bank funding costs. We show that credit supply is dampened by the associated debt-overhang cost to bank shareholders. Until …Corporate credit lines are drawn more heavily when funding markets are more stressed. This covariance elevates expected … 2022, this impact was reduced by linking the interest paid on lines to credit-sensitive reference rates such as LIBOR. We …

conclude by discussing the increasing extension of bank credit lines to non-bank financial intermediaries, as well as the role …Over the past two decades, banks have increasingly focused on offering contingent credit in the form of credit lines as …' provision of liquidity insurance in the form of credit lines, their significance in managing corporate liquidity, and the …

We use the 2020 Small Business Credit Survey to study the sources of racial disparities in use of the Paycheck … bank approval disparity is also larger in more racially biased counties. We conclude that insofar as automation by fintechs …

's exports to markets where the lender specializes in. Thus, bank market-specific specialization makes credit difficult to …We develop an empirical approach for identifying specialization in bank lending using granular data on borrower … activities. We illustrate the approach by characterizing bank specialization by export market, combining bank, loan, and export …

Studies of intermediated arbitrage argue that bank balance sheets are an important consideration, yet little evidence …

Bank branch density, defined as the number of bank branches to total deposits, has significantly declined over the past …

Does emergency credit prevent long-term financial distress? We study the causal effects of government-provided recovery … bankruptcy, increase employment and revenue, unlock private credit, and reduce delinquency. These effects, especially the … crowding-in of private credit, appear to reflect resolving uncertainty about repair. We do not find capital reallocation away …

alternative credit from banks, effectively shutting them out of the market. The cap had a permanent impact on the small loan … borrowers from predatory lending but can eliminate necessary credit options for vulnerable populations …

the fall in the overall share of informationally sensitive bank lending in credit intermediation. We conclude by examining … pronounced in the later period due to the reduced role of bank balance sheets in credit intermediation. The substitution of bank …The traditional model of bank-led financial intermediation, where banks issue demandable deposits to savers and make …

Our research examines the impact of dwindling community bank numbers on community investment and economic development …) originations. Key factors include the local presence of other community banks and the continuity of the consolidating bank …'s presence. Interestingly, the effect remains neutral in underserved or distressed counties and diminishes when a large bank …