find that the introduction of free banking laws stimulated the creation of new banks and led to more bank failures. Our …

regulatory balance sheet data for U.S. commercial banks and repo market data for broker-dealers. Even for moderate shocks in … normal times, fire-sale externalities can be substantial. For commercial banks, a 1 percent exogenous shock to assets in 2013 … but shows a notable increase starting in 2004, ahead of many other systemic risk indicators. Although the largest banks …

In this paper we study systemic risk for the US and Europe. We show that banks' exposures to common risk factors are … crucial for systemic risk. We come to this conclusion by first showing that relations between US and European banks are … smaller than within each region. We then show that European banks react more strongly to the onset of the financial crisis …

regulatory equity and the increasing reliance on banks’ internal risk models for the determination of risk weights. The first …

We develop a model of the joint capital structure decisions of banks and their borrowers. Strikingly high bank leverage … that highly levered financial intermediaries can offer the lowest interest rates. Low asset volatility enables banks to … borrowers, which can paradoxically lead to riskier banks. Doubling current capital requirements would reduce the default risk of …

structures in banks. …

need arises. The paper also calls for the development of new governance architecture for banks and corporations in order to …

Brothers demise to help banks retain access to wholesale funding. We describe the evolution and the pattern of bond issuance … new market, namely the significant “tiering” of the spreads paid by banks at issuance, finding that they mainly reflect …

in passing FIRREA and economically suboptimal. Misinterpreting FIRREA to permit negligent management of banks will create …