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The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt … overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to … non-financial private sector had been originated by shadow banks. Consequently, dampening credit creation by the …
Persistent link: https://www.econbiz.de/10012988632
We investigate benefits to business borrowers from bank bailouts – specifically the Troubled Asset Relief Program (TARP … – spread, amount, maturity, collateral, and covenants –suggesting increased credit supply to borrowers of bailed-out banks at … and policy debates on bank bailouts …
Persistent link: https://www.econbiz.de/10012969974
loan syndicates. While the purpose of TARP was to stimulate the flow of credit during the economic downturn, the low cost … of capital could have functioned as a double-edged sword by imprudently increasing lenders' credit risk-appetite. Our … documenting a greater share of lead arranger commitment during a period of time when credit monitoring was strengthened …
Persistent link: https://www.econbiz.de/10013012954
This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank … without such assets. The effect is driven by core banks increasing credit supply to riskier and less productive firms located …
Persistent link: https://www.econbiz.de/10013279271
This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank … without such assets. The effect is driven by core banks increasing credit supply to riskier and less productive firms located …
Persistent link: https://www.econbiz.de/10013336407
Systemically Important Banks (G-SIBs) on bank lending behaviour. Using a difference-in-differences estimation strategy, we find no … effect of the reforms on overall credit supply, while at the same time documenting a substantial decline in borrower- and …
Persistent link: https://www.econbiz.de/10012299026
Bank deregulation in the form of the repeal of the Glass-Steagall Act facilitated the entry of non-bank lenders into … the market for syndicated loans during the pre-2008 credit boom. Institutional investors disproportionately purchase … conventional view that regulatory arbitrage caused the rise of non-bank lenders. …
Persistent link: https://www.econbiz.de/10014533282
that enables the bank credit manufacturing process. In this way, all the banks become interdependent on the flow of … inter-bank clearing and credit arrangements provide this coordination at the inter-bank level, which is effectuated through … agents in the economy over time and space; they increase the money base through credit creation; they hold fractional …
Persistent link: https://www.econbiz.de/10012932483
Exploiting differential interstate branching deregulation across contiguous counties of adjacent states, we investigate the effect of entry threat on incumbent banks' loan loss provisions. Incumbents exposed to entry threat have offsetting incentives; lower provisions make their loan...
Persistent link: https://www.econbiz.de/10012974743
This paper studies the link between bank capital regulation, bank loan contracts and the allocation of corporate … resources across firms' different business lines. Credit risk is lower when firms write contracts that oblige them to invest …
Persistent link: https://www.econbiz.de/10013062253