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Regulatory discretion and banks' pursuit of "safety in similarity"
Stever, Ryan (Avtor), Wilcox, James A. (Avtor)

URLURL - Predstavitvena datoteka, za dostop obiščite http://www.bis.org/publ/work235.pdf Novo okno

Izvleček
We propose that individual banks' reported loan losses and provisions for future loan losses are lower, all else equal (including their own financial statements), when the banking industry is weaker. We further hypothesize that this option of underreporting charge-offs and provisions provides banks with incentives, when the banking industry is weaker, to cluster more, or to seek "safety in similarity." We provide evidence that large, individual U.S. banks indeed tend to report both lower charge-offs and lower provisions for loan losses, after controlling for their other determinants, when the banking industry is weaker. We also show that banks tend to be more clustered, or similar, when the industry is weaker. In addition, individual banks change their risk-taking to make it more similar to that of banking industry averages, and change it faster, when the industry is weaker. At the same time, in contrast to banks, we show that non-bank financial corporations show virtually no tendency to cluster more as their part of the financial sector weakens.

Jezik:Angleški jezik
Ključne besede:ZDA, bančništvo, banke, krediti, tveganje, izgube, kapital, preizkušanje domnev, USA, banking, banks, credit, risk, economic losses, capital, hypotheses testing
Vrsta gradiva:Delo ni kategorizirano (r6)
Organizacija:EF - Ekonomska fakulteta
Leto izida:2007
Založnik:Bank for International Settlements
Št. strani:VII, 29 str.
Kraj:Basel
UDK:336.71
COBISS.SI-ID:17636582 Povezava se odpre v novem oknu
Število ogledov:245
Število prenosov:80
Metapodatki:XML RDF-CHPDL DC-XML DC-RDF
 
Skupna ocena:(0 glasov)
Vaša ocena:Ocenjevanje je dovoljeno samo prijavljenim uporabnikom.
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