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Are universal banks better underwriters? : evidence from the last days of the Glass-Steagall Act

Focarelli, Dario; Marqués Ibáñez, David; Pozzolo, … - 2011

's restrictions. Securities underwritten by commercial banks' subsidiaries have a higher probability of default than those … gain market share and/or to the lower initial ability of these banks to correctly evaluate default risk. - Glass …-Steagall Act ; securities underwriting ; default ; investment banking …

Persistent link: https://www.econbiz.de/10008901496

Regulators' Irrational Rationality and Bankers' Rational Irrationality : Too Big to Fail, Self-Regulation, Moral Hazard and the Global Financial Crisis, 2007-2009

Umlauft, Thomas S. - 2018

Banks and other financial institutions which were too-big-to-fail (TBTF) played a central role during the Global Financial Crisis of 2007-2009. The present article lays out how misguided policies enabled banks to grow both in size as well as in complexity and therefore acquire TBTF status,...

Persistent link: https://www.econbiz.de/10012937724

Are Universal Banks Better Underwriters? Evidence from the Last Days of the Glass-Steagall Act

Focarelli, Dario - 2010

, securities underwritten by commercial banks' subsidiaries have a higher probability of default than those underwritten by …

Persistent link: https://www.econbiz.de/10013146617

Are Universal Banks Better Underwriters? Evidence From the Last Days of the Glass-Steagall Act

Focarelli, Dario; Marques-Ibanez, David; Pozzolo, Alberto F. - 2021

’s restrictions. Securities underwritten by commercial banks’ subsidiaries have a higher probability of default than those … gain market share and or to the lower initial ability of these banks to correctly evaluate default risk …

Persistent link: https://www.econbiz.de/10013316115

Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets

Mitchener, Kris James - 2012

This paper examines the impacts of banking market structure and regulation on economic growth using new data on banking market concentration and manufacturing industry-level growth rates for U.S. states during 1899-1929 — a period when the manufacturing sector was expanding rapidly and...

Persistent link: https://www.econbiz.de/10013115288

Origins of Too-Big-To-Fail Policy

Nurisso, George - 2017

This paper traces the origin of the too-big-to-fail problem in banking to the bailout of the $1.2 billion Bank of the Commonwealth in 1972. It describes this bailout and those of subsequent banks through that of Continental Illinois in 1984. Motivations behind the bailouts are described with a...

Persistent link: https://www.econbiz.de/10012955602

Stealing Deposits : Deposit Insurance, Risk-Taking and the Removal of Market Discipline in Early 20th Century Banks

Calomiris, Charles W. - 2018

Deposit insurance reduces liquidity risk but can increase insolvency risk by encouraging reckless behavior. Several U.S. states installed deposit insurance laws before the creation of the FDIC, and those laws only applied to some depository institutions within those states. These experiments...

Persistent link: https://www.econbiz.de/10012936427

The Paradoxical Genesis of Too-Big-To-Fail : How Distrust Towards Big Banks Led to TBTF

Umlauft, Thomas S. - 2015

The Global Financial Crisis of 2007-2009 put the spotlight on the problem of too-big-to-fail (TBTF). The research conducted in this context has, however, generally focused on the econometric aspect and the contribution of the TBTF doctrine to the financial crisis of 2007-2009, while the economic...

Persistent link: https://www.econbiz.de/10013034485

Signals and Stigmas from Banking Interventions : Lessons from the Bank Holiday in 1933

Jaremski, Matthew S.; Richardson, Gary; Vossmeyer, Angela - National Bureau of Economic Research - 2023

A nationwide banking panic forced President Franklin Roosevelt to declare a nationwide banking holiday immediately after his inauguration in March 1933. The government reopened sound banks sequentially, with some resuming operations sooner and others later. Within three weeks, 11,000 of the...

Persistent link: https://www.econbiz.de/10014248006

Structured finance influence on financial market stability : evaluation of current regulatory developments

Schütz, Sebastian A. - 2010

In 2007 the world faced one of the biggest financial crises ever. It was the third important financial crisis in the last 12 years. Spillovers to the real economy and moral hazard behaviour of carpetbaggers resulted in enormous pressure on worldwide political institutions to approve a more...

Persistent link: https://www.econbiz.de/10008695393

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