This paper is a review of fintech and its interaction with banking. Included in fintech are innovations in payment systems (including cryptocurrencies), credit markets (including P2P lending), and insurance, with blockchain-assisted smart contract playing a role. The paper provides a definition...

This paper shows that higher information technology (IT) adoption by banks led to a larger increase in corporate lending in the months following the COVID-19 outbreak in Italy. Examining banks with heterogeneous degrees of IT adoption, we investigate the dynamics of credit and its allocation...

Policy evaluation based on the estimation of dynamic stochastic general equilibrium models with aggregate macroeconomic time series rests on the assumption that a representative agent can be identified, whose behavioural parameters are independent of the policy rules. Building on earlier work by...

This Article is the first to analyze an unexplored but critical change in how modern banks are governed: the rise of lawyers as bank directors. That rise has been precipitous, raising the question of why lawyer-directors now sit on most bank boards. Using novel empirical evidence, we show that...

This paper is a review of the literature on fintech and its interaction with banking. Included in fintech are innovations in payment systems (including cryptocurrencies), credit markets (including P2P lending), and insurance, with blockchain-assisted smart contracts playing a role. The paper...

In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of banks. These two sectors are commonly viewed either as operating in parallel, performing different activities, or as substitutes, performing substantially similar activities, with...

The purpose of this paper, structured in three Sections, is twofold: (a) The first is to analyse the conditions under which a group of financial firms is considered to be a ‘financial conglomerate' in accordance with the (complex) definition of this term in Article 2 (point (14)) of the...

Risk culture is the engine to drive the entire enterprise risk management (ERM) program in any organization and, therefore, is of paramount importance to be a focus point.Australian Prudential Regulation Authority (APRA) has greatly focused on developing risk culture in banks and insurance...

We study the cross-sectional effects of Basel regulations on dealer intermediation in the U.S. corporate bond market. Using intra-quarter variation in the intensity of Basel regulatory requirements, we document pronounced inventory contractions when regulatory pressure rises near quarter-ends....