A number of countries' authorities put in place bank rescue packages using public funds in response to the global financial crisis. Were these public recapitalizations followed by a reduction of risk in banks' loan books? To answer this question, in this paper the balance sheets and syndicated...

The unique structure of syndicated lending results in information asymmetries within the lending syndicate between banks of varying degrees of seniority. While previous studies have attempted to use indirect proxy measures to capture the effects of such information asymmetries, in this paper we...

The syndicated loan market allows a more efficient geographical and institutional sharing of risk. Large US and European banks originate loans for emerging market borrowers and allocate them to local banks. Euro area banks have expanded pan-European lending and have found funding outside the...