We study integration among a large sample of 1109 US banks over a quarter-century from 1990–2014. We define a bank's level of integration (measured in percentages) as the degree of dependence of its stock returns on common national banking factors. We show that the median US bank's integration...

To help curtail future sovereign exposures to banking losses, the European Union introduced the Bank Resolution and Recovery Directive, which mandates bail-in of creditors in the event of significant bank losses. In this paper, we examine the impact of resolution on subsidiary banks, notable in...

We define and construct 'integration' for a large sample of 2287 US banks-measured by their level of exposure to common factors-during the period 1993-2019. Integration among US banks shows a steady increase and displays significantly high peaks during episodes of market distress such as the...