Banking crises are recurrent phenomena, often induced by ex-ante excessive bank risk-taking, which may be due to … behavioral reasons (over-optimistic banks neglecting risks) and to agency problems between bank shareholders with debt …-holders and taxpayers (banks understand high risk-taking). We test whether US banks' stock returns in the 2007-08 crisis are …

the 26 largest euro area banking groups. Banks with more customer deposits are negatively affected by negative rates, as …We show that negative monetary policy rates induce systemic banks to reach-for-yield. For identification, we exploit … higher returns. Effects are stronger for less capitalized banks, private sector (financial and non-financial) securities and …

We analyse the effects of supranational versus national banking supervision on credit supply, and its interactions with … institutional change leading to the centralisation of European banking supervision; (iii) high-frequency monetary policy surprises … supervision is stronger for banks operating in stressed countries. Exploiting heterogeneity across banks, we find that the …