stressed credit markets and confirms their superior performance in explaining the behavior of Credit Default Swap rates for the …

This paper investigates the role of bank credit in predicting U.S. recessions since the 1960s in the context of a … bivariate probit model. A set of results emerge. First, credit booms are shown to have strong positive effects in predicting … declines in the business cycle at horizons ranging from six to nine months. Second, I propose to isolate the effect of credit …

importance of bank liquidity risk management as a motivation for loan sales, in addition to the credit risk transfer motive …We examine the impact of banks' liquidity risk management on secondary loan sales. We track the dynamics of bank loan … share ownership in the secondary market using data from the Shared National Credit Program, a credit register of syndicated …

The impact of U.S. bank loan announcements on the stock prices of the corporate borrowers has been decreasing during … jump back up to around 200 basis points. We surmise that in a booming credit market the certification of corporate …

reallocation of credit supply across financial institutions …

This paper explores the relationship between bank global exposure and their syndicated loan spreads. Linking syndicated … loan information from Dealscan with confidential US bank foreign exposure data and borrower characteristics, we find that … more bank global exposure is associated with a higher loan spread that is statistically significant. To analyze this …

the distribution of risk via credit supply. For identification, we exploit exhaustive US loan-level data since the 1990s …, borrowerlender relationships and Gertler-Karadi monetary policy shocks. Higher policy rates shift credit supply from banks to …, higher policy rates increase risk-taking, as less-regulated, fragile nonbanks -in all credit markets- expand supply to …