Informational economies of scope between lending and underwriting are a mixed blessing for universal banks. While they … sword for universal banks. It helps to compete against specialized investment banks, but it can reduce the rent to be earned … in investment banking when universal banks compete against each other. We derive several empirical predictions regarding …

constant, rated firms increase their leverage in takeover transactions by less than their unrated counterparts. Consistent with …

Informational economies of scope between lending and underwriting are a mixed blessing for universal banks. While they … sword for universal banks. It helps to compete against specialized investment banks, but it can reduce the rent to be earned … in investment banking when universal banks compete against each other. We derive several empirical predictions regarding …

swift and massive liquidity provision by central banks in the wake of both crises is, at least partly, to be credited to … previous research on the role of central banks as lenders of last resort in crises and on the real effects of bank lending and …Has economic research been helpful in dealing with the financial crises of the early 2000s? On the whole, the answer is …

indicators to determine banks' capital shortfall, such as book and market leverage ratios. …. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and … fiscal distress, and inquires how the regulation of banks' sovereign exposures in the euro area should be changed to mitigate …

funds system, households limit banks' leverage ratios when providing deposits to make sure they have enough "skin in the …. With a suitable regulatory leverage constraint, the gains from higher lending by banks with a high repayment pledgeability … with banks as intermediaries of loanable funds. The latter system could result when CBDCs are introduced. In the loanable …