choices respond to predictions derived from the corporate finance theory and/or to capital regulation. We find that banks …This paper analyzes the financing choices of banks under capital regulation during the expansion period that preceded … the crisis. We use data from Dealogic on the issuances of financial instruments of Spanish banks to test whether financing …

analysis is relevant to the debate on bank capital regulation, and complements Admati et al. (2010). In that paper we argued … that subsidies that favor debt over equity are the key reason that banks funding costs would be lower if they economize on …, the effects of leverage reduction on bank managers or shareholders do not represent a social cost. In fact, we show that …

level of bank capital is. We use empirical evidence on UK banks to assess costs; we use data from shocks to incomes from a …This paper reports estimates of the long-run costs and benefits of banks funding more of their assets with loss … of the benefits from having banks use more equity no estimate of costs - however accurate - can tell us what the optimal …

important determinant of banks’ capital structures and that banks’ leverage converges to bank specific, time invariant targets. … the capital structure of large U.S. and European banks during 1991 to 2004. Instead, standard cross-sectional determinants … of non-financial firms’ leverage carry over to banks, except for banks whose capital ratio is close to the regulatory …

a large, unbalanced panel of German banks including 32,023 bank-year observations. We see an increase in the use of GBR …The German Commercial Code (HGB) allows banks to build visible reserves for general banking risks according to section …, for internal financing, signaling or earnings management purposes. We analyze financial statements of German banks for the …

enhances the incentives of banks to expand within Euroland. Yet, while the currency bias in bank portfolios will be eliminated … banks as providers of informational and of risk-diversification services. By eliminating exchange rate risks, the euro … on the risk taking of banks. …

I address the following issue in this paper: how does information sharing among banks about borrowers affect banks … sharing among banks reduces lenders' risk and results in lower lending rates than any other arrangement. This may be the … rates than any other form of information sharing under fairly general conditions. Despite its lucrative features, banks are …

We study the implications of the value at risk concept for the bank's optimum amount of equity capital under credit … managerial and market factors. Furthermore, the bank's equity and asset/liability management has to be addressed simultaneously … by bank managers. …

bank. The results suggest that capital requirements may only be of second-order importance for banks? capital structures … large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude …. Like non-financial firms, banks appear to have stable capital structures at levels that are specific to each individual …