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Rollover risk and the maturity transformation function of banks
Paligorova, Teodora; Santos, João A. C. - 2014
This paper shows that banks that rely heavily on short-term funding engage less in maturity transformation in an attempt to decrease their exposure to rollover risk. These banks shorten both the maturity of their portfolio of loans as well as the maturity of newly issued loans. We find that the...
Persistent link: https://www.econbiz.de/10010254340
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Bank Corporate Loan Pricing Following the Subprime Crisis
Santos, João A. C. - 2010
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 …
Persistent link: https://www.econbiz.de/10013135161
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The Rise of the Originate-to-Distribute Model and the Role of Banks in Financial Intermediation
Bord, Vitaly - 2012
To what extent have U.S. banks adopted the originate-to-distribute model in their corporate lending business? According to our findings, banks have increasingly used the originate-to-distribute model in their term-loan business since the early 1990s. However, they have continued to rely on the...
Persistent link: https://www.econbiz.de/10013100522
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Do Banks Propagate Debt Market Shocks?
Hale, Galina - 2010
Over the years, U.S. banks have increasingly relied on the bond market to finance their business. This created the potential for a link between the bond market and the corporate sector whereby borrowers, including those that do not rely on bond funding, became exposed to the conditions in the...
Persistent link: https://www.econbiz.de/10013150609
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Bank Corporate Loan Pricing Following the Subprime Crisis
Santos, João A. C. - 2009
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 …
Persistent link: https://www.econbiz.de/10013157668
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The Cost of Bank Regulatory Capital
Plosser, Matthew C. - 2020
The Basel I Accord introduced a discontinuity in required capital for undrawn credit commitments. While banks had to set aside capital when they extended commitments with maturities in excess of one year, short-term commitments were not subject to a capital requirement. We use this difference to...
Persistent link: https://www.econbiz.de/10012839743
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Banks' Liquidity and the Cost of Liquidity to Corporations
Bord, Vitaly - 2018
corporations. We find that banks that borrowed more from the Federal Home Loan Bank system or the Fed's discount window following …
Persistent link: https://www.econbiz.de/10012940389
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Banks' Exposure to Rollover Risk and the Maturity of Corporate Loans
Paligorova, Teodora - 2016
decline in loan maturity is bank driven. In line with this premise, we find that the slope of the loan yield curve becomes …
Persistent link: https://www.econbiz.de/10013006666
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Do 'Too-Big-To-Fail' Banks Take on More Risk?
Afonso, Gara - 2014
the average bank. The authors show similar effects on net charge-offs and for U.S. banks only …
Persistent link: https://www.econbiz.de/10013055917
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Evidence from the Bond Market on Banks' 'Too-Big-To-Fail' Subsidy
Santos, João A. C. - 2014
Using information from bonds issued over the past twenty years, this study finds that the largest banks have a cost advantage vis-à-vis their smaller peers. This cost advantage may not be entirely due to investors' belief that the largest banks are “too big to fail” because the study also...
Persistent link: https://www.econbiz.de/10013056020