' information advantage facilitates price discovery in loan issuances. We find that the lead bank makes fewer adjustments to the …. A stronger relationship also reduces loan underpricing. A relationship lead bank relies less on information from … syndicate members. Exogenous shocks to relationships caused by bank mergers and closures confirm our findings. We contribute to …

banks had not previously faced. That is, they could invest bank capital in excess reserves and earn the "better than" risk … average large (small) bank. This paper highlights the importance of reserve premiums in credit and liquidity access for market …

lead bank's loan retention to explain this phenomenon. The bank partially adjusts the offer price for “hot” loans with … strong demand, resulting in underpricing to induce investors to reveal positive information. The bank retains “cold” loans … with weak demand and underprices them to compensate its retention cost. In equilibrium, the bank's retention of cold loans …

) are used as instruments of business policy and (3) are used by banks as a means of credit monitoring. If a bank decides to …

's reputation. Compared with individual lending, bank lending reduces search frictions, which increases the cost of credit exclusion …

bank makes fewer adjustments to the initial pricing terms of a syndicated loan and shortens the syndication time when it … bank relies less on information from syndicate members. Exogenous shocks to relationships caused by bank mergers and …

securitization is conducive to the optimal hedging of bank interest rate risk, with this being of particular relevance in the current … economic and monetary conditions. The empirical results reported in this work suggest that banks resorting to securitization do …

We propose a framework under which one can analyze bank's securitization program in terms of firm value, leverage, and … are used, in particular focusing on the bank's leverage and (2) formulate securitization in a unified way as a bank … liability, the shareholder maximizes the sum of dividend from the bank's asset securitization until possible insolvency time …