We study the transmission of monetary policy through bank securities portfolios using granular supervisory data on U ….S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during …

Studies of intermediated arbitrage argue that bank balance sheets are an important consideration, yet little evidence …

average bank has a large notional amount of swaps-- $434 billion, or more than 10 times assets. But after accounting for the … significant extent to which swap positions offset each other, the average bank has essentially no net interest rate risk from … banks, with some bank swap positions decreasing and some increasing with rates, but aggregating swap positions at the level …

widespread stress, with adverse affects on bank intermediation thereafter. We discuss the bank capital and the bank funding … conclude by discussing the increasing extension of bank credit lines to non-bank financial intermediaries, as well as the role …

recognizing greater risks and losses, can lead to solvency problems that look like liquidity (bank-run) crises. Regulatory …

, why commercial bank leverage has tended to increase over time and why large banks tend to have relatively less capital …