Publications

October 1995 (Revised June 1996)
Case

ABN-AMRO Holding N.V. and Smit Transformatoren N.V. (A)

By: Peter Tufano

ABN-AMRO, the largest bank in the Netherlands, must decide whether to take any action in regard to the poor performance of Smit Transformatoren, a Dutch transformer manufacturer. ABN-AMRO acted as lead underwriter for the IPO of Smit, and also released a favorable... View Details

Keywords: Initial Public Offering; Capital Markets; Investment Banking; Banking Industry; Financial Services Industry; Netherlands

February 1992 (Revised July 1993)
Case

Telefonica de Argentina S.A.

Deals with the privatization of the Argentine telephone industry. Focuses on the restructuring aspect. Commercial banks owned sovereign debt of Argentina trading at a deep discount to par. The question is whether the banks should exchange their sovereign debt... View Details

Keywords: Financial Instruments; Restructuring; Privatization; Commercial Banking; Telecommunications Industry; Argentina

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March 2021
Article

Loan Guarantees and Credit Supply

By: Natalie Bachas, Olivia S. Kim and Constantine Yannelis

The efficiency of federal lending guarantees depends on whether guarantees increase lending supply or simply act as a subsidy to lenders. We use notches in the guarantee rate schedule for Small Business Administration (SBA) loans to estimate the elasticity of bank... View Details

Keywords: Borrowing and Debt; Financing and Loans; Banks and Banking; Credit

April 2012
Case

Bank of America: Mobile Banking (Abridged)

By: Sunil Gupta and Michael Norris

In January 2010, Bank of America is discussing its future mobile strategy. Should the company add complexity to its app, design multiple apps for business segments, or expand into other mobile channels? View Details

Keywords: Technology Adoption; Mobile and Wireless Technology; Banks and Banking; Banking Industry; United States

1995
Chapter

Financial Infrastructure and Public Policy: A Functional Perspective

By: Robert C. Merton and Zvi Bodie

Keywords: Financial Markets; Financial Institutions; Policy; Government and Politics; Business and Government Relations; Banking Industry; Financial Services Industry

2007
Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management

July 2002
Case

First American Bank: Credit Default Swaps

This case examines a bank's ability to manage its credit exposure to a particular client using credit default swaps. View Details

Keywords: Credit Derivatives and Swaps; Risk and Uncertainty; Banks and Banking; Banking Industry

1995
Chapter

The Evolution of European Multinational Banking before 1914: Comparisons and Contrasts

By: G. Jones

Keywords: History; Multinational Firms and Management; Banks and Banking; Banking Industry; Europe

spring 1983
Article

The Evolution of International Banking Competition and Its Implications for Regulation

By: D. B. Crane and Samuel L. Hayes III

Keywords: Banks and Banking; Competition; Governing Rules, Regulations, and Reforms

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18 Apr 2016
News

In the Spotlight: Jane Fraser

Keywords: Securities, Commodities, and Other Financial Investments; Finance

December 1999 (Revised December 2000)
Case

Charles Schwab: A Category of One

By: Stephen P. Bradley and Thomas H. Esperson

Examines Charles Schwab's on-line discount brokerage firm and questions whether or not Schwab has effectively balanced the old and new world of stock trading, and has remained a leader between giants like Merrill Lynch and Internet pure plays like E-Trade. Also looks... View Details

Keywords: Financial Institutions; Banks and Banking; Technological Innovation; Goals and Objectives; Growth and Development Strategy; Growth Management; Competition; Competitive Strategy; Competitive Advantage; Banking Industry; Financial Services Industry

2019
Working Paper

Do Banks Have an Edge?

By: Juliane Begenau and Erik Stafford

Overall, no! We show that the level and time series variation in cash flows for most bank activities are well matched by capital market portfolios with similar interest rate and credit risk to what banks report to hold. Ignoring operating expenses, bank loans earn high... View Details

Keywords: Banks; Market Efficiency; Bank Capital; Bank Debt; CAPM; Banking; Bank Deposits; Bank Funding Advantage; Leverage; Maturity Transformation; Replicating Portfolio; Efficiency; Banks and Banking; Capital Markets; Performance Evaluation; Performance Efficiency; Banking Industry; United States

SSRN

Fall 2017
Article

Strengthening and Streamlining Bank Capital Regulation

By: Robin Greenwood, Samuel Gregory Hanson, Jeremy C. Stein and Adi Sunderam

We propose three core principles that should inform the design of bank capital regulation. First, wherever possible, multiple constraints on the minimum level of equity capital should be consolidated into a single constraint. This helps to avoid a distortionary... View Details

Keywords: Banks and Banking; Capital; Governing Rules, Regulations, and Reforms; Banking Industry

March 1989
Article

Cheap Talk and the Fed: A Theory of Imprecise Policy Announcements

Keywords: Theory; Policy; Announcements; Central Banking; United States