power with banks. Issuer firms also reduce the amount of used bank credit, expand their total and fixed assets, and raise … regulatory reform which allowed unlisted firms to issue minibonds. Using the Italian Credit Register, we compare new loans …

opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … maturity than non-issuer firms do, suggesting an improvement in their bargaining power with banks. In addition, issuer firms … reduce the amount of used bank credit but increase the overall amount of available external funds, pointing to a substitution …

levy was implemented supply more credit. This increase is more significant for larger lenders and banks that are more … banks' liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference …-in-differences approach we assess the impact of this tax levy on banks' participation in the syndicated loan market. We further investigate …

Firms with credit-default swaps (CDS) traded on their debt may face "empty creditors'' as hedged creditors have less … bank-firm CDS net notional and credit exposures we find that the probability of default for firms with CDS traded on them …'s creditors and in the concentration of the firm's debt. Further, we find that firms with longer credit relationships, with higher …

prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … overnight index swap. We have price data at the individual bank level and, unique to this paper, data on individual banks … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its …

identification and data on all Swiss banks. First, we find that going negative can interrupt not only the pass-through from policy to … deposit rates, but also that to mortgage rates. Second, banks’ ability to offset negative deposit margins with increased … mortgage margins is shown to depend on market power. Third, imposing negative rates on all central bank reserves causes banks …

question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …

strength and extraordinary sovereign support and provide an estimate of banks' creditworthiness. Thus, the impact of the …

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 …

, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the …