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"It's the end of bank branching as we know it (and we feel fine)"

Keil, Jan; Ongena, Steven - 2020

Banks are closing branches at an unprecedented rate. In various countries up to four out of five branches have been … closed, while in the US over 11,000 branches representing eleven percent o its peak stock in 2009 have been closed so far. To … 34 OECD countries and 84,494 US branches over up to 26 years. While technological factors correlate with the change in …

Persistent link: https://www.econbiz.de/10012419399

Climate change and firm valuation : evidence from a quasi-natural experiment

Krüger, Philipp - 2015

In this paper, I estimate the effect of mandatory greenhouse gas (GHG) emissions disclosure on corporate value. Using the introduction of mandatory GHG emissions reporting for firms listed on the Main Market of the London Stock Exchange as a source of exogenous variation, I find that firms most...

Persistent link: https://www.econbiz.de/10011412402

The perennial challenge to abolish too-big-to-fail in banking : empirical evidence from the new international regulation dealing with global systemically important banks

Moenninghoff, Sebastian C.; Ongena, Steven; Wieandt, Axel - 2014

This paper provides evidence on how the new international regulation on Global Systemically Important Banks (G-SIBs) impacts the market value of large banks. We analyze the stock price reactions for the 300 largest banks from 52 countries across 12 relevant regulatory announcement and...

Persistent link: https://www.econbiz.de/10010412297

The determinants of banks' lobbying activities

Gibson, Rajna; Padovani, Miret - 2011 - Draft version: November 21, 2011

In this paper, we examine the relationship between banks lobbying activities, their size, financial strength, and sources of income. First, we find that banks are more likely to lobby when they are larger, have more vulnerable balance sheets, are less creditworthy, and have more diversified...

Persistent link: https://www.econbiz.de/10009554551

Bank capital regulation with an opportunistic rating agency

Efing, Matthias - 2012

This paper models the strategic interaction between a rating agency, a banking sector and a bank regulator who lacks information about bank asset risk. The regulator can either (1) make bank capital requirements contingent on credit ratings; or (2) set rating independent capital requirements....

Persistent link: https://www.econbiz.de/10009558367

Aggregate investment externalities and macroprudential regulation

Gersbach, Hans; Rochet, Jean-Charles - 2012

Evidence suggests that banks tend to lend a lot during booms, and very little during recessions. We propose a simple explanation for this phenomenon. We show that, instead of dampening productivity shocks, the banking sector tends to exacerbate them, leading to excessive fluctuations of credit,...

Persistent link: https://www.econbiz.de/10009558435

The shadow cost of repos and bank liability structure

Klimenko, Nataliya; Moreno-Bromberg, Santiago - 2015

Making use of a structural model that allows for optimal liquidity management, we study the role that repos play in a bank's financing structure. In our model the bank's assets consist of illiquid loans and liquid reserves and are financed by a combination of repos, long–term debt, deposits...

Persistent link: https://www.econbiz.de/10011293473

Bank capital, liquid reserves, and insolvency risk

Hugonnier, Julien; Morellec, Erwan - 2015

We develop a dynamic model of banking to assess the effects of liquidity and leverage requirements on banks' insolvency risk. In this model, banks face taxation, flotation costs of securities, and default costs and maximize shareholder value by making their financing, liquid asset holdings, and...

Persistent link: https://www.econbiz.de/10011293576

Arbitraging the Basel Securitization Framework : evidence from German ABS investment

Efing, Matthias - 2014

If regulation fails to differentiate between priced and idiosyncratic risk, it incentivizes investors to reach for yield. Studying securitization exposures on the balance sheets of German banks, I show evidence consistent with this prediction. Banks with tight regulatory constraints (low capital...

Persistent link: https://www.econbiz.de/10011293796

Measuring the capital shortfall of large U.S. banks

Jondeau, Eric; Khalilzadeh, Amir - 2018

We develop a methodology to measure the capital shortfall of commercial banks in a market downturn, which we call stressed expected loss (SEL). We simulate a market downturn as a negative shock on interest rate and credit market risk factors that reflect the banks' market-sensitive assets. We...

Persistent link: https://www.econbiz.de/10011877252