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Journal Article
Eleventh District community banks outperform peers despite weaker credit quality
Eleventh District community banks will likely continue to outperform their nationwide peers in terms of profitability, given their larger share of noninterest-bearing deposits.
Working Paper
What Drives Cyber Losses at U.S. Banks? Potential Statistical Markers
Bank supervisors and regulators are keen to understand and mitigate bank cyber risks. We model average annual loss (AAL) rates from “attritional” cyber-attacks and other cyber events using new, individual bank level data from the CyberCube “analytics platform” combined with standard bank performance measures. We estimate a variety of regression models to robustly identify the systematic drivers of these loss rates. We find that cyber risk AAL loss rates are significantly U-shaped in bank size, contrary to the view these risks are declining in bank size. Bank cyber risk contains a ...