In the recent years the shadow banking system had moved into the focus of regulators. New regulatory approaches affected the overall appearance of financial markets. The G20 detected the shadow banking system as remaining issue for sound and efficient regulation to ensure a stable financial...

The Financial Sector Reforms Commission (FSLRC) which was set up in 2011 by the Ministry of Finance was mandated to study existing legislation and financial sector regulatory practices in India and to propose improvements. The FSLRC submitted its report in 2013 and four of its members recorded...

The last decade's boom and bust in U.S. commercial real estate (CRE) prices was at least as large as that in the housing market and also had a large effect on bank failures. Nevertheless, the role of CRE in the Great Recession has received little attention. This study estimates cohesive models...

The last decade's boom and bust in U.S. commercial real estate (CRE) prices was at least as large as that in the housing market and contributed significantly to bank failures. Nevertheless, the role of CRE in the Great Recession has received little attention. This study estimates cohesive models...

Bank capital is an important determinant of secondary market liquidity of loans that a bank originates and syndicates. Higher bank capital is associated with significantly narrower loan bid-ask spreads. This effect is stronger when banks are subject to more external financing frictions and...

The paper analyses how banks manage their capital position when they securitise, by focusing on the issuances sponsored by European banks before and after the financial crisis. Stylised facts suggest that, at the time of the crisis, European banks continued to issue structured products, but by...

Margin requirements for derivative contracts serve as a buffer against the transmission of losses through the financial system by protecting one party to a contract against default by the other party. However, if margin levels are proportional to volatility, then a spike in volatility leads to...

A sound financial regulatory framework is critical for minimizing the risk imposed by financial system fra­gility. In the world's emerging markets and developing economies (EMDEs), such regulation is also essential to support economic development and poverty reduc­tion. Meanwhile, it is...

We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register of syndicated loans, loan-time fixed-effects, and shocks to capital...

After a crisis, broad and sweeping reforms are enacted to restore trust. Following the 2007-2008 Great Financial Crisis, the European Union has engaged in an ambitious overhaul of banking regulation. One of its centerpieces, the 2013 Fourth Capital Requirements Directive (CRD IV), tackles,...