We use a novel granular dataset to demonstrate that banks’ market capital is a key determinant of the strength of the international risk-taking channel of US monetary policy. The impact of US monetary policy on international risk-taking is greater for banks with low market capital. The effect...

The BIS international banking statistics have evolved over time in response to changes in the international financial system. The latest enhancements to these statistics introduce information about banks' domestic business and add more details about the counterparties with which banks interact....

Contingent convertible capital instruments (CoCos) are hybrid capital securities that absorb losses when the capital of the issuing bank falls below a certain level. In this article, we go over the structure of CoCos, trace the evolution of their issuance, and examine their pricing in primary...