How Do Capital Requirements Impact Banking Sector Risk-Taking and Market Shares of Big and Small Banks?

Research in Focus — Pablo D’Erasmo of the Philly Fed and his coauthor use a model of the U.S. banking sector to determine how regulatory policies affect concentration, stability, and efficiency.

Featured Work

Corporate Disclosure: Facts or Opinions?

WP 21-40 – A large body of literature documents the link between textual communication (e.g., news articles, earnings calls) and firm fundamentals, either through pre-defined “sentiment” dictionaries or through machine learning approaches. Surprisingly, little is known about why textual communication matters.

CLO Performance

WP 20-48/R – We study the performance of collateralized loan obligations (CLOs) to understand the market imperfections giving rise to these vehicles and their corresponding economic costs.

Should Central Banks Issue Digital Currency?

WP 21-37 – We study how the introduction of central bank digital currency affects interest rates, the level of economic activity, and welfare in an environment where both central bank money and private bank deposits are used in exchange.

Featured Data

Map of the Third Federal Reserve District

Institutions in the Third District

The lists include a summary of market statistics and each institution’s location and asset size as of the most recent quarter.

Updated: 04 Oct ’21

Map of the Third Federal Reserve District

Third District Banking Conditions

Third District Banking Conditions is a semiannual report comparing the trends of Third District community banks with their national peers.

Updated: 02 Nov ’21