the banks' trading revenues and help to explain the bank VaR performance results. While highly conservative in the pre …-crisis period, bank VaR exceedances were excessive and clustered in the crisis period. All benchmark VaRs were more accurate in the …-period market conditions. Despite their weaker performance, the bank VaRs exhibited greater predictive power for a measure of …

and led to bank restructuring and consolidation. This paper looks at firm access to credit in the region, focusing on the … role of credit market structure. Using firm-level data from theWorld Bank Enterprise Survey, we find that access to bank … likely to be financially constrained. We also find that a high degree of bank penetration and competition are significantly …

We analyze the effects on bank valuation of government policies aimed at shoring up banks' financial conditions during …/or guaranteed bank assets and liabilities. We employ event study methodology to estimate the impact of government …-intervention announcements on bank valuation. Using traditional approaches, announcements directed at the banking system as a whole were …

one-period probit model used by Cole and Gunther (1998). Using data on U.S. bank failures from 1985 – 1992, we find that …, from an econometric perspective, the hazard model is more accurate than the probit model in predicting bank failures, but … data from the 1980s performs surprisingly well in forecasting bank failures during 2009 – 2010. …