We provide evidence that banks classify securities as held to maturity (HTM) rather than available for sale (AFS) when HTM classification provides preferred financial accounting and regulatory capital treatments, not because they have a distinct economically motivated intent and ability to hold...

Starting in March 2023, depositor runs quickly led to the failures of Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank. In the wake of higher interest rates, uninsured depositors of these banks had lost confidence in their business model of taking in deposits and investing the...

Appendix available here: "https://ssrn.com/abstract=3312275" https://ssrn.com/abstract=3312275.We examine economic consequences of US bank regulators' phased removal of the prudential filter for accumulated other comprehensive income for advanced approaches banks beginning on January 1, 2014....

We examine how a change in statutory accounting rules that reduces U.S. life insurers’ regulatory capital leads them to manage their capital, as well as real effects of this management in the insurance product market. Effective at the end of 2009, Actuarial Guideline 43 (AG 43) increases...