vary substantially across studies. In this paper, we aim for a comprehensive empirical analysis of a bank merger's impact … for the rigidity of the deposit rates and for a range of merger, bank and local market features. An innovation of our work … impact of bank mergers on deposit rates. In particular, results on the dynamics of deposit rates surrounding bank mergers …

We use the term structure of bank CD rates to examine whether maturity-transformation risk is priced into the rates … banks offer customers. We find that depositors pay a significant cost for the liquidity provided by bank deposits. This cost …