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Keywords:Investment banking 

Working Paper
Risk overhang and loan portfolio decisions

Despite operating under substantial regulatory constraints, we find that commercial banks manage their investments largely consistent with the predictions of portfolio choice models with capital market imperfections. Based on 1990-2002 data for small (assets less than $1 billion) U.S. commercial banks, net new lending to the business, real estate, and consumer sectors increased with expected sector profitability, tended to decrease with the illiquidity of existing (overhanging) loan stocks, and was responsive to correlations in cross-sector returns. Small banks are most appropriate for this ...
Working Paper Series , Paper WP-05-04

Conference Paper
Bank securities powers: are there diversification gains?

Proceedings , Paper 214

Conference Paper
Bank securities activities: current position and future prospects: current position and future prospects

Proceedings , Paper 207

Report
A cross-sectional analysis of mutual funds' market timing and security selection skill

Research Paper , Paper 9014

Conference Paper
Reputation transfer : evidence from bank underwriting

Proceedings , Paper 860

Report
Understanding the securitization of subprime mortgage credit

In this paper, we provide an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. We discuss the ways that market participants work to minimize these frictions and speculate on how this process broke down. We continue with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. We present the key structural features of a typical subprime securitization, document how rating agencies assign credit ratings to mortgage-backed securities, and outline how these agencies ...
Staff Reports , Paper 318

Report
The American origin of the separation of banking and commerce

Research Paper , Paper 9309

Journal Article
Capital requirements of commercial and investment banks: contrasts in regulation

Quarterly Review , Volume 12 , Issue Aut , Pages 1-10

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Kwan, Simon H. 4 items

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