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Federal Reserve Bank of Kansas City
Research Working Paper
Raising capital when the going gets tough: U.S. bank equity issuance from 2001 to 2014
Rajdeep Sengupta
Lamont K. Black
Ioannis Floros
Abstract

The authors studied bank equity issuance during 2001–14 by publicly traded U.S. banks through seasoned equity offerings (SEOs), private investment in public equity (PIPEs), and the Troubled Asset Relief Program (TARP). Results show that private investors were an active and important source of bank recapitalization in the United States as issuance through SEOs and PIPEs peaked in the recent crisis.


Download https://doi.org/10.18651/RWP2016-05
Cite this item
Rajdeep Sengupta & Lamont K. Black & Ioannis Floros, Raising capital when the going gets tough: U.S. bank equity issuance from 2001 to 2014, Federal Reserve Bank of Kansas City, Research Working Paper RWP 16-5, 01 Jun 2016.
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JEL Classification:
Subject headings:
Keywords: Bank equity; Financial crisis; Troubled Asset Relief Program (TARP); Equity issuance; Commercial banks
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