characteristics. Estimates demonstrate that more authority delegated has a positive effect on quantitative measures of bank … quantitative and qualitative performance characteristics. While the local bank branch is able to increase loan generation when more …

are regulated, including the need to obtain a charter to operate and explicit and implicit federal guarantees of bank … liabilities to reduce the probability of bank runs. These aspects of banking affect a bank's choice of risk vs. expected return …, which, in turn, affects bank performance. Banks have an incentive to reduce risk to protect the valuable charter from …