We construct an empirical measure of expected network spillovers that arise through default cascades for the U … firms that comprises all bank holding companies, all broker-dealers, and all insurance companies, and consider their entire …

-wide nonperforming loans and numbers of bank failures. We conclude that micro- and macro-prudential measures of bank condition are useful …

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …

contributes to the current debate on the optimal scope of bank activities, and highlights novel channels through which …

other balance sheet information. Using a sample of 95 U.S. bank holding companies from 2002 to 2011, we compare five …

to individual banks in the Merton tradition (1974) as a combination put option for the deep tail of bank losses and a … knock-in stop-loss call on bank assets. This model expresses the value of taxpayer loss exposure from a string of defaults … the face value of the debt of the entire sector. We conceive of an individual bank's systemic risk as its contribution to …

In this paper, we use three measures that arguably capture two dimensions of “bank systemic risk”, namely, (1) bank … funding maturity and (2) bank asset commonality, to empirically test whether bank systemic risk has a positive effect on … corporate investment. We document that in a sample of publicly listed firms in the United States over the period 1991-2013, bank …

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …