TAILIEUCHUNG - Bank Consolidation and Consumer Loan Interest Rates

Together, the empirical facts established in this paper suggest that capital regulation and buffers may only be of second order importance in determining the capital structure of most banks. Hence, our paper sheds new light on the debate whether regulation or market forces determine banks’ capital structures. Barth et al. (2005), Berger et al. (2008) and Brewer et al. (2008) observe that the levels of bank capital are much higher than the regulatory minimum. This could be explained by banks holding capital buffers in excess of the regulatory minimum. Raising equity on short notice in order to avoid. | Wharton Financial Institutions Center Bank Consolidation and Consumer Loan Interest Rates by Charles Kahn George Pennacchi Ben Sopranzetti 01-14 The Wharton School University of Pennsylvania The Wharton Financial Institutions Center The Wharton Financial Institutions Center provides a multi-disciplinary research approach to the problems and opportunities facing the financial services industry in its search for competitive excellence. The Center s research focuses on the issues related to managing risk at the firm level as well as ways to improve productivity and performance. The Center fosters the development of a community of faculty visiting scholars and . candidates whose research interests complement and support the mission of the Center. The Center works closely with industry executives and practitioners to ensure that its research is informed by the operating realities and competitive demands facing industry participants as they pursue competitive excellence. Copies of the working papers summarized here are available from the Center. If you would like to learn more about the Center or become a member of our research community please let us know of your interest. Franklin Allen Co-Director Richard J. erring Co-Director The Working Paper Series is made possible by a generous grant from the Alfred P. Sloan Foundation Comments Welcome Bank Consolidation and Consumer Loan Interest Rates by Charles Kahn Department of Finance University of Illinois 1407 W. Gregory Drive Urbana Illinois 61801 Phone 217 333-2813 Email c-kahn@ George Pennacchi Department of Finance University of Illinois 1407 W. Gregory Drive Urbana Illinois 61801 Phone 217 244-0952 Email gpennacc@ Ben Sopranzetti Department of Finance Rutgers University 94 Rockafeller Road Piscataway New Jersey 08854 Phone 732 445-4188 Email sopranze@ Current version October 2000 We are grateful to Bank Rate Monitor Inc. for permitting our use of their data. Murillo Campello .

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