Surveys
Banking Conditions Survey
Loan demand declined for the first time in nearly two years, and overall loan volumes decreased over the past six weeks.
October 03, 2022
Research Department Working Papers
Operational Loss Recoveries and the Macroeconomic Environment: Evidence from the U.S. Banking Sector
Using supervisory data from large U.S. bank holding companies, this paper documents that operational loss recovery rates decrease in macroeconomic downturns.
September 01, 2022
Research Department Working Papers
Are Equity Option Returns Abnormal? IPCA Says No
This paper shows that much of the profitability in equity option return strategies, which try to capture option mispricing by taking exposure to underlying volatility, can be explained by an IPCA model.
August 26, 2022
Surveys
Banking Conditions Survey
Loan demand continued to increase but at a markedly slower pace than what has been seen over the last 18 months.
August 22, 2022
Research Department Working Papers
Uncertainty, Stock Prices and Debt Structure: Evidence from the U.S.-China Trade War
Using the recent U.S.-China trade war as a laboratory, this paper shows that policy uncertainty shocks have a significant impact on stock prices.
August 19, 2022
Firm debt structure can mitigate impact of uncertainty shock
We found evidence that the way a firm structures its debt can mitigate a significant amount of the negative effects from uncertainty shocks, especially for zombie firms.
August 09, 2022
Southwest Economy, Second Quarter 2022
Changing economy likely to test banks as stimulus ends, growth slows
Banks in the region and the U.S., which have benefited from pandemic-era fiscal stimulus, face downside risks arising from Russia’s invasion of Ukraine, ongoing COVID-19 shocks abroad and expectations of significant central bank tightening to address elevated inflation.
July 01, 2022
Surveys
Banking Conditions Survey
Loan volume growth moderated over the past six weeks amid broad increases in loan pricing.
June 27, 2022
Research Department Working Papers
The Impact of Minority Representation at Mortgage Lenders
This paper studies links between the labor market for loan officers and access to mortgage credit.
June 21, 2022
Fed liquidity facility successfully anchored commercial real estate amid pandemic
The Federal Reserve responded to the onset of the COVID-19 pandemic with several liquidity facilities to ensure a continuing flow of credit to households and businesses. The TALF, which financed highly rated asset-backed securities, proved especially important to supporting commercial real estate finance.
May 24, 2022