We report the wealth effects among banks in the United States, Japan, Canada, and the United Kingdom in reaction to public announcements concerning their respective national implementation of the 1988 Basle Accord, an international risk-based capital regulatory agreement. Previous survey...

Previous studies argue that U.S. interest rates will become more sensitive to changes in eurodollar rates as international financial-market integration increases. However, the empirical results of these studies are suspect because they select their subperiods in an ad hoc manner and ignore the...

This paper confirms that adopting explicit deposit insurance expanded risk-shifting incentives for Canadian Banks and Trust Companies. By transferring responsibility for monitoring non-systematic risk to the Canadian Deposit Insurance Corporation (CDIC), deposit insurance eliminated the...