Loan Sales , Implicit Contracts , and Bank Structure
نویسندگان
چکیده
We document some recent changes in the market for loan sales. We use a Tobit model to characterize the determinants of loan sales and purchases by banks, relating quantities bought and sold to bank size, capital, risk, and fbnding mode. The results, though not definitive, broadly confirm the Pennacchi model of sales. Other data cast doubt on the importance of mergers and acquisitions for this market and on the comparability of different data sources. http://www.clevelandfed.org/Research/Workpaper/Index.cfm
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