challenge by comparing spreads on loans originated by the same bank, to the same firm, at the same origination date, but with …

informationally opaque and the lead bank retains a small loan share, suggesting some substitutability between participants' lending … experience and the lead bank's loan share. Another implication of our findings, which we confirm, is that participant banks do …

that incurred larger losses. These results hold after we control for firm-, bank-, and loan-specific factors, and account … for endogeneity of bank losses. These findings, together with our evidence that borrowers took out smaller loans during … the crisis when they borrowed from banks that incurred larger losses, lend support to the concerns about bank lending …

the loans they took out from the same bank prior to the crisis, after we control for firm-, bank-, and loan … bank-dependent borrowers by more than they did on their loans to borrowers that have access to the bond market. These … results are likely bank-driven because we derive them on a set of borrowers that took out loans both before and after the …

corporations. We find that banks that borrowed more from the Federal Home Loan Bank system or the Fed's discount window following …

decline in loan maturity is bank driven. In line with this premise, we find that the slope of the loan yield curve becomes …

between these vehicles and lead banks. CLOs that have a relationship with the lead bank of the renegotiated loan are strong … fund not only their portion of the loan increase, but also the portion that was supposed to be funded by the lead bank. Our … findings highlight the previously unrecognized role of the growing presence of non-bank lenders in corporate lending. …