Small bank lending in the era of fintech and shadow banks: a sideshow?

Amid the emerging dominance of nonbanks, small banks use key financing advantages to persist in the mortgage market. We provide evidence of the heterogeneous impact of two shocks to the supply of mortgage credit: postcrisis regulatory burden and GSE financing cost changes. Small banks exploit regula...

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Veröffentlicht in:	The Review of financial studies 2022-11, Vol.35 (11), p.4948-4984
1. Verfasser:	Begley, Taylor A
Format:	Artikel
Sprache:	eng
Schlagworte:	2008-2014 Bank Bankenregulierung Betriebsgröße Finanztechnologie Hypothek Informeller Finanzsektor Kapitalkosten USA
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description	Amid the emerging dominance of nonbanks, small banks use key financing advantages to persist in the mortgage market. We provide evidence of the heterogeneous impact of two shocks to the supply of mortgage credit: postcrisis regulatory burden and GSE financing cost changes. Small banks exploit regulation disproportionately affecting the largest four banks (Big4) and their ability to lend on balance sheet to strongly substitute for the retreating Big4. The erasure of guarantee fee (g-fee) discounts for large lenders facilitates small bank growth in GSE lending. Small banks also grow balance sheet loans in areas more exposed to g-fee hikes.
doi_str_mv	10.1093/rfs/hhac038
format	Article
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source	Oxford University Press Journals All Titles (1996-Current); Business Source Complete
subjects	2008-2014 Bank Bankenregulierung Betriebsgröße Finanztechnologie Hypothek Informeller Finanzsektor Kapitalkosten USA
title	Small bank lending in the era of fintech and shadow banks: a sideshow?
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