This article reviews the dramatic growth of nonbank mortgage lending after the Global
Financial Crisis, especially to borrowers with lower credit scores, and the related importance …

We study the effects of technological change on financial intermediation, distinguishing
between innovations in information (data collection and processing) and communication …

The US bank stress tests aim to improve financial system stability. However, they may also
affect bank credit supply. We formulate and test opposing hypotheses about these effects …

This paper summarises the results of a joint research project by five central banks in Latin
America countries (Argentina, Brazil, Colombia, Mexico and Peru) to evaluate the …

The paper analyzes the effect of changes in eight types of bank-oriented macroprudential
policies on bank competition and stability. Using a bank-level database of a maximum of …

We show that a contraction of mortgage supply after the Great Recession has increased
housing rents. Our empirical strategy exploits heterogeneity in MSAs' exposure to regulatory …

We study the effects of transparency disclosures on US banks' relayed culture. Using bank
stress-test regulations and a regression-discontinuity design, we exploit the quasi …

We use supervisory data to investigate the ex-ante credit risk taken by different types of
lenders in the US syndicated term loan market during the LSAPs period. We find that …

We examine the impact of Federal Reserve stress tests from 2009 to 2016 on US bank
liquidity creation. Empirical results show that regulatory stress tests have a negative effect on …

We investigate the US experience with macroprudential policies by studying the interagency
guidance on leveraged lending. We find that the guidance primarily impacted large, closely …