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Author:Unal, Haluk 

Conference Paper
Relationship lending and credit availability during the Asian financial crisis

Proceedings , Paper 999

Conference Paper
Capital positions of Japanese banks

Proceedings , Paper 293

Conference Paper
Parameter variability, event studies, and the two-index model

Proceedings , Paper 197

Conference Paper
Risky debt prices and term-structure of credit spreads

Proceedings , Paper 593

Working Paper
Shadow Insurance? Money Market Fund Investors and Bank Sponsorship

We argue that bank holding companies (BHCs) extend shadow insurance to the prime institutional money market funds (PI-MMFs) they sponsor and that PI-MMFs price this shadow insurance by charging investors significantly higher expense ratios and paying lower net yields. We provide evidence that after September 2008, expense ratios at BHC-sponsored PI-MMFs increased more than at non-BHC-sponsored PI-MMFs. Despite higher expense ratios, BHC-sponsored PI-MMFs did not experience larger redemptions than non-BHC-sponsored PI-MMFs. In addition, we show that expenses ratios increased with BHCs’ ...
Research Working Paper , Paper RWP 21-07

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Kane, Edward J. 3 items

Demirgüč-Kunt, Asli 1 items

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Madan, Dilip B. 1 items

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