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What Drives Bank Credit Lines? Wholesale Funding and Bank Liquidity Creation
What Drives Bank Credit Lines? Wholesale Funding and Bank Liquidity Creation
상세정보
- 자료유형
- 학위논문 서양
- 최종처리일시
- 20260202103127
- ISBN
- 9798315704119
- DDC
- 658
- 저자명
- Desai, Mohit.
- 서명/저자
- What Drives Bank Credit Lines? Wholesale Funding and Bank Liquidity Creation
- 발행사항
- [Sl] : The University of North Carolina at Chapel Hill, 2025
- 발행사항
- Ann Arbor : ProQuest Dissertations & Theses, 2025
- 형태사항
- 122 p
- 주기사항
- Source: Dissertations Abstracts International, Volume: 86-11, Section: A.
- 주기사항
- Advisor: Sagi, Jacob.
- 학위논문주기
- Thesis (Ph.D.)--The University of North Carolina at Chapel Hill, 2025.
- 초록/해제
- 요약Liquidity creation is one of the primary functions of banks, and bank credit lines are the single largest source of it. Existing theories of banks' supply of credit lines have highlighted the central role of traditional retail deposits. In this paper, I revisit those results and find little evidence to support those claims. Instead, I document that sources of non-retail funding - wholesale funding - have been an important driver of banks' contingent commitments. I show that banks with greater wholesale funding ratios lend more using off-balance sheet commitments. Causal estimates rely on two identification strategies (1) membership dates of banks to the Federal Home Loan Bank (FHLB) system in a staggered difference-in-differences (DiD) exercise and (2) shift-share instrument design. Estimates from these exercises suggest a 1% increase in wholesale funding leads to 0.3-0.4% increase in contingent commitments. I rule out reverse causality in a standard DiD design using an exogenous regulatory change - introduction of FIN 46 - which materially impacted banks' supply of credit lines. These results run contrary to the prevailing deposit-based theories of banks' commitment lending and have important implications for banks' "specialness" in commitment lending, aggregate liquidity risk, and post-2008 decline in bank credit lines.
- 일반주제명
- Finance
- 키워드
- Bank credit
- 기타저자
- The University of North Carolina at Chapel Hill Business Administration
- 기본자료저록
- Dissertations Abstracts International. 86-11A.
- 전자적 위치 및 접속
- 로그인 후 원문을 볼 수 있습니다.
MARC
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■020 ▼a9798315704119
■035 ▼a(MiAaPQ)AAI31938967
■040 ▼aMiAaPQ▼cMiAaPQ
■0820 ▼a658
■1001 ▼aDesai, Mohit.
■24510▼aWhat Drives Bank Credit Lines? Wholesale Funding and Bank Liquidity Creation
■260 ▼a[Sl]▼bThe University of North Carolina at Chapel Hill▼c2025
■260 1▼aAnn Arbor▼bProQuest Dissertations & Theses▼c2025
■300 ▼a122 p
■500 ▼aSource: Dissertations Abstracts International, Volume: 86-11, Section: A.
■500 ▼aAdvisor: Sagi, Jacob.
■5021 ▼aThesis (Ph.D.)--The University of North Carolina at Chapel Hill, 2025.
■520 ▼aLiquidity creation is one of the primary functions of banks, and bank credit lines are the single largest source of it. Existing theories of banks' supply of credit lines have highlighted the central role of traditional retail deposits. In this paper, I revisit those results and find little evidence to support those claims. Instead, I document that sources of non-retail funding - wholesale funding - have been an important driver of banks' contingent commitments. I show that banks with greater wholesale funding ratios lend more using off-balance sheet commitments. Causal estimates rely on two identification strategies (1) membership dates of banks to the Federal Home Loan Bank (FHLB) system in a staggered difference-in-differences (DiD) exercise and (2) shift-share instrument design. Estimates from these exercises suggest a 1% increase in wholesale funding leads to 0.3-0.4% increase in contingent commitments. I rule out reverse causality in a standard DiD design using an exogenous regulatory change - introduction of FIN 46 - which materially impacted banks' supply of credit lines. These results run contrary to the prevailing deposit-based theories of banks' commitment lending and have important implications for banks' "specialness" in commitment lending, aggregate liquidity risk, and post-2008 decline in bank credit lines.
■590 ▼aSchool code: 0153.
■650 4▼aFinance
■653 ▼aBank credit
■653 ▼aPrimary functions
■653 ▼aFederal Home Loan Bank
■653 ▼aContingent commitments
■690 ▼a0508
■690 ▼a0501
■690 ▼a0770
■71020▼aThe University of North Carolina at Chapel Hill▼bBusiness Administration.
■7730 ▼tDissertations Abstracts International▼g86-11A.
■790 ▼a0153
■791 ▼aPh.D.
■792 ▼a2025
■793 ▼aEnglish
■85640▼uhttp://www.riss.kr/pdu/ddodLink.do?id=T17357076▼nKERIS▼z이 자료의 원문은 한국교육학술정보원에서 제공합니다.
