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Keywords:Bank size 

Journal Article
Systemic risk and deposit insurance premiums

Professor Viral Acharya of the London Business School and New York University collaborates with New York Fed economists Joo Santos and Tanju Yorulmazer to analyze various ways to incorporate systemic risk into deposit insurance premiums. Presented at "Central Bank Liquidity Tools and Perspectives on Regulatory Reform" a conference sponsored by the Federal Reserve Bank of New York, February 19-20, 2009.
Economic Policy Review , Volume 16 , Issue Aug , Pages 89-99

Working Paper
How much did banks pay to become too-big-to-fail and to become systemically important?

This paper estimates the value of the too-big-to-fail (TBTF) subsidy. Using data from the merger boom of 1991-2004, the authors find that banking organizations were willing to pay an added premium for mergers that would put them over the asset sizes that are commonly viewed as the thresholds for being TBTF. They estimate at least $14 billion in added premiums for the eight merger deals that brought the organizations to over $100 billion in assets. In addition, the authors find that both the stock and bond markets reacted positively to these deals. Their estimated TBTF subsidy is large enough ...
Working Papers , Paper 09-34

Report
Diversification, size, and risk at bank holding companies

This paper shows that large BHCs are better diversified than small BHCs based on market measures of diversification. We find, however, that better diversification does not translate into reductions in overall risk. The risk reducing potential of diversification at large BHCs is offset by their lower capital ratios, larger C&I loan portfolios, and greater use of derivatives. Our results suggest that asset growth should enhance diversification but that the effects on risk will depend on the extent to which growth is accompanied by changes in portfolio attributes. Using data from 1980 to 1993, ...
Research Paper , Paper 9506

Conference Paper
Does function follow organizational form? evidence from the lending practices of large and small banks

Proceedings , Paper 815

Working Paper
Size, charter value and risk in banking: an international perspective

This paper documents the relationships between bank size and measures of charter value and insolvency risk in a sample of publicly traded banks in 21 industrialized countries for the 1988-1998 period. With the exception of small U.S. bank holding companies, charter values decrease in size and insolvency risk increases in size for most banks in the countries considered. Size-related diversification benefits and/or economies of scale in intermediation are either absent or, if they exist, are more than offset by banks' higher risk taking. Furthermore, banks operating in countries with more ...
International Finance Discussion Papers , Paper 689

Journal Article
The role of retail banking in the U.S. banking industry: risk, return, and industry structure

The U.S. banking industry is experiencing a renewed interest in retail banking, broadly defined as the range of products and services provided to consumers and small businesses. This article documents the ?return to retail? in the U.S. banking industry and offers some insight into why the shift has occurred. At the bank level, the principal attraction of retail banking seems to be the belief that its revenues are stable and thus can offset volatility in nonretail businesses. At the industry level, the authors show that interest in retail activities fluctuates in rather predictable ways with ...
Economic Policy Review , Volume 13 , Issue Dec , Pages 39-56

Journal Article
In-depth: the big banks: too complex to manage?

Five years after the financial crisis, regulators and lawmakers are still attempting to deal with the big banks?those considered ?too big to fail?. Recent ?misbehaviors? associated with big banks have invigorated the debate: Are these organizations too complex to effectively manage?
Central Banker , Issue Winter

Conference Paper
Public policy implications of legislation limiting the growth of interstate banks

Proceedings , Paper 132

Journal Article
Why do estimates of bank scale economies differ?

A number of public policy issues turn on whether or not there are scale economies in commercial banking. This paper examines why empirical tests in this area have yielded differing results. Sorting out the different methodological approaches enables us to develop general conclusions on the size and significance of scale economies in banking.
Economic Review , Volume 76 , Issue Sep , Pages 38-50

Journal Article
Top performing small banks: making money the old-fashioned way

Although the profitability of U.S. small banks shrank in the 1980s, two percent of these banks remained highly profitable by emphasizing basic banking, namely acquiring low-cost funds and making low-risk investments.
Economic Review , Volume 75 , Issue Nov , Pages 23-35

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