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  • Article

The Harmonization of Lending Standards within Banks through Mandated Loan-Level Transparency

By: Jung Koo Kang, Maria Loumioti and Regina Wittenberg-Moerman
We explore whether the introduction of transparent reporting rules increases credit standard harmonization within a bank. We exploit the new loan-level reporting rules imposed on banks that borrow from the European Central Bank using repurchase agreements... View Details
Keywords: Transparency; External And Internal Reporting; Credit Term Harmonization; Regulatory Scrutiny; Banks and Banking; Credit; Financial Reporting; Governing Rules, Regulations, and Reforms; Learning
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  • Article

Credit and Punishment: Are Corporate Bankers Disciplined for Risk-Taking?

By: Janet Gao, Kristoph Kleiner and Joseph Pacelli
We examine whether bankers face disciplining consequences for structuring poorly performing corporate loans. We construct a novel data set containing the employment histories and loan portfolios of a large sample of corporate bankers and find that corporate credit... View Details
Keywords: Syndicated Loans; Credit Events; Career Outcomes; Loan Officers; Banks and Banking; Financing and Loans; Risk Management; Corporate Finance; Personal Development and Career
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  • Forthcoming
  • Article

Weak Credit Covenants

By: Victoria Ivashina and Boris Vallée
Using novel data on 1,240 credit agreements, we investigate sources of contractual complexity in the leveraged loan market. While negative covenants are widespread, carve-out and deductible clauses that qualify them are as frequent. We propose simple and comprehensive... View Details
Keywords: Leveraged Loans; Loan Contracts; Debt Covenants; Carve-out; Creditor Governance; LBO; Credit; Agreements and Arrangements; Leveraged Buyouts
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  • Web

Terms of Use | HBS Online

Privacy Notice SMS Terms Terms of Use FERPA Community Values & Honor Code Trademark Notice Cookies Updated August 13, 2024 These terms apply to you if you registered or agreed... View Details
  • 24 Sep 2024
  • Research & Ideas

Why Small Businesses Deserve More Credit

the financial security of being able to roll over debt in a credit line, shifted slowly to term debt. The researchers found: Fewer than 10 percent of the firms were "truly financially constrained" with... View Details
Keywords: by Rachel Layne; Financial Services; Banking
  • Web

Terms of Use - HBS Online

(11 August 2024) 1. Introduction; Changes Please read these Terms of Use and the other Agreements described immediately below before registering for, accessing or using any portion of the Harvard Business School Online website (the... View Details
  • 24 Jun 2008
  • Working Paper Summaries

Bank Structure and the Terms of Lending to Small Businesses

Keywords: by Rodrigo Canales & Ramana Nanda; Banking
  • 14 Mar 2011
  • Research & Ideas

Keeping Credit Flowing to Consumers in Need

government should not be the sole credit source. But how will private capital respond to a diminished federal role? Given the collapse of the housing market, what terms will private capital require to... View Details
Keywords: by Sean Silverthorne; Financial Services; Construction; Real Estate
  • 11 Jun 2014
  • News

The Digital Opportunity Staring Credit Cards in the Face

  • 03 Nov 2010
  • Working Paper Summaries

How Did Increased Competition Affect Credit Ratings?

Keywords: by Bo Becker & Todd Milbourn; Financial Services
  • 14 Dec 2010
  • Working Paper Summaries

Regulating for Legitimacy: Consumer Credit Access in France and America

Keywords: by Gunnar Trumbull
  • August 2012
  • Article

A Darker Side to Decentralized Banks: Market Power and Credit Rationing in SME Lending

By: Rodrigo Canales and Ramana Nanda
We use loan-level data to study how the organizational structure of banks impacts small business lending. We find that decentralized banks-where branch managers have greater autonomy over lending decisions-give larger loans to small firms and those with "soft... View Details
Keywords: Geographic Location; Customers; Financing and Loans; Credit; Organizational Structure; Banks and Banking; Governance Compliance; Competitive Strategy
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  • August 2011 (Revised October 2014)
  • Supplement

High Wire Act: Credit Suisse and Contingent Capital (B)

By: Clayton S. Rose and Aldo Sesia
The B case describes the process and terms of the very successful offerings of contingent capital in February 2011, as well as The Basel Committee's preliminary decision not to allow contingent capital to count as Tier 1 equity. View Details
Keywords: Cost vs Benefits; Decisions; Financial Crisis; Finance; Capital; Financial Instruments; Leadership
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  • 2008
  • Working Paper

A Darker Side to Decentralized Banks: Market Power and Credit Rationing in SME Lending

By: Rodrigo Canales and Ramana Nanda
We use loan-level data to study how the organizational structure of banks impacts small business lending. We find that decentralized banks—where branch managers have greater autonomy over lending decisions—give larger loans to small firms and those with "soft... View Details
Keywords: Organizational Structure; Financing and Loans; Industry Structures; Banks and Banking; Banking Industry; Mexico
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  • 22 Aug 2024
  • Research & Ideas

Reading the Financial Crisis Warning Signs: Credit Markets and the 'Red-Zone'

worried about those credits failing. Layne: What can people look for in terms of signals right now, with the Fed trying to keep inflation under control and things not progressing quite as quickly as they... View Details
Keywords: by Rachel Layne; Banking
  • Web

Buy Now, Pay Later: Pre-Industrial Credit in Practice

Economy: The Rise of Credit Reporting Credit in a Consumer Society Research Links Credits “To term an American farmer dilatory in regard to the... View Details
  • 27 Apr 2023
  • Cold Call Podcast

Equity Bank CEO James Mwangi: Transforming Lives with Access to Credit

Keywords: Re: Caroline M. Elkins; Banking; Financial Services
  • 01 Mar 2014
  • News

Book Review: The Old West

growth—choosing instead to align with passive CEOs looking for short-term gains. What's more, the East is succeeding by using the very model the West forfeited, looking to men and women who seek to build empires with bold—and yes, occasionally risky—business strategies... View Details
Keywords: Maureen Harmon
  • 26 Jan 2021
  • Research & Ideas

A New Way to Cut Credit Card Debt: Pay Off One Purchase at a Time

A novel approach to repaying debt could help consumers free themselves from crushing credit card balances faster, according to new research. Rather than asking borrowers to make payments toward their total balances, Harvard Business... View Details
Keywords: by Kristen Senz; Financial Services
  • 01 Jun 2023
  • News

Righting the Ship

When Ross Stuckey (PLDA 21, 2016) joined the headquarters of the NAVSEA Warfare Centers as their capital improvement program (CIP) manager in 2016, he was charged with leading divisional managers at each of the NAVSEA WC’s 10 subsidiaries. He also was responsible for... View Details
Keywords: Maureen Harmon