Annual Conference

|

Accounting

|

May 2024

Bankruptcy and Restructuring Outcomes of CLO-held Loans: The Role of CLO-Bank Relationships

Yupeng LIN, Dushyantkumar VYAS, Wanrong XU
Loans held by CLOs are often originated by banks with whom CLO managers have past trading relationships. Consistent with CLOs obtaining valuable private information with the help of these relationships, we find that firms whose loans are initially purchased by bank-related CLOs are less likely to ex...
Keywords: CLOs, Syndicated loans, Loan Contracting, Information Flow, bankruptcy, Corporate Restructuring
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

International Macroeconomics, Money & Banking, Senior Fellows/Fellows

|

May 2017

Banking The Unbanked: What do 255 Million New Bank Accounts Reveal about Financial Access?

Sumit AGARWAL, Amit SERU, Pulak GHOSH, Shashwat ALOK, Soumya GHOSH, Tomasz PISKORSKI
In this ongoing study, we use the largest financial inclusion program in the world to study the role of financial inclusion on the unbanked and the real economy. Using administrative account level micro data, we find that the program led to 255 million new bank account openings in India (as of Novem...
Keywords: banking, Financial Inclusion, Financial Literacy, big data, Financial Access, savings, Spending, Debit Card, Consumer Finance, Household Finance
  • View
  • Download
  • Bookmark
  •    |   

Senior Fellows/Fellows

|

2025

Banking on Technology: Bank Technology Adoption and Its Effects

Sheila JIANG, Alessandro REBUCCI, Gang ZHANG
We develop and estimate a new model of endogenous growth in bank efficiency and firm productivity in which banks adopt technology embedded in capital goods produced by entrepreneurs, and agents choose whether to become workers or capital-good-producing entrepreneurs. In this framework, bank efficien...
Keywords: Bank efficiency, Cost of Intermediation, Growth, Firm Size Distribution, Technology Adoption, Productivity
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

International Macroeconomics, Money & Banking

|

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
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

International Macroeconomics, Money & Banking, Senior Fellows/Fellows

|

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
  • View
  • Download
  • Bookmark
  •    |