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Author:Brewer, Elijah 

Journal Article
Impact of independent directors and the regulatory environment on merger prices and motivation: evidence from large bank mergers in the 1990s

Emerging Issues , Issue Dec

Working Paper
Requiem for a market marker: the case of Drexel Burham Lambert and below-investment-grade bonds

Working Paper Series, Issues in Financial Regulation , Paper WP-97-25

Report
Commercial bank capacity to pay interest on demand deposits: evidence from large weekly reporting banks

Staff Memoranda , Paper 88-8

Working Paper
Investment opportunity set, product mix, and the relationship between bank CEO compensation and risk-taking

The product mix changes that have occurred in banking organizations during the 1990s provide a natural experiment for investigating how firms adjust their executive compensation contracts as their mix of businesses changes. Deregulation and new technology have eroded banking organizations? comparative advantages and have made it easier for nonbank competitors to enter banking organizations? lending and deposit-taking businesses. In response, banking organizations have shifted their sale mix toward noninterest income by engaging in municipal revenue bond underwriting, commercial paper ...
FRB Atlanta Working Paper , Paper 2004-36

Journal Article
Ex ante risk and ex post collapse of S&Ls in the 1980s

Economic Perspectives , Volume 16 , Issue Jul

Working Paper
How much did banks pay to become too-big-to-fail and to become systematically important?

This paper estimates the value of the too-big-to-fail (TBTF) subsidy. Using data from the merger boom of 1991-2004, the authors find that banking organizations were willing to pay an added premium for mergers that would put them over the asset sizes that are commonly viewed as the thresholds for being TBTF. They estimate at least $15 billion in added premiums for the eight merger deals that brought the organizations to over $100 billion in assets. In addition, the authors find that both the stock and bond markets reacted positively to these TBTF merger deals. Their estimated TBTF subsidy is ...
Working Papers , Paper 11-37

Conference Paper
The effect of capital on portfolio risk at life insurance companies

Proceedings , Paper 407

Report
The impact of market, industry, and interest rate risks on bank stock returns

Staff Memoranda , Paper 86-4

Conference Paper
The impact of deposit insurance on S&L shareholders' risk/return trade- offs

Proceedings , Paper 265

Newsletter
Risk: keeping ahead of the curve - a conference summary

The Chicago Fed's Supervision and Regulation Department, in conjunction with DePaul University's Center for Financial Services, sponsored a conference on March 6 - 7, 2008. The conference brought together bankers, supervisors, and academics to focus on comprehensive risk management, an extremely timely topic given the recent financial turmoil.
Chicago Fed Letter , Issue Jul

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