community banks' small business lending in local development. Contrary to popular belief …, we find that a decrease in community banks positively affects community investment, through small business loan (SBL …) originations. Key factors include the local presence of other community banks and the continuity of the consolidating bank …

of banks in which depositors forecast banks' leverage and default decisions, and withdraw optimally by trading off …

less likely than white-owned recipients to borrow from banks and more likely to borrow from fintech lenders is driven … likely than white-owned firms to apply to banks and 7.8 percentage points more likely to apply to fintechs. However, they … face similar average approval disparities at banks (7.4 percentage points) and fintechs (8.4 percentage points). Sorting by …

This study analyzes information production and trading behavior of banks with lending relationships. We combine trade …-by-trade supervisory data and credit-registry data to examine banks' proprietary trading in borrower stocks around a large number of … corporate events. We find that relationship banks build up positive (negative) trading positions in the two weeks before events …

After an unprecedented number of banks suspended operations during the Panic of 1893, the head regulator of banks … chartered by the United States government allowed about 100 banks to reopen after certifying their solvency. We evaluate whether …