Annual Conference

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International Macroeconomics, Money & Banking

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May 2018

Banking Dynamics and Capital Regulations

Jose Victor RIOS-ROULL, Yaz TERAJIMA, Tamon TAKAMURA
This paper proposes a quantitative model of the banking sector to analyze potential aggregate impacts of the minimum capital requirements and counter-cyclical capital buffer in Basel III capital regulations. In the literature, an analysis on aggregate impacts of counter-cyclical capital buffer is li...
Keywords: Capital regulations, Banking sector, Credit Risk, bank loans
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Annual Conference

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International Macroeconomics, Money & Banking, Senior Fellows/Fellows

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May 2017

Bankers on Fed Boards: Is Good News for the Banks Bad News for the Fed?

Renee B. ADAMS
Bankers and non-bankers sit on Federal Reserve Bank Boards. In the case of banks, this may create a perception problem since the Fed supervises banks. I examine who sits on Reserve Bank boards and the market reaction to director appointments during the period 1990-2009. I document that Fed directors...
Keywords: Federal Reserve, Director, Banks, Conflicts of Interest, Reputation, Perception
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Annual Conference

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International Macroeconomics, Money & Banking

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May 2018

Bank Supply Shocks and Firm Investment: A Granular View from the Thai Credit Registry Data

Nasha ANANCHOTIKUL, Vorada LIMJAROENRAT
This paper attempts to link bank loan supply shocks to the real economic activity at the firm and aggregate level. We apply the methodology pioneered by Amiti and Weinstein (2017) to bank-firm credit registry dataset in Thailand for the period of 2004-2015. Loan growth dynamics of individual banks a...
Keywords: Bank supply shocks, Credit cycle, Bank relationships, Bank concentration, Granular shocks, Firm investment, Credit registry data, Thailand
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Annual Conference

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International Macroeconomics, Money & Banking

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May 2021

Bank Risk-Taking and Monetary Policy Transmission: Evidence from China

Xiaoming LI, Zheng LIU, Yuchao PENG, Zhiwei XU
We study the impact of China’s 2013 implementation of Basel III on bank risk-taking and its responses to monetary policy shocks using confidential loan-level data from a large Chinese bank. Guided by theory, we use a difference-in-difference identification, exploiting cross-sectional differences i...
Keywords: Bank risk taking, bank capital regulations, portfolio choices, Macroprudential Policy, monetary policy, capital reallocation, China
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Annual Conference

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Accounting, Senior Fellows/Fellows

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May 2017

Bank Monitoring and Corporate Tax Planning: Evidence from Loan Covenants

Yupeng LIN, Zilong ZHANG, Xiangang XIN, Liandong ZHANG
This study examines the effect of bank monitoring on corporate tax planning behavior. To identify the causal effect, we use a regression discontinuity design, taking advantage of the discrete nature of bank control rights surrounding covenant violation thresholds. We find that strengthened bank moni...
Keywords: Bank monitoring, tax planning, loan covenants, cash tax savings, tax risk, regression discontinuity design
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