internal rivalry. Driven by deregulation and advances in information technologies, many historical institutional distinctions …

reflect contemporaneous information about bank riskin the United States and in Europe.2 In our study, we firstexamine the …-to-noise ratio ofsubordinated debt spreads should be quite low far away fromthe default point of the bank. We then summarise the …

bankingindustry. This goal is served by taking a broad view of thepayments business and analyzing information provided bylarge bank … now furnish material onsources of noninterest income and the amounts earned thatis much more detailed than the information … filed in regularreports to supervisors. This information is used to estimatethe size of the payments area.[...] …

length of time between bank examinations affects thequality of information available to supervisors. For thesepurposes, we … condition of a bank. Our analysisassumes that examination information incorporates twotypes of data: information available from … information that can be obtained onlythrough on-site examinations, such as confidential informationabout a bank’s troubled assets …