The extant literature suggests that one of the main causes of the recent financial crisis has been the excessive use of short-term debt by banks [Gorton and Metrick (2012a, b)]. Using a large sample of banks we find that increases in repurchase agreements (repos) was recognized by external...

This paper approximates a construction of Basel III's Liquidity Coverage Ratio (LCR) for U.S. bank holding companies. This study examines: (i) the LCR's marginal contribution to a firm's systemic risk and, (ii) whether the LCR can predict ex ante which banks are most exposed to systemic losses...