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Jackson, Patricia; Davies, Howard; Miles, David; … - SUERF Conference on Banking Reform <2015, London>; … - 2016

On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...

Persistent link: https://www.econbiz.de/10011554963

Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation, Capital Structure, and the Low Risk Anomaly

Baker, Malcolm P. - 2015

Traditional capital structure theory predicts that reducing banks' leverage reduces the risk and cost of equity but does not change the weighted average cost of capital, and thus the rates for borrowers. We confirm that the equity of better-capitalized banks has lower beta and idiosyncratic...

Persistent link: https://www.econbiz.de/10013026425

Regulatory changes and the cost of capital for banks

Kovner, Anna; Van Tassel, Peter - 2018

We estimate the cost of capital for the banking industry and find that while the cost of capital soared for banks in the financial crisis, after the passage of the Dodd-Frank Act, the value-weighted cost of capital for banks fell differentially more than did the cost of capital for nonbanks. The...

Persistent link: https://www.econbiz.de/10011868475

Would Stricter Capital Requirements Raise the Cost of Capital? Bank Capital Regulation and the Low Risk Anomaly

Baker, Malcolm P. - 2013

per year. In competitive lending markets, a change of this magnitude would have doubled or tripled spreads, because bank …

Persistent link: https://www.econbiz.de/10013085095

Equity versus bail-in debt in banking : an agency perspective

Mendicino, Caterina; Nikolov, Kalin; Suárez, Javier - 2017

We examine the optimal size and composition of banks' total loss absorbing capacity (TLAC). Optimal size is driven by the trade-off between providing liquidity services through deposits and minimizing deadweight default costs. Optimal composition (equity vs. bail-in debt) is driven by the...

Persistent link: https://www.econbiz.de/10011978192

Modigliani-Miller doesn't hold in a "bailinable" world: : a new capital structure to reduce the banks' funding cost

Baglioni, Angelo; Esposito, Marcello - 2016

, a bank is able to reduce the cost of debt by splitting it into a junior and a senior tranche, sold to institutional and …

Persistent link: https://www.econbiz.de/10011776152

Cost of Equity, Enterprise Value and Capital Regulation of Banking Firms

Masera, Rainer - 2013

must be carefully analysed before endorsing the general statement that “bank equity is not expensive”. In fact, specific … argue that market prices (notably price-to-book ratios) should play a primary role in bank supervision. To support our …-shifting phenomena on banks' assets, notably when price-to-book values are below one, may increase the overall risk of the bank, and …

Persistent link: https://www.econbiz.de/10013089413

Regulation and risk shuffling in bank securities portfolios

Fuster, Andreas; Vickery, James - 2018

Bank capital requirements are based on a mix of market values and book values. We investigate the effects of a policy … banking organizations. Our analysis is based on security-level data on individual bank portfolios matched to bond …

Persistent link: https://www.econbiz.de/10011868435

The SSM at 1

Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016

Persistent link: https://www.econbiz.de/10011557140

Bank capital regulation in a zero interest environment

Döttling, Robin - 2018

How do near-zero interest rates affect bank competition, risk taking and regulation? I study these questions in a … insurance may induce excessive risk taking. The zero lower bound on deposit rates (ZLB) distorts bank competition and boosts …

Persistent link: https://www.econbiz.de/10011801359

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