We analyze bank supply of credit under the Paycheck Protection Program (PPP). The literature emphasizes relationships … supply reflects traditional measures of relationship lending: decreasing in bank size; increasing in prior experience, in … commitment lending, and in core deposits. Our results suggest a new benefit of bank relationships, as they help firms access …

Using exogenous deposit windfalls from oil and natural gas shale discoveries, we demonstrate that bank branch networks …

-shock bank capital, explain why banks were able to accommodate these liquidity demands …