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Review of Financial Studies, 2007 Although the modern theory of financial intermediation portrays liquidity creation as an essential role of banks, comprehensive measures of bank liquidity creation do not exist. We construct four measures and apply them to data on virtually all U.S. banks from 1993 to 2003.
Allen N. Berger, Christa H. S. Bouwman
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Bank soundness and liquidity creation
EuroMed Journal of Business, 2021PurposeThe purpose of this paper is to investigate how much liquidity banks create and how liquidity creation changed over time in the MENA countries and to examine the soundness of banks in these countries based on the CAME rating system, in addition to investigating the relationship between CAME ratios and liquidity creation of these banks.Design ...
Ahmad Sahyouni, Mohammad A A Zaid
exaly +2 more sources
Bank liquidity creation and recessions
Journal of Banking and Finance, 2018Abstract We investigate the relationship between bank liquidity creation and recessions in the U.S. For the 1984–2010 sample, we find that (i) lower bank on-balance sheet liquidity creation signals recessions four quarters into the future; (ii) off-balance sheet liquidity creation is not a robust predictor of recessions at longer forecast horizons ...
exaly +3 more sources
Taxation and Bank Liquidity Creation
Journal of Money, Credit and Banking, 2023Abstract We investigate the impact of taxes on bank liquidity creation using the Tokyo bank tax as a quasi‐natural experiment. Drawing on data for Japanese banks, we find that the tax reduces retained earnings and capital, leading to a significant reduction in liquidity creation.
Berger, Allen N. +3 more
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National Culture and Bank Liquidity Creation
SSRN Electronic Journal, 2021This paper investigates the relationship between national culture and cross-country variations in bank liquidity creation. We hypothesize that banks in individualistic societies create more liquidity because of risk-taking and overconfidence bias. On the other hand, a better access to soft information likely facilitates liquidity creation by banks in ...
Narjess Boubakri +4 more
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Inefficient Liquidity Creation
SSRN Electronic Journal, 2018We present a model in which intermediaries create liquidity by issuing safe debt. There are two types of intermediaries: Traditional banks create liquidity by issuing equity and holding assets to maturity. In contrast, market-based intermediaries create liquidity by selling assets in fire sales in downturns.
Stephan Luck, Paul Schempp
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Financial Intermediaries and Liquidity Creation
The Journal of Finance, 1990ABSTRACTTrading losses associated with information asymmetries can be mitigated by designing securities which split the cash flows of underlying assets. These securities, which can arise endogenously, have values that do not depend on the information known only to informed agents. Bank debt (deposits) is an example of this type of liquid security which
Gorton, Gary, Pennacchi, George
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Liquidity Creation in the Euromarkets: Comment
Journal of Money, Credit and Banking, 1979Niehans and Hewson [3, p. 1] have claimed the significant impact of the Euromarkets to consist in liquidity distribution rather than liquidity creation. It is the intention of this note to indicate that this conclusion follows from results depending critically on the base year selected.
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SSRN Electronic Journal, 2008
Although the modern theory of financial intermediation portrays liquidity creation as an essential role of banks, comprehensive measures of bank liquidity creation do not exist. We construct four measures and apply them to data on virtually all U.S. banks from 1993-2003.
Allen N. Berger, Christa H. S. Bouwman
openaire +1 more source
Although the modern theory of financial intermediation portrays liquidity creation as an essential role of banks, comprehensive measures of bank liquidity creation do not exist. We construct four measures and apply them to data on virtually all U.S. banks from 1993-2003.
Allen N. Berger, Christa H. S. Bouwman
openaire +1 more source
Bank size and liquidity creation
Applied Economics Letters, 2021This paper examines the relation between bank size and liquidity creation. Using panel data on US banks between 2001:Q1 and 2016:Q4, we find that the relation is negative before and during the fina...
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