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All HBS Web
(1,302)
- People (3)
- News (286)
- Research (716)
- Events (3)
- Multimedia (1)
- Faculty Publications (365)
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- 2001
- Working Paper
Bank Capital and Risk Management: Issues for Banks and Regulators
By: Kenneth A. Froot
Banks and financial firms are in the process of evolving away from primary warehousers of risk to diversified originators and distributors of financial services. These changes are important for the way that financial firms think about their needs for economic... View Details
Keywords:
Bank Capital And Risk Management;
Issues For Banks And Regulators;
Risk Management;
Governance Compliance;
Capital;
Banks and Banking;
Banking Industry
Froot, Kenneth A. "Bank Capital and Risk Management: Issues for Banks and Regulators." IFCI Geneva Research Paper, No. 8, April 2001. (International Financial Risk Institute.)
- 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...
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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
Begenau, Juliane, and Erik Stafford. "Do Banks Have an Edge?" Harvard Business School Working Paper, No. 18-060, January 2018. (Revised October 2019.)
- March 2014 (Revised September 2015)
- Case
ACA and the Union Bank Acquisition
By: Josh Lerner and Nathaniel Burbank
Okey Enelamah is the CEO of the African Capital Alliance (ACA), a private equity firm based in Nigeria. ACA has spent more than a year arranging a $500 million consortium bid to acquire and recapitalize Union Bank, Nigeria's sixth largest bank. Several weeks before the...
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Keywords:
Nigeria;
African Capital Alliance;
Africa;
Bank Capital;
ACA;
Union Bank;
Development Finance Institutions;
Capital Alliance Private Equity;
Private Equity;
Central Banking;
Banking Industry;
Banking Industry;
Nigeria;
Africa
Lerner, Josh, and Nathaniel Burbank. "ACA and the Union Bank Acquisition." Harvard Business School Case 814-080, March 2014. (Revised September 2015.)
- March 2014
- Teaching Note
Barclays Bank and Contingent Capital Notes, 2012
By: Lucy White
In 2012, regulatory changes following the financial crisis mean that Barclays Bank is faced with the need to raise large amounts of capital in order to comply with increased capital requirements, tightening rules as to the "quality of capital," and increased risk...
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- Research Summary
Crises and Capital Requirements in Banking
previously entitled: The Role of Capital Adequacy Requirements in Sound Banking Systems
Joint work with Alan Morrison, Saïd Business School, Oxford.
We analyse a... View Details
- Fall 2017
- Article
Strengthening and Streamlining Bank Capital Regulation
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...
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Greenwood, Robin, Samuel Gregory Hanson, Jeremy C. Stein, and Adi Sunderam. "Strengthening and Streamlining Bank Capital Regulation." Brookings Papers on Economic Activity (Fall 2017). (Internet Appendix Here.)
- January 2014
- Case
Barclays Bank and Contingent Capital Notes, 2012
By: Lucy White and Trent Kim
In 2012, regulatory changes following the financial crisis mean that Barclays Bank is faced with the need to raise large amounts of capital in order to comply with increased capital requirements, tightening rules as to the "quality of capital," and increased risk...
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White, Lucy, and Trent Kim. "Barclays Bank and Contingent Capital Notes, 2012." Harvard Business School Case 214-063, January 2014.
- Editorial
Bank Regulation's Capital Mistake
By: Amar Bhidé
Bhidé, Amar. "Bank Regulation's Capital Mistake." Project Syndicate (July 4, 2011).
Bank Capital and the Low Risk Anomaly
Minimum capital requirements are a central tool of banking regulation. Setting them balances a number of factors, including any effects on the cost of capital and in turn the rates available to borrowers. Standard theory predicts that, in perfect and efficient...
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- July 2014
- Supplement
Barclays Bank and Contingent Capital Notes, 2012 (CW)
By: Lucy White and Trent Kim
In 2012, regulatory changes following the financial crisis mean that Barclays Bank is faced with the need to raise large amounts of capital in order to comply with increased capital requirements, tightening rules as to the "quality of capital," and increased risk...
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- June 2015
- Article
The Capital Purchase Program and Subsequent Bank SEOs
By: Mozaffar N. Khan and Dushyantkumar Vyas
We find that in the aftermath of the recent financial crisis banks replenished only 12% of crisis-related losses through SEOs in 2009 and 2010. However, SEOs are disproportionately conducted by Capital Purchase Program (CPP) recipients, and this is not explained by CPP...
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Keywords:
Accounting;
Capital;
Equity;
Financial Crisis;
Banks and Banking;
Banking Industry;
United States
Khan, Mozaffar N., and Dushyantkumar Vyas. "The Capital Purchase Program and Subsequent Bank SEOs." Journal of Financial Stability 18 (June 2015): 91–105.
- Article
What Do State-Owned Development Banks Do? Evidence from BNDES, 2002–09
By: Sergio G. Lazzarini, Aldo Musacchio, Rodrigo Bandeira-de-Mello and Rosilene Marcon
Defendants of state-owned development banks emphasize their role in reducing capital constraints and fostering productive investment; detractors point out that they may benefit politically connected capitalists or bail out inefficient firms. We study the effect of...
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Lazzarini, Sergio G., Aldo Musacchio, Rodrigo Bandeira-de-Mello, and Rosilene Marcon. "What Do State-Owned Development Banks Do? Evidence from BNDES, 2002–09." World Development 66 (February 2015): 237–253.
- May 2020
- Case
Trust Merchant Bank
By: Ramon Casadesus-Masanell, Pippa Tubman Armerding, Dilyana Karadzhova Botha and Salim Dewji
Trust Merchant Bank (TMB), a leading bank in the Democratic Republic of Congo (DRC), needs to decide whether to enter the soon-to-be-liberalized insurance industry. Since its founding in 2004, TMB has played a pivotal role in reshaping the DRC banking landscape by...
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Keywords:
Retail Banking;
Financial Services;
Financial Inclusion;
Turnaround;
Fintech;
Banks and Banking;
Financial Condition;
Insurance;
Corporate Strategy;
Expansion;
Business Model;
Family Business;
Entrepreneurship;
Information Technology;
Monopoly;
Banking Industry;
Banking Industry;
Africa;
Congo, Democratic Republic of the
Casadesus-Masanell, Ramon, Pippa Tubman Armerding, Dilyana Karadzhova Botha, and Salim Dewji. "Trust Merchant Bank." Harvard Business School Case 720-449, May 2020.
- September 2015
- Article
Banks as Patient Fixed-Income Investors
By: Samuel G. Hanson, Andrei Shleifer, Jeremy C. Stein and Robert W. Vishny
We examine the business model of traditional commercial banks when they compete with shadow banks. While both types of intermediaries create safe "money-like" claims, they go about this in different ways. Traditional banks create money-like claims by holding illiquid...
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Hanson, Samuel G., Andrei Shleifer, Jeremy C. Stein, and Robert W. Vishny. "Banks as Patient Fixed-Income Investors." Journal of Financial Economics 117, no. 3 (September 2015): 449–469. (Internet Appendix Here.)
- July 2022
- Article
Countercyclical Prudential Buffers and Bank Risk-taking
By: Manuel Illueca, Lars Norden, Joseph Pacelli and Gregory F. Udell
We investigate the effects of countercyclical prudential buffers on bank risk-taking. We exploit the introduction of dynamic loan loss provisioning in Spain, mandating that banks use historical average loss rates in their estimation of loan loss provisions. We find...
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Keywords:
Banks;
Bank Regulation;
Macroprudential Policies;
Bank Lending;
Loan Loss Provisioning;
Risk Taking;
Banks and Banking;
Financing and Loans;
Governing Rules, Regulations, and Reforms;
Risk and Uncertainty
Illueca, Manuel, Lars Norden, Joseph Pacelli, and Gregory F. Udell. "Countercyclical Prudential Buffers and Bank Risk-taking." Art. 100961. Journal of Financial Intermediation 51 (July 2022).
- 2016
- Working Paper
Capital Requirements, Risk Choice, and Liquidity Provision in a Business Cycle Model
By: Juliane Begenau
This paper develops a quantitative dynamic general equilibrium model in which households' preferences for safe and liquid assets constitute a violation of Modigliani and Miller. I show that the scarcity of these coveted assets created by increased bank capital...
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Keywords:
Capital Requirement;
Bank Regulation;
Demand For Safe Assets;
Business Cycles;
Bank Lending;
Risk Management;
Financial Liquidity;
Financing and Loans;
Capital;
Banks and Banking
Begenau, Juliane. "Capital Requirements, Risk Choice, and Liquidity Provision in a Business Cycle Model." Working Paper. (Revised September 2016.)
- December 2005
- Article
Crises and Capital Requirements in Banking
By: Alan Morrison and Lucy White
Morrison, Alan, and Lucy White. "Crises and Capital Requirements in Banking." American Economic Review 95, no. 5 (December 2005): 1548–1572.
- 08 May 2009
- News
Capital race is on for banks
- October 2007 (Revised December 2008)
- Case
The Royal Bank of Scotland Group: The Human Capital Strategy
By: Boris Groysberg and Eliot Sherman
Describes the development and implementation of one of the world's most advanced human resource management support systems. The Royal Bank of Scotland Group is a global banking leader that began implementing a strategy for measuring the impact of human capital on...
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Keywords:
Financial Management;
Human Resources;
Human Capital;
Management Systems;
Measurement and Metrics;
Performance Effectiveness;
Strategy;
Information Technology;
Banking Industry
Groysberg, Boris, and Eliot Sherman. "The Royal Bank of Scotland Group: The Human Capital Strategy." Harvard Business School Case 408-060, October 2007. (Revised December 2008.)
- August 2015
- Article
Dollar Funding and the Lending Behavior of Global Banks
By: Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
A large share of dollar-denominated lending is done by non-U.S. banks, particularly European banks. We present a model in which such banks cut dollar lending more than euro lending in response to a shock to their credit quality. Because these banks rely on wholesale...
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Keywords:
Banks;
Global Banks;
Credit Supply;
Dollar Funding;
International Finance;
Banks and Banking;
Banking Industry
Ivashina, Victoria, David S. Scharfstein, and Jeremy C. Stein. "Dollar Funding and the Lending Behavior of Global Banks." Quarterly Journal of Economics 130, no. 3 (August 2015): 1241–1281.