Using a novel cross-European dataset on bank internationalization, the paper accounts for both organizational and geographic complexity and evaluates its impact on systemic risk and how both the 2008–09 global financial crisis and the 2010–11 European sovereign debt crisis might have...

This paper investigates the complementarity between the different macroprudential policies to contain bank systemic risk. We use a newly updated version of the IMF survey on Global Macroprudential Policy Instruments (GMPI). By disentangling the aggregate macroprudential policy index, we assess...

We study the role of climate risk exposure in the dynamic behavior of banks’ regulatory capital adjustment using a large European sample from 39 countries during the 2006–2021 period. We find that banks facing high exposure to climate risk opt for higher target (regulatory) capital adequacy...

Using bank board-level data and unique director work experience records from a large sample of publicly-listed U.S. banks, we examine (i) whether cognitively concentrated or diverse board align banks’ risk-taking preferences with those of regulators in terms of capital adequacy, and (ii) the...