Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities
收藏NBER2014-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w19984
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资源简介：
We propose a theory of regulatory arbitrage by banks and test it using trust preferred securities (TPS) issuance. From 1996 to 2007, U.S. banks in the aggregate increased their regulatory capital through issuance of TPS while their net issuance of common stock was negative due to repurchases. We
提供机构：
美国国家经济研究局
创建时间：
2014-03-01
