Banking

Unbundling Banking, Money, and Payments

For centuries, our systems of banking, money, and payments have been legally and institutionally intertwined.  The fact that these...

Securitization, Covered Bonds and the Risk Taking Behavior of European Banks

This study investigates the impact of securitization and the issuance of covered bonds on the credit risk taking behavior of banks. We collected data for...

'Glossy Green' Banks: The Disconnect Between Environmental Disclosures and Lending Activities

Using a credit registry of European banks’ new loan issuance and content analysis on their environmental disclosures, we show that banks that discuss...

The Political Economy of Bank- and Market Dominance

Corporate Governance of Banks after the Financial Crisis - Theory, Evidence, Reforms

Who Directs the Fed?

During the financial crisis, questions arose concerning links between the Federal Reserve and the business community. This paper provides the first...

The Effect of Creditor Rights on Bank Monitoring, Capital Structure and Risk-taking

We examine the multi-faceted effect of creditor rights on the way banks monitor, operate and finance themselves. We present a simple analytical model...

Decision-Making during the Crisis: Why did the Treasury let Commercial Banks fail?

Limited attention has been paid to the comparative fate of banks benefiting from TARP Capital Purchase Program (CPP) funding and less fortunate banks...

Post-Crisis Corporate Culture and Governance in Banking

This paper provides a brief assessment of how ethics, culture and corporate governance have evolved in banking since the financial crisis. It concludes...

When trust is not enough : Bank resolution, SPE, Ring-fencing and group support

This discussion paper investigates the differences existing between the Single Point of Entry and the Multiple Point of Entry resolution models and...

Bankers on the Boards of German Firms: What they do, what they are worth, and why they are (still) there

Bankruptcy's Financial Crisis Accelerator: The Derivatives Players' Priorities in Chapter 11