international subsidiary locations and risk of U.S. bank holding companies (BHCs). We find that U.S. BHCs are more likely to operate …This study investigates the implications of cross-country differences in banking regulation and supervision for the … subsidiaries in countries with weaker regulation and supervision and that such location decisions are associated with elevated BHC …

The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility … provides evidence about the uses of these funds by their bank and thrift members. We then identify the trade-offs faced by FHLB … the respective roles of the various liquidity facilities would be helpful. …

The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility … provide evidence on the uses of these funds by the System's bank and thrift members. Next, we identify the trade-offs faced by … about the respective roles of the various liquidity facilities would be helpful. …

This paper examines the role of the Federal Home Loan Bank (FHLB) System in the U.S. housing finance system. This … System as a provider of subsidized general liquidity to its members, including the very largest commercial banking …

This paper provides the first empirical evidence that bank regulation is associated with cross-border spillover effects … different localities across 16 countries. We find that lower barriers to entry, tighter restrictions on bank activities, and … higher minimum capital requirements in domestic markets are associated with lower bank lending standards abroad. The effects …

Stress testing has recently become a critical risk management and capital planning tool for large financial … requirements was a spectacular failure: the Office of Federal Housing Enterprise Oversight's (OFHEO) risk-based capital stress test …

We develop a model in which financial intermediaries hold liquidity to protect themselves from shocks. Depending on … parameter values, banks may choose to hold too much or too little liquidity on aggregate compared with the socially optimal … underinsurance against liquidity choice. The model therefore provides a unified framework for thinking, on the one hand, about policy …

supervisory stress testing may confer substantial benefits, such tests are vulnerable to model risk. This paper studies the risk … identify the sources of the stress test's spectacular failure to detect the growing risk and ultimate financial distress at …

We study recent changes in the geographic distances between small businesses and their bank lenders, using a large …