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Macroprudential policy and the revolving door of risk : lessons from leveraged lending guidance
Kim, Sooji; Plosser, Matthew C.; Santos, João A. C. - 2017
more lax lending policies than banks, we unveil important evidence that nonbanks increased bank borrowing following the …
Persistent link: https://www.econbiz.de/10011657569
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Cournot fire sales
Eisenbach, Thomas M.; Phelan, Gregory - 2018
In standard Walrasian macro-finance models, pecuniary externalities such as fire sales lead to overinvestment in illiquid assets or underprovision of liquidity. We investigate whether imperfect competition (Cournot) improves welfare through internalizing the externality and find that this is far...
Persistent link: https://www.econbiz.de/10011806238
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Credit risk transfer and de facto GSE reform
Finkelstein, David L.; Strzodka, Andreas; Vickery, James - 2018
We summarize and evaluate Fannie Mae and Freddie Mac's credit risk transfer (CRT) programs, which have been used since 2013 to shift a portion of credit risk on more than $1.8 trillion of mortgages to private sector investors. We argue that the CRT programs have been successful in reducing the...
Persistent link: https://www.econbiz.de/10011806244
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Is size everything?
Antill, Samuel; Sarkar, Asani - 2018
time series and the cross section. TSIZE-implied subsidies increase around the bailout of Continental Illinois in 1984 and …
Persistent link: https://www.econbiz.de/10011894404
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Resolving troubled systemically important cross-border financial institutions : is a new corporate organizational form required?
Cumming, Christine M.; Eisenbeis, Robert A. - 2010
firm incentives in a post-reform financial system. -- Financial regulatory reform ; corporate governance ; bank charter … ; bank insolvency …
Persistent link: https://www.econbiz.de/10008657240
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The effect of bank monitoring on loan repayment
Branzoli, Nicola; Fringuellotti, Fulvia - 2020
bank monitoring based on banks' requests for information on their existing borrowers and we investigate the effect of bank … exogenous variation in bank monitoring. Our identification strategy is supported by a theoretical model predicting that a … decrease in the tax rate improves bank incentives to monitor borrowers by increasing returns from lending. We find that bank …
Persistent link: https://www.econbiz.de/10012224299
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How do global banks scramble for liquidity? : evidence from the asset-backed commercial paper freeze of 2007
Acharya, Viral V.; Afonso, Gara; Kovner, Anna - 2013
In August of 2007, banks faced a freeze in funding liquidity from the asset-backed commercial paper (ABCP) market. We investigate how banks scrambled for liquidity in response to this freeze and its implications for corporate borrowing. Commercial banks in the United States raised deposits and...
Persistent link: https://www.econbiz.de/10009781869
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Shadow bank monitoring
Adrian, Tobias; Ashcraft, Adam B.; Cetorelli, Nicola - 2013
inherently fragile. Shadow banking activities are often intertwined with core regulated institutions such as bank holding …
Persistent link: https://www.econbiz.de/10010201287
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Global liquidity : drivers, volatility and toolkits
Goldberg, Linda S. - 2023
Global liquidity refers to the volumes of financial flows—largely intermediated through global banks and non-bank … regulatory agendas related to non-bank financial institutions. …
Persistent link: https://www.econbiz.de/10014302919
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Regulatory changes and the cost of capital for banks
Kovner, Anna; Van Tassel, Peter - 2018
We estimate the cost of capital for the banking industry and find that while the cost of capital soared for banks in the financial crisis, after the passage of the Dodd-Frank Act, the value-weighted cost of capital for banks fell differentially more than did the cost of capital for nonbanks. The...
Persistent link: https://www.econbiz.de/10011868475