88 research outputs found
A reconsideration of the risk sensitivity of U.S. banking organization subordinated debt spreads: a sample selection approach
The authors estimate a sample selection model over three distinct regulatory "regimes" when the treatment of bank bondholders (in the event of bank failures) differed substantially. They then estimate their selection model to test the strength of bond market discipline over these three regulatory regimes, finding that bank bond spreads are positively associated with bank risk measures during all three regimes, even during the too-big-to-fail period.Bank assets ; Debt management ; Banks and banking - Ratio analysis ; Deposit insurance
The Evolution of a Financial Crisis: Collapse of the Asset-Backed Commercial Paper Market
This paper documents “runs on asset-backed commercial paper (ABCP) programs in 2007
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