Search Results
Journal Article
Financial crises and bank supervision: new directions for Japan?
Conference Paper
Lessons from financial crisis: the Japanese case
Newsletter
Japanese banks and market discipline
Conference Paper
Bank regulation and structure: an international overview
Journal Article
Sluggish money growth: Japan's recent experience
Journal Article
Stock prices and bank lending behavior in Japan
This study attempts to shed light on whether stock price movements have contributed to recent fluctuations in bank lending in Japan by examining the historical relationship between stock prices and bank lending in that country. It is found that prior to the mid-1980s the relationship between stock prices and bank lending was weak, but subsequently strengthened considerable. This coincided with a change in the regulatory environment that encouraged banking institutions to pay more attention to their capital positions. Since the late 1980s, fluctuations in stock prices appear to have made ...
Working Paper
Market price accounting and depositor discipline in Japanese regional banks
We examine the determinants of Japanese regional bank decisions concerning pricing unrealized losses or gains to market. We also examine the impact of these decisions on the intensity of depositor discipline, in the form of the sensitivity of deposit growth to bank financial conditions. To obtain consistent estimates of depositor discipline, we first model and estimate the bank pricing-to-market decision and then estimate the intensity of depositor discipline after conditioning for that decision. We find that banks were less likely to price to market the larger were their unrealized ...
Periodic Essay
Japanese city banks: unwarranted housing loan expectations
Journal Article
Moral hazard under the Japanese \"convoy\" banking system
This paper examines a banking regime similar to the "convoy" scheme which prevailed in Japan through most of the 1990s. Insolvent banks are merged with solvent banks rather than closed, with the acquiring banks required to accept negative value banks at zero value. I demonstrate that a convoy scheme effectively taxes the acquiring bank and increases moral hazard by reducing bank effort towards enhancing its portfolio, even relative to a fixed-premium deposit insurance system, for negative value banks. However, for positive bank charter values, which are retained under the convoy scheme ...