Author(s):Mary Chen, Seung Jung Lee, Daniel Neuhann, and Farzad Saidi Date:March 2023 Abstract: Bank deregulation in the form of the repeal of the Glass-Steagall Act facilitated the entry of non-bank lenders into the market for syndicated loans during the pre-2008 credit boom. Institutional investors disproportionately purchase tranches of loans originated by universal banks able to[…]

Author(s):Puriya Abbassi, Rajkamal Iyer, José-Luis Peydró, and Paul Soto Date:March 2023 Abstract: We study short-term and medium-term changes in bank risk-taking as a result of supervision, and the associated real effects. For identification, we exploit the European Central Bank’s asset-quality- review (AQR) in conjunction with security and credit registers. After the AQR announcement, reviewed banks[…]