U.S. Banking System (Dell’Ariccia et al.)

Bank leverage and monetary policy’s risk-taking channel: evidence from the United States by Giovanni Dell’Ariccia, Luc Laeven, and Gustavo Suarez published by IMF (6/2013), indicated by Arthur Garbayo. “We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending…”