largest capital market for state and municipal issuers. Prior research has documented tax, credit, liquidity, and segmentation …

staggered reform progress, we find that banks shift their trading towards less regulated jurisdictions. The result is driven by … agenda items – such as the promotion of central clearing – that are costly, but do not directly benefit banks. We further …

We develop a dynamic model of banking to assess the effects of liquidity and leverage requirements on banks' insolvency … risk. In this model, banks face taxation, flotation costs of securities, and default costs and maximize shareholder value …

-in-differences approach we assess the impact of this tax levy on banks' participation in the syndicated loan market. We further investigate … the impact of the tax levy along bank size and capital structure. We find that banks located in countries where the tax …Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on …