We analyze the risk premium on bank bonds at origination with a special focus on the role of implicit and explicit …

I study the prevalence and profitability of regulatory arbitrage in U.S. banks foreign activities. I analyze a publicly … available bank-level dataset on bilateral lending flows to 75 countries over 2003-2013. U.S. banks lend less to borrowers in … host countries with stricter bank regulations, and are less likely to maintain affiliates in such countries. Banks …

rule limits arbitrage opportunities by restricting associated interest expense deductions. Prior to 1986, U.S. banks were … absence of a tax benefit from arbitrage appears not only in observed bond yields, but also in banks' considerable unused …