needs withdraw their deposits early and are not willing to re finance a bank. Early withdrawals curtail excessive bank … lending and thereby commit a bank to monitoring. In contrast, banks with coupon bonds can refi nance in the interim stage and … expand on risky lending, which derails monitoring. This finding speaks against the separation of bank lending and deposit …

German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank … heterogeneity depending on banks' governance structures. The announcement of a state guarantee for bank deposits following the …

German savers are renowned for preferring safe, long-term investments, thus providing patient capital, with bank … high degree of heterogeneity depending on banks' governance structures. The announcement of a state guarantee for bank …