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Journal Article
The role of relative performance in bank closure decisions
This paper studies a banking industry subject to common and idiosyncratic shocks. We compare two types of regulatory closure rules: (1) an absolute closure rule, which closes banks when their assetliability ratios fall below a given threshold, and (2) a relative closure rule, which closes banks when their assetliability ratios fall sufficiently below the industry average. There are two main results: First, relative closure rules imply forbearance during bad times, defined as adverse realizations of the common shock. This forbearance occurs for incentive reasons, not because of ...
Journal Article
A note of caution on early bank closure
Conference Paper
Discussant comments on regulatory intervention
Journal Article
Early warning systems
Conference Paper
Supervision of undercapitalized banks: is there a case for change?
Conference Paper
Problem banks: the Phoenix factors
Journal Article
Assistance for problem banks
Special issue on problem banks
Conference Paper
Banking risk and the investor