"This paper is the first to study the effect of financial restatement on bank loan contracting. Compared with loans initiated before restatement, loans initiated after restatement have significantly higher spreads, shorter maturities, higher likelihood of being secured, and more covenant...

This paper is the first to study the effect of financial restatement on bank loan contracting. Compared with loans initiated before restatement, loans initiated after restatement have significantly higher spreads, shorter maturities, higher likelihood of being secured, and more covenant...

Although regulatory and legal investigations have found that Libor was misreported by some banks during the financial crisis, there is limited evidence of how well Libor overall represented bank funding conditions during this period. We compare the survey-based Libor to several alternative...