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The Secular Decline of Bank Balance Sheet Lending
Buchak, Greg; Matvos, Gregor; Piskorski, Tomasz; Seru, Amit - National Bureau of Economic Research - 2024
intermediated through arms-length transactions, such as securitization. This paper documents these trends, explores their causes … structural model to explore whether technological improvements in securitization, shifts in saver preferences away from deposits …, and changes in implicit subsidies and costs of bank activities can explain these shifts. Declines in securitization cost …
Persistent link: https://www.econbiz.de/10014486266
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Book Value Risk Management of Banks : Limited Hedging, HTM Accounting, and Rising Interest Rates
Granja, João; Jiang, Erica Xuewei; Matvos, Gregor; … - National Bureau of Economic Research - 2024
In the face of rising interest rates in 2022, banks mitigated interest rate exposure of the accounting value of their assets but left the vast majority of their long-duration assets exposed to interest rate risk. Data from call reports and SEC filings shows that only 6% of U.S. banking assets...
Persistent link: https://www.econbiz.de/10014512148
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Bank Risk and Stockholding (1910-1934)
Jaremski, Matthew S. - National Bureau of Economic Research - 2022
The massive rise in U.S. stockholding during the early twentieth century resulted in the deepening of securities markets, the spread of investment banks, and the expansion of publicly held corporations. This paper makes use of a unique panel database of South Dakota bank stockholders from...
Persistent link: https://www.econbiz.de/10013462689
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Data and Welfare in Credit Markets
Jansen, Mark; Nagel, Fabian; Yannelis, Constantine; … - National Bureau of Economic Research - 2022
We show how to measure the welfare effects arising from increased data availability. When lenders have more data on prospective borrower costs, they can charge prices that are more aligned with these costs. This increases total social welfare, and transfers surplus from borrowers to lenders. We...
Persistent link: https://www.econbiz.de/10013334452
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Bank Funding Risk, Reference Rates, and Credit Supply
Cooperman, Harry; Duffie, Darrell; Luck, Stephan; Wang, … - National Bureau of Economic Research - 2023
Corporate credit lines are drawn more heavily when funding markets are more stressed. This covariance elevates expected bank funding costs. We show that credit supply is dampened by the associated debt-overhang cost to bank shareholders. Until 2022, this impact was reduced by linking the...
Persistent link: https://www.econbiz.de/10014226104
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Does the Geographic Expansion of Bank Assets Reduce Risk?
Goetz, Martin - 2014
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 assets reduces risk. Moreover, geographic expansion...
Persistent link: https://www.econbiz.de/10012457908
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A Model of Shadow Banking
Gennaioli, Nicola - 2011
investor wealth drives the demand for riskless debt and indirectly for securitization, ii) intermediary assets and leverage …
Persistent link: https://www.econbiz.de/10012461542
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Is the Decline in the Number of Community Banks Detrimental to Community Economic Development?
Minton, Bernadette A.; Taboada, Alvaro G.; Williamson, Rohan - National Bureau of Economic Research - 2024
Our research examines the impact of dwindling community bank numbers on community investment and economic development. 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...
Persistent link: https://www.econbiz.de/10014544798
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The Last Mile of Monetary Policy : Inattention, Reminders, and the Refinancing Channel
Byrne, Shane; Devine, Kenneth; King, Michael; McCarthy, … - National Bureau of Economic Research - 2023
Under-refinancing limits the transmission of accommodative monetary policy to the household sector and costs mortgage holders in many countries a significant fraction of income annually. We test whether targeted communication can reduce the attention frictions that inhibit transmission by...
Persistent link: https://www.econbiz.de/10014247964
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Dynamic Banking with Non-Maturing Deposits
Jermann, Urban J.; Xiang, Haotian - National Bureau of Economic Research - 2023
The majority of bank liabilities are deposits typically not withdrawn for extended periods. We propose a dynamic model of banks in which depositors forecast banks' leverage and default decisions, and withdraw optimally by trading off current against future liquidity needs. Endogenous deposit...
Persistent link: https://www.econbiz.de/10014247979