risk factors, we separate the bank-specific selection and monitoring abilities from the composition of the loan portfolio …, on average, lower loan losses, (b) the loss rate of a given industry in a bank's loan portfolio is lower if the bank has …

bank issues covered bonds backed by a pool of assets that is bankruptcy remote and replenished following losses …. Encumbering assets allows a bank to raise cheap secured debt and expand profitable investment, but it also concentrates risk on …

similarity across banks while increasing credit diversification in different sectors helps to control systemic risk. The results …

income diversification and market concentration are related to bank stability. Firstly, we document that bank stability is … concentration modifies the link between revenue diversification and bank stability. Specifically, it is shown that diversified banks … robust to multiple regression specifications with different proxies for bank stability and income diversification. …