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Working Paper
Separating the likelihood and timing of bank failure
Working Paper
Separating the likelihood and timing of bank failure
Working Paper
Commercial banks and real estate lending: the Texas experience
This study analyzes the performance of Texas commercial banks specializing in mortgage lending during the late 1980s and early 1990s to investigate how representative was their experience as compared with that of banks across the country concentrating in real estate lending. The results show that Texas real estate banks (REBs) performed very poorly during the 1980s and early 1990s, but this was because the Texas REBs were clearly different from the majority of the banks classified as REBs in the rest of the country. Texas REBs invested more heavily in commercial mortgages than did other ...
Working Paper
Agency conflicts and thrift resolution costs
Journal Article
Bank and nonbank competition for small business credit: evidence from the 1987 and 1993 national surveys of small business finances
Using newly available data from the Board's 1993 National Survey of Small Business Finances together with data from the 1987 survey, this article analyzes competition between banks and nonbanks in the U.S. market for small business credit. It explores nonbank competition as an explanation for the decline in banks' share of business lending by examining sources of credit used by small firms. It examines both the bank and nonbank shares of the dollar amount of credit to small businesses, including how these shares have changed from 1987 to 1993, and the incidence of small business borrowing, ...