in banks' dollar hedging costs. For identification, we exploit regulatory end-of-quarter reporting that penalizes banks … derivatives markets. …

in banks' dollar hedging costs. For identification, we exploit regulatory end-of-quarter reporting that penalizes banks … derivatives markets …

conjunction with supervisory balance sheet information to study the drivers of banks' dollar hedging costs. Comparing contracts of … the same maturity that are initiated during the same hour of the same day, we find large heterogeneity in banks' hedging … are important for understanding how shocks are transmitted internationally through the FX hedging market. …

compliance with the interest rate risk regulation. Although hedging motives dominate, we find selective hedging behavior in swap …

the interest rate risk regulation. Although hedging motives dominate, we find selective hedging behavior in swap use …

inside debt holdings have a positive effect on the extent to which a bank uses interest rate derivatives for hedging purposes …

This study examines the relation between bank equity ownership and corporate hedging in Japan, an economy where banks … ownership is positively related to the corporate usage of derivatives. We also find very little evidence that firm …-level financial constraints affect derivatives usage. We further analyze the relation between derivatives usage and firm value to …