Search Results

SORT BY: PREVIOUS / NEXT
Author:Brewer, Elijah 

Newsletter
Corporate governance: implications for financial services firms

Chicago Fed Letter , Issue Dec

Working Paper
How much did banks pay to become too-big-to-fail and to become systemically 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 $14 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 deals. Their estimated TBTF subsidy is large enough ...
Working Papers , Paper 09-34

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

Journal Article
Access to FHLBank advances and the performance of thrift institutions

This article examines thrift financial data from 1985 to 1991 and finds that financially distressed thrifts, especially those benefiting from regulatory forbearance policies, tended to borrow more from Federal Home Loan Banks. The authors also find that the stock returns of distressed thrifts reflected the subsidized rates at which they were able to borrow from the Federal Savings and Loan Corporation.
Economic Perspectives , Volume 22 , Issue Q II

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
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

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

Proceedings , Paper 265

Conference Paper
The current magnitude of the problem in the S&L industry

Proceedings , Paper 160

Journal Article
Performance and access to government guarantees: the case of small business investment companies

This article analyzes the performance of small business investment companies (SBICs) that are chartered and regulated by the Small Business Administration (SBA). Our principal finding is that poor performance over the 1986-91 period is associated with high usage of funds from the SBA.
Economic Perspectives , Volume 20 , Issue Sep , Pages 16-32

FILTER BY year

FILTER BY Content Type

FILTER BY Author

FILTER BY Keywords

PREVIOUS / NEXT