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Author:Hancock, Diana 

Working Paper
Federal Home Loan Bank advances and commercial bank portfolio composition

This paper considers the role of Federal Home Loan Bank (FHLB) advances in stabilizing their commercial bank members' residential mortgage lending activities. Our theoretical model shows that using mortgage-related membership criteria or requiring mortgage-related collateral does not ensure that FHLB advances will be put to use for stabilizing members' financing of housing. Using panel vector autoregression (VAR) techniques, we estimate recent dynamic responses of U.S. bank portfolios to FHLB advance shocks, bank lending shocks, and macroeconomic shocks. Our empirical findings suggest that ...
FRB Atlanta Working Paper , Paper 2007-17

Working Paper
Does trading frequency affect subordinated debt spreads?

Because illiquid bonds may be relatively poorly priced, the ability to infer investor perceptions of changes in a banking organization's financial health from such bonds may be obscured. To examine the time-series effect of trading frequency on subordinated debt spreads, we consider the liquidity of subordinated debt for large, complex U.S. banking organizations over the 1987:Q2 - 2002:Q4 period. Since trade volumes are unobservable, we construct various measures of weekly trading frequency from observed bond prices. Using these indirect liquidity measures, we find evidence that trading ...
Finance and Economics Discussion Series , Paper 2005-08

Journal Article
Scale economies and technological change in Federal Reserve ACH payment processing

An analysis of the contribution of scale economies, technological change, and falling input prices to the absolute reduction in the real processing costs of an ACH transfer over the 1979-94 period.
Economic Review , Issue Q III , Pages 14-29

Conference Paper
Basel II competitive implications

Proceedings , Paper 974

Conference Paper
A summary of \"Federal Home Loan Bank advances and commercial bank portfolio composition\"

Proceedings , Paper 1057

Conference Paper
Federal Reserve research on government-sponsored enterprises

Proceedings , Paper 1018

Journal Article
Recent developments affecting the profitability and practices of commercial banks

Federal Reserve Bulletin , Issue Jul , Pages 459-483

Working Paper
Why are bank profits so persistent: the roles of product market competition, informational opacity, and regional/macroeconomic shocks

We investigate how banking market competition, informational opacity, and sensitivity to shocks have changed over the last three decades by examining the persistence of firm-level rents. We develop propagation mechanisms with testable implications to isolate the sources of persistence. Our analysis suggests that different processes underlie persistent performance at the high and low ends of the distribution. Our tests suggest that impediments to competition and informational opacity continue to be strong determinants of performance; that the reduction in geographic regulatory restrictions had ...
Finance and Economics Discussion Series , Paper 1999-28

Journal Article
A reconsideration of the risk sensitivity of U.S. banking organization subordinated debt spreads: a sample selection approach

The authors estimate a sample selection model over three distinct regulatory "regimes" when the treatment of bank bondholders (in the event of bank failures) differed substantially. They then estimate their selection model to test the strength of bond market discipline over these three regulatory regimes, finding that bank bond spreads are positively associated with bank risk measures during all three regimes, even during the too-big-to-fail period.
Economic Policy Review , Issue Sep , Pages 73-92

Conference Paper
The extraordinary persistence of profits in the U.S. banking industry: a breakdown of the competitive paradigm?

Proceedings , Paper 581

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