This paper empirically investigates banks' investment allocations over the recent business cycle. I identify … unsolicited deposit shocks resulting from unconventional energy development and estimate bank allocations of these deposits. In … the pre-recession period, banks lend 38 percent of incremental deposits; however, during the downturn, banks favor liquid …

foundation for a funding liquidity channel in a global banking model where exchange rates fluctuate as a function of banks …

more lax lending policies than banks, we unveil important evidence that nonbanks increased bank borrowing following the … lending. We find that the guidance primarily impacted large, closely supervised banks, but only after supervisors issued … issuance of guidance, possibly to finance their growing leveraged lending. The guidance was effective at reducing banks …

the bank sector is highly procyclical, the leverage of the nonbank financial sector is acyclical. We propose a theory of a … two-agent financial intermediary sector within a dynamic model of the macroeconomy. Banks are financed by issuing risky … financialsector assets. The procyclicality of the banking sector is due to its risk-based funding constraints, which give a central …

. The complex bank holding companies of today are the best example of hybrid intermediaries, but I argue that financial … become significant intermediaries and that turned into bank holding companies post-Lehman are, from an organizational …

The Basel I Accord introduced a discontinuity in required capital for undrawn credit commitments. While banks had to … of bank regulatory capital. Our results show that following Basel I, undrawn fees and all-in-drawn credit spreads on …, both undrawn fees and spreads went up. These results are robust and confirm that banks act to conserve regulatory capital …

firm incentives in a post-reform financial system. -- Financial regulatory reform ; corporate governance ; bank charter … ; bank insolvency …

-based financial intermediaries such as the Wall Street investment banks, as well as the commercial bank subsidiaries of the large U … equity that behaves like the predetermined variable, and the asset size of the bank or financial intermediary is determined … nonpecuniary benefits to bank owners so that they are reluctant to raise new equity, even during boom periods when raising equity …