| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12913 |
| DP12913 The Rise of Shadow Banking: Evidence from Capital Regulation | |
| Rustom M Irani; Ralf R Meisenzahl; José-Luis Peydró | |
| 发表日期 | 2018-05-04 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identication, we exploit a supervisory credit register of syndicated loans, loan-time fixed-effects, and shocks to capital requirements arising from surprise features of the U.S. implementation of Basel III. We nd that less-capitalized banks reduce loan retention, particularly among loans with higher capital requirements and at times when capital is scarce, and nonbanks step in. This reallocation has important spillovers: during the 2008 crisis, loans funded by nonbanks with fragile liabilities are less likely to be rolled over and experience greater price volatility. |
| 主题 | Financial Economics |
| 关键词 | Shadow banks Risk-based capital regulation Basel iii Interactions between banks and nonbanks Trading by banks Distressed debt |
| URL | https://cepr.org/publications/dp12913 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541724 |
| 推荐引用方式 GB/T 7714 | Rustom M Irani,Ralf R Meisenzahl,José-Luis Peydró. DP12913 The Rise of Shadow Banking: Evidence from Capital Regulation. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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