THE IMPACT OF REAL ESTATE LENDING ON THRIFTS' FRANCHISE VALUES DURING THE 2007-2009 CRISIS: A COMPARISON WITH COMMERCIAL BANKS

被引：1

作者：

Salotti, Valentina ^{[1
]}

Schenck, Natalya A. ^{[2
]}

Thornton, John H., Jr. ^{[3
]}

机构：

[1] Iowa State Univ, Ames, IA 50011 USA

[2] Off Comptroller Currency, Washington, DC USA

[3] Kent State Univ, Kent, OH USA

来源：

JOURNAL OF FINANCIAL RESEARCH | 2016年 / 39卷 / 01期

关键词：

DEPOSIT INSURANCE; CHARTER VALUE; RISK; DETERMINANTS; COMPETITION; FAILURES;

D O I：

10.1111/jfir.12089

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The real estate bubble and 2007-2009 financial crisis revived the debate about the viability of the thrift charter and its imposed limits on lending diversification. We compare the impact of real estate exposure on franchise values of publicly traded thrifts and size-matched banks during and after the crisis. Whereas thrifts are mostly exposed to residential real estate, banks have a higher concentration in commercial real estate (CRE), which is significantly associated with the decline in their franchise values. We conclude that the constraints on loan portfolio diversification, such as the one on CRE, are not detrimental to the thrift charter.

引用

页码：35 / 62

页数：28

共 5 条

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