(PIPEs), and TARP. Equity markets were important for bank recapitalization in the crisis, when SEO and PIPE issuance peaked …. We find that bank characteristics predict issuance whereas trading indicators influence issuance type. Large, well … selective. Bank illiquidity was another incentive to issue. Banks with lower trading activity and wider spreads were more likely …

financial crisis of 2007–2009, two important issues require further attention. First, although bank capital ratios have been … system. Second, bank liquidity requirements may have become too complex and could also have unintented and unpredictable … interaction effects with bank capital requirements. …