special issue of the Review of Financial Studies dedicated to “The Value of Bank Capital and the Structure of the Banking … September 2006, which was jointly organized by the Federal Reserve Bank of New York, the Wharton Financial Institutions Center …

the returns on the bank's assets are going to be unusually low. In this paper we develop a simple model of this type of … panic. In this setting bank runs can be incentive-efficient: they allow more efficient risk sharing between depositors who … withdraw early and those who withdraw late and they allow banks to hold more efficient portfolios. Central bank intervention to …

five areas where new theories are needed. These are asset price bubbles, central bank checks and balances, global … imbalances, banking regulation, and competition in financial services. …

In this paper we study the intra-group transactions between the parent bank and its foreign subsidiaries in European … subsidiary banks were large by assets in some of the member states the related party transactions with the parent bank created a … subsidiaries. We suggest improvements in governance as well greater disclosure of related party transactions in bank holding …