We derive a measure of aggregate systemic risk, designated CATFIN, that complements bank-specific systemic risk measures by forecasting macroeconomic downturns six months into the future using out-of-sample tests conducted with US, European and Asian bank data. Consistent with bank...

In contrast to the literature involving U.S. bank lending domestically to U.S. firms, we find that affiliated U.S. banks' mutual funds do not increase their holdings of equity in non-U.S. borrowing firms around new loan initiations. Mutual funds affiliated with lending banks have less equity...

We derive a measure of aggregate systemic risk, designated CATFIN, that complements bank-specific systemic risk measures by forecasting macroeconomic downturns six months into the future using out-of-sample tests conducted with US, European and Asian bank data. Consistent with bank...