| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18609 |
| 来源ID | Working Paper 18609 |
| Did the Community Reinvestment Act (CRA) Lead to Risky Lending? | |
| Sumit Agarwal; Efraim Benmelech; Nittai Bergman; Amit Seru | |
| 发表日期 | 2012-12-06 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Yes, it did. We use exogenous variation in banks' incentives to conform to the standards of the Community Reinvestment Act (CRA) around regulatory exam dates to trace out the effect of the CRA on lending activity. Our empirical strategy compares lending behavior of banks undergoing CRA exams within a given census tract in a given month to the behavior of banks operating in the same census tract-month that do not face these exams. We find that adherence to the act led to riskier lending by banks: in the six quarters surrounding the CRA exams lending is elevated on average by about 5 percent every quarter and loans in these quarters default by about 15 percent more often. These patterns are accentuated in CRA-eligible census tracts and are concentrated among large banks. The effects are strongest during the time period when the market for private securitization was booming. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance ; Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w18609 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576282 |
| 推荐引用方式 GB/T 7714 | Sumit Agarwal,Efraim Benmelech,Nittai Bergman,et al. Did the Community Reinvestment Act (CRA) Lead to Risky Lending?. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18609.pdf（416KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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