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Faculté et Recherche

Deposit Market Power, Funding Stability and Long-Term Credit - Phil Strahan

26 sep
2019
14H00
Jouy-en-Josas
Anglais

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2019-09-26T14:00:00 2019-09-26T15:15:00 Deposit Market Power, Funding Stability and Long-Term Credit - Phil Strahan Finance Speaker : Phil Strahan Buil. T - Room T105 Jouy-en-Josas

Finance

Speaker : Phil Strahan

Buil. T - Room T104

This paper shows that banks raising deposits in more concentrated markets have more funding stability, which enhances banks’ ability to extend longer-maturity loans. We show that banks raising deposits in concentrated markets exhibit less pro-cyclical financing costs and profits, which in turn reduces the funding risk of originating long-term illiquid loans. Consistently, banks with deposit HHI one standard deviation above average extend loans with about 20% longer maturity than those with deposit HHI one standard deviation below average. Deposit concentration also allows banks to charge lower maturity premiums. Access to banks raising funds in concentrated markets improves growth in industries traditionally reliant on long-term credit.

 

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2019-09-26T14:00:00 2019-09-26T15:15:00 Deposit Market Power, Funding Stability and Long-Term Credit - Phil Strahan Finance Speaker : Phil Strahan Buil. T - Room T105 Jouy-en-Josas