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Are Bank Holding Companies a Source of Strength to Their Banking Subsidiaries?

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  • ADAM B. ASHCRAFT

Abstract

I document evidence that a bank affiliated with a multi-bank holding company (MBHC) is significantly safer than either a stand-alone bank or a bank affiliated with a one-bank holding company. Not only does MBHC affiliation reduce the probability of future financial distress, but distressed affiliated banks are also more likely to receive capital injections, recover more quickly, and are less likely to fail over the next year. Moreover, the measured benefits of affiliation are much larger than those that existed before recent reforms of bank holding company regulation, suggesting that much of the observed benefit can be attributed to regulation and not the market. Copyright (c)2008 The Ohio State University.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1538-4616.2008.00113.x
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Bibliographic Info

Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

Volume (Year): 40 (2008)
Issue (Month): 2-3 (03)
Pages: 273-294

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Handle: RePEc:mcb:jmoncb:v:40:y:2008:i:2-3:p:273-294

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

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  1. Adam B. Ashcraft, 2001. "New evidence on the lending channel," Staff Reports 136, Federal Reserve Bank of New York.
  2. Adam B. Ashcraft, 2005. "Are Banks Really Special? New Evidence from the FDIC-Induced Failure of Healthy Banks," American Economic Review, American Economic Association, vol. 95(5), pages 1712-1730, December.
  3. Mark J. Flannery, 1986. "Contagious bank runs, financial structure and corporate separateness within a bank holding company," Proceedings 108, Federal Reserve Bank of Chicago.
  4. Anthony Cornyn & Gerald Hanweck & Stephen Rhoades & John Rose, 1986. "An analysis of the concept of corporate separateness in BHC regulation from an economic perspective," Proceedings 107, Federal Reserve Bank of Chicago.
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