Will the proposed application of Basel II in the United States encourage increased bank merger activity? Evidence from past merger activity
Division of Research & Statistics and Monetary Affairs, Federal Reserve Board, 2004 - Business & Economics - 54 pages
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$50 billion A-IRB approach acquire other banking acquired assets adopt A-IRB adoption of A-IRB analysis arguments Athanasios Orphanides Average number Bank Mergers Banking Industry Basel Basel Capital Accord became constrained beneﬁts BHC’s BHCs that became binary variable Brian Sack capital ratios capital standards change in merger coefﬁcients consistent December December 31 deﬁned deﬁnitions difference efﬁcient excess capital excess regulatory capital excregcap expense ratio February Federal Reserve Board Federal Reserve System ﬁnd ﬁnding ﬁrst ﬁxed effects hpchange hypothesis Inﬂation inﬂuence insigniﬁcant large banking organizations large BHCs level of capital mandatory A-IRB BHCs Market measures of excess merger activity mid-year Monetary Policy number of mergers Panel Data PCA standards percent primary capital prompt corrective action ratio of acquired Ratio of Assets reﬂect regulatory capital requirements regulatory minimum regulatory requirements relative capital advantage relevant retum on equity risk-weighted assets sample Speciﬁcally statistically signiﬁcant Table tier 1 capital total assets unconstrained