Research
Journal Publications
"Debt, Hedging and Human Capital" Journal of Financial Stability (June 2010), pp. 55–63 (with Stephen D. Smith).
"Determinants of Domestic and Cross Border Bank Acquisitions in the European Union" Journal of Banking and Finance (June 2009), pp. 1022–1032 (with
Ignacio Hernando and María J. Nieto).
"Bank Capital Ratios across Countries: Why Do They Vary?" Journal of Financial Services Research (December 2008), pp. 177–201 (with Elijah Brewer and
George Kaufman).
"Multiple Safety Net Regulators and Agency Problems in the EU: Is Prompt Corrective Action Partly the Solution?" Journal of Financial Stability (September
2008), pp. 165–304 (with David Mayes and María J. Nieto).
"An Analysis of the Systemic Risks Posed by Fannie Mae and Freddie Mac and an Evaluation of the Policy Options for Reducing Those Risks" Journal of Financial
Services Research (June 2007) pp. 75–99 (with Robert A. Eisenbeis and W. Scott Frame).
"Preconditions for a Successful Implementation of Supervisors' Prompt Corrective Action: Is There a Case for a Banking Standard in the EU?" Journal of Banking
Regulation (2006), pp. 191—220 (with María J. Nieto).
"Resolving Large Financial Intermediaries: Banks Versus Housing Enterprises." Journal of Financial Stability (2005) pp. 386–425 (with Robert A.
Eisenbeis and W. Scott Frame).
"How should banks account for loan losses." Journal of Accounting and Public Policy (March/April 2005), pp. 81–100 (with George J. Benston).
"Determinants of the Loan Loss Allowance: Some Cross-Country Comparisons" Financial Review (February 2004) pp. 129–152 (with Iftekhar Hasan).
"Sub-Debt Yield Spreads as Bank Risk Measures." Journal of Banking and Finance (May 2002), pp. 989–1009 (with Douglas D. Evanoff).
"Measures of the Riskiness of Banking Organizations: Subordinated Debt Yields, Risk-Based Capital, and Examination Ratings." Journal of
Financial Services Research (October 2001), pp. 121–45 (with Douglas D. Evanoff).
"Financial Regulatory Structure and the Resolution of Conflicting Goals." Journal of Financial Services Research, Sept.–Dec. 1999, v.
16, nos. 2–3, pp. 223–45 (with Robert A. Eisenbeis). Reprinted in Financial Modernization and Regulation, edited by Robert A. Eisenbeis,
Frederick T. Furlong, and Simon Kwan, Kluwer Academic Publishers, 2000.
"Managerial Rents and Regulatory Intervention in Trouble Banks," Journal of Banking and Finance 20 (March 1996), pp. 331–50 (with Thomas H.
Noe and Michael J. Rebello).
"Bank Holding Company Capital Targets in the Early 1990s: The Regulators versus the Markets," Journal of Banking and Finance 19 (June
1995), pp. 563–74 (with David R. Peterson).
"Motivations for Bank Mergers and Acquisitions: Enhancing the Deposit Insurance Put Options Versus Increasing Operating Net Cash Flow,"
Journal of Money, Credit and Banking 27 (August 1995), pp. 777–88 (with George J. Benston and William Curt Hunter).
"Valuation Effects of New Capital Issues by Large Bank Holding Companies." Journal of Financial Services Research 5 (March 1991), pp. 77–87
(with Pamela P. Peterson).
"The Effect of Continental Illinois' Failure on the Financial Performance of Other Banks." Journal of Monetary Economics 26 (July 1990),
pp. 77–99 (with David R. Peterson).
"Financial Determinants of Bank Takeovers: A Note." Journal of Money Credit and Banking 21 (November 1989), pp. 524–36 (with David C. Cheng
and Benton E. Gup).
"Alternative Explanations of Interest Rate Swaps: A Theoretical and Empirical Analysis." Financial Management 18 (Summer 1989), pp. 59–73
(with John J. Pringle).
"Interest Rate Swaps in an Agency Theoretic Model with Uncertain Interest Rates." Journal of Banking and Finance 13 (May 1989),
pp. 261–70.
"'Callable Bonds: A Risk-Reducing Signalling Mechanism': A Comment." Journal of Finance (September 1988), pp. 1057–65.
"Capital Changes at Large Affiliated Banks." Journal of Financial Services Research 1 (June 1988), pp. 253–75 (with David R. Peterson).
"The Effect of Capital Adequacy Guidelines on Large Bank Holding Companies." Journal of Banking and Finance 11 (December 1987), pp. 581–600
(with David R. Peterson).
"Has Bank Holding Companies' Diversification Affected Their Risk of Failure?" Journal of Economics and Business 39 (November 1987), pp.
313–26.
"Why Are Some Banks More Profitable Than Others?" Journal of Bank Research 15 (Winter 1985), pp. 240–56.
Other Publications
"Too Big to Fail after FDICIA" Federal Reserve Bank of Atlanta Economic Review 95, no. 1
(2010), pp. 1–16.
"Prudential Discipline for Financial Firms: Micro, Macro and Market," ADBI Working Paper Series No. 176, December 2009.
"The Final Frontier: The Integration of Banking and Commerce. Part 2:
Risk and Return Using Efficient Portfolio Analysis." Federal Reserve Bank of Atlanta Economic Review 93, no. 2 (2008), pp. 1–14
(with Alan K. Reichert and Hsin-Yu Liang).
"The Final Frontier: The Integration of Banking and Commerce. Part 1: The
Likely Outcome of Eliminating the Barrier." Federal Reserve Bank of Atlanta Economic Review 93, no. 1 (2008), pp. 1–16
(with Alan K. Reichert and Hsin-Yu Liang).
"The Integration of Banking and Commerce in the U.S.: A Portfolio Modeling Approach" Perspectives on Economics, Selected Proceeding of the Third
International Conference on Business, Management, and Economics, Yasar University, Turkey, Vol. 1, December 2007 (with Alan K. Reichert and Hsin-Yu Liang).
"Prompt Corrective Action: Is There a Case for an International Banking Standard?" International Financial Instability: Global Banking and National
Regulation, edited by Douglas D. Evanoff, George G. Kaufman, and John R. LaBrosse (October 2007): World Scientific Publishing Co. Pte. Ltd. United Kingdom.
February 2008. (With María J. Nieto.) This book is volume 2 of World Scientific Studies in International Economics.
"On Investing in the Equity of Small Firms." Journal of Small Business Management (January 2007), pp. 89–93.
"How Should Banks Account for Loan Losses?"
Federal Reserve Bank of Atlanta Economic Review (Fourth Quarter 2005), pp. 19–38 (with George Benston).
"Comment on Carter, McNulty, and Verbrugge" Journal of Financial Services Research (April–June 2004).
"Symposium on Financial Institutions." Financial Review (February 2004), pp. 1–11.
"The Major Supervisory Initiatives Post-FCICIA: Are They Based on the Goals of PCA? Should They Be?"(2002) Prompt Corrective Action in Banking: 10 Years
Later edited by George Kaufman, 109–142 (with Robert A. Eisenbeis). This book is volume 14 of Research in Financial Services: Private and Public
Policy published by JAI.
"Reforming Deposit Insurance and FDICIA."
Federal Reserve Bank of Atlanta Economic Review (First Quarter 2002), pp. 1–16 (with Robert A. Eisenbeis).
"Fannie Mae's and Freddie Mac's Voluntary
Initiatives: Lessons from Banking." Federal Reserve Bank of Atlanta Economic Review First Quarter 2002 (with W. Scott Frame).
"Financing Housing through Government-Sponsored
Enterprises." Federal Reserve Bank of Atlanta Economic Review, First Quarter 2002 (with W. Scott Frame).
Discussion in The Role of Credit Reporting Systems in the International Economy, edited by Richard M. Levich. Kluwer Academic
Publishers, 2002, pp 213–220.
"Reforming Bank Capital Regulation: Using Subordinated Debt to Enhance Market and Supervisory Discipline." Contemporary Economic Policy
(October 2001), pp. 444–53 (with Douglas D. Evanoff).
"Subordinated Debt and Bank Capital Reform." Bank Fragility and Regulation: Evidence from Different Countries, edited by George Kaufman,
pp. 53–119 (with Douglas D. Evanoff). This book is volume 12 of Research in Financial Services: Private and Public Policy, published by JAI.
"The Potential for Portfolio Diversification in Financial
Services." Federal Reserve Bank of Atlanta Economic Review (Third Quarter 2000), pp. 35–51 (with Alan K. Reichert).
Discussion in North American Actuarial Journal 4 (July 2000), pp. 130–38.
"Subordinated Debt as Bank Capital: A Proposal for
Regulatory Reform." Federal Reserve Bank of Chicago Economic Perspectives (Second Quarter 2000) (with Douglas D. Evanoff).
"Bank Loan-Loss Accounting: A Review of Theoretical and
Empirical Evidence." Federal Reserve Bank of Atlanta Economic Review (Second Quarter 2000), pp. 1–19 (with Timothy W. Koch).
"The Impact of a Dealer's Failure on OTC Derivatives Market Liquidity During Volatile Periods." Research in Banking and Finance: Volume 1,
edited by Iftekhar Hasan and William C. Hunter (2000), pp. 177–98 (with Ellis Tallman and Peter Abken).
"Supervisory Goals and Subordinated Debt." The New Financial Architecture: Banking Regulation in the 21st Century, edited by Benton
Gup (2000), pp. 145–62.
"Using Subordinated Debt as an Instrument of Market Discipline." Board of Governors of the Federal Reserve System, Washington, Staff
Study no. 172 (December 1999) (with Myron Kwast et al.).
"The Choice of Capital Instruments." Federal
Reserve Bank of Atlanta Economic Review (Second Quarter 1998), pp. 4–17.
"Taking Note of the Deposit Insurance Fund: A Plan for
the FDIC to Issue Capital Notes." Economic Review, Federal Reserve Bank of Atlanta, (First Quarter 1997) 14–30.
"Banks' Responses to Binding Regulatory Capital
Requirements." Federal Reserve Bank of Atlanta Economic Review March/April 1996 (with Pamela P. Peterson).
"Some Lessons from Basic Finance for Effective Socially
Responsible Investing." Federal Reserve Bank of Atlanta Economic Review (January/February 1995), pp. 1–12.
"Some Lessons from Finance for State and Local Government Development Programs." Federal Reserve Bank of Atlanta Economic Review
(January/February 1994), pp. 1–10 (with Sheila L. Tschinkel).
"Deregulation and the Opportunities for Commercial Bank Diversification." Federal Reserve Bank of Atlanta Economic Review
(September/October 1993), pp. 1–25 (with Alan K. Reichert and Sunil Mohanty). Reprinted in Readings in Financial Institutions and Markets,
eighth edition. Edited by Peter S. Rose, forthcoming.
"Book Review of The Swaps Market," Journal of Finance (December 1993), pp. 2038–41.
"‘Too-Big-To-Fail' After FDICIA." Federal Reserve Bank of Atlanta Economic Review (January/February 1993), pp. 1–14. Reprinted in
Readings in Financial Institutions and Markets, seventh edition. Edited by Peter S. Rose, forthcoming.
"Interest Rate Swaps." The New Palgrave Dictionary of Money and Finance, edited by Peter Newman, Murray Milgate and John Eatwell
(1992), vol. 2, pp. 445–556.
"Government Deposit Insurance: Problems and Prospects." Emerging Challenges for the International Financial Services Industry
(1992), pp. 157–76. Edited by James Barth and Phillip Bartholomew.
"Financial Panics, Bank Failures and the Role of Regulatory Policy." Federal Reserve Bank of Atlanta Economic Review (January/February
1992), pp. 1–11 (with Stephen D. Smith). Reprinted in The Financial Institutions and Markets Reader, second edition. Edited by Robert W.
Kolb. Kolb Publishing Company, 1993.
"Recourse Risk in Asset Sales." Federal Reserve Bank of Atlanta Economic Review (September/October 1991), pp. 1–13.
Reprinted in Readings on Financial Institutions and Markets. Edited by Peter S. Rose. Richard D. Irwin, Inc, 1993.
"Capital Requirements for Interest Rate and Foreign-Exchange Hedges." Federal Reserve Bank of Atlanta Economic Review (May/June 1990),
pp. 14–28 (with John J. Pringle and James E. McNulty).
"Interest Rate Swap Credit Exposure and Capital Requirements." Interest Rate and Currency Swaps, edited by Carl Beidleman, Dow
Jones-Irwin (1991), pp. 407–29 (with John J. Pringle and James E. McNulty).
"Book Review of The Separation of Commercial and Investment Banking: The Glass-Steagal Act Revisited and Reconsidered." Federal Reserve Bank of
Atlanta Economic Review (March/Aril 1990), pp. 41–9.
"Bank Merger Motivations: A Review of the Evidence and An Examination of Key Target Bank Characteristics." Federal Reserve Bank of Atlanta
Economic Review (September/October 1989), pp. 2–19 (with William C. Hunter).
"A Puttable Subordinated Debt Plan for Reducing Future Deposit Insurance Losses." Federal Reserve Bank of Atlanta Economic Review
(July/August 1989), pp. 2–17.
"Regional Differences in Bank Merger Pricing." Bank Mergers: Current Issues and Perspectives (1989), pp. 69–86
(with Benton E. Gup, David C. Cheng and Kartono Liano).
"Market Valuation Effects of Bank Acquisitions." Bank Mergers: Current Issues and Perspectives (1989), pp. 107–20 (with Benton E. Gup).
"Capital Requirements for Banks: A Look at the 1981 and 1988 Standards." Federal Reserve Bank of Atlanta Economic Review (March/April
1989), pp. 14–29.
"Interest Rate Swaps: A Review of the Issues." Federal Reserve Bank of Atlanta Economic Review (November/December 1988), pp. 22–40.
Reprinted in The Handbook of Financial Engineering: New Financial Product Innovations, Applications and Analyses. Edited by Clifford W.
Smith Jr. and Charles W. Smithson. Harper & Row, 1990. Also reprinted in Readings on Financial Institutions and Markets. Edited by Donald
Fraser and Peter S. Rose. Richard D. Irwin Inc., 1990. Also reprinted in The Commercial Bank Management Reader. Edited by Robert W. Kolb.
Kolb Publishing Company, 1992. Also reprinted in The Financial Derivatives Reader. Edited by Robert W. Kolb. Kolb Publishing Company,
1992.
"Leverage Ratios of Domestic Nonfinancial Corporations." Federal Reserve Bank of Atlanta Economic Review (May/June 1988), pp. 12–29.
"Commercial Bank Profitability: Some Disturbing Trends." Federal Reserve Bank of Atlanta Economic Review 72 (March/April 1986),
pp. 24–36.
"Nonbank Activities and Risk." Federal Reserve Bank of Atlanta Economic Review 71 (October 1986), pp. 19–34.
"Profits in '85: Large Banks Gain While Others Continue to Lag." Federal Reserve Bank of Atlanta Economic Review 71 (August/September
1986).
"Regulation of Banks' Equity Capital." Federal Reserve Bank of Atlanta Economic Review 70 (November 1985), pp. 4–18. Reprinted in
Current Readings on Money, Banking and Financial Markets: 1987 Edition. Edited by James A. Wilcox. Little, Brown and Company, 1987.
"Profitability: S.E. Banks Fare Better Than Most." Federal Reserve Bank of Atlanta Economic Review 70 (June/July 1985), pp. 18–29.
"Affiliated Bank Capital." Federal Reserve Bank of Atlanta Economic Review 70 (April 1985), pp. 12–19.
"Money Market Account Competition." Federal Reserve Bank of Atlanta Economic Review 69 (December 1984), pp. 4–14 (with Harold D. Ford.)
"Insulating Banks from Nonbank Affiliates." Federal Reserve Bank of Atlanta Economic Review 69 (September 1984), pp. 18–28.
"Commercial Bank Profitability in 1983." Federal Reserve Bank of Atlanta Economic Review 69 (June 1984), pp. 18–29.
"Risk Considerations in Deregulating Bank Activities." Federal Reserve Bank of Atlanta Economic Review 69 (May 1984), pp. 6–19
(with Robert A. Eisenbeis). Reprinted in Financial Institutions and Markets in a Changing World. Edited by Donald R. Fraser and Peter S. Rose. Business
Publications Inc.
"Deposit Insurance Reform: An Analysis of the Insuring Agencies Proposals." Federal Reserve Bank of Atlanta Economic Review 69 (March
1984), pp. 26–39. Reprinted in Dynamics of Banking. Edited by Thomas M. Havrilesky, Robert Schweitzer and John T. Boorman. Arlington Heights,
Illinois: Harlan Davidson Inc., 1985.
"The Future of Deposit Insurance: The Insuring Agencies Proposals." Federal Reserve Bank of Atlanta Economic Review 69 (January 1984),
pp. 43–57. Translated into German and reprinted in Kredit und Kapital (1985), pp. 114–39.
"Why Are Some Banks More Profitable? A Statistical Cost Analysis." Federal Reserve Bank of Atlanta Economic Review 68 (October 1983),
pp. 44–51. Reprinted in The Examiner, Official Publication of the Society of Financial Examiners, Summer 1984.
"Why Are Some Banks More Profitable?" Federal Reserve Bank of Atlanta Economic Review 68 (September 1983), pp. 42–8.
Reprinted in The Examiner, Official Publication of the Society of Financial Examiners, Spring 1984.
"Commercial Bank Profits: Southeastern Banks Fare Well." Federal Reserve Bank of Atlanta Economic Review 68 (July 1983), pp. 22–35.
"Will Bank Capital Adequacy Restrictions Slow the Development of Interstate Banking?" Federal Reserve Bank of Atlanta Economic Review
68 (May 1983), pp. 46–54.
Working Papers in Proceedings of a Conference on Bank Structure and Competition
"The Role of Subordinated Debt in Bank Safety and Soundness Regulation." Bank Structure and Competition Conference, sponsored by the Federal
Reserve Bank of Chicago (with Douglas D. Evanoff), 2000, pp. 480–93.
"Banks' Discretionary Loan Loss Provisions: How Important Are Constraints and Asymmetries." Bank Structure and Competition Conference, sponsored
by the Federal Reserve Bank of Chicago (with Peter Abken and Ellis Tallman), 1999, pp. 99–112.
"The Impact of a Dealer's Failure on OTC Derivatives Market Liquidity During Volatile Periods," Bank Structure and Competition Conference,
sponsored by the Federal Reserve Bank of Chicago (with Peter Abken and Ellis Tallman), 1997, pp. 357–73.
"Rents, Regulation and Risk-Taking in the Banking Industry," Bank Structure and Competition Conference, sponsored by the Federal Reserve Bank of
Chicago (with Thomas Noe and Michael Rebello), 1993, pp. 224–34.
"Competition for More than One Class of Borrowers Using Different Credit-Worthiness Tests." Bank Structure and Competition Conference, sponsored
by the Federal Reserve Bank of Chicago, 1992, pp. 253–76.
"Valuation Effects of New Capital Issues by Large Bank Holding Companies," Bank Structure and Competition Conference, sponsored by the Federal
Reserve Bank of Chicago (with Pamela P. Peterson), 1989, pp. 117–40.
"Alternative Explanations of Interest Rate Swaps." Bank Structure and Competition Conference, sponsored by the Federal Reserve Bank of Chicago,
May 1987 (with John J. Pringle), 1987, pp. 186–205.
"Holding Company Diversification and Risk." Bank Structure and Competition Conference, sponsored by the Federal Reserve Bank of Chicago, April
1984 (with Robert A. Eisenbeis), 1984, pp. 340–57.
Atlanta Fed Working Papers
2011-6
Creating an EU-Level Supervisor for Cross-Border Banking Groups: Issues Raised by the U.S. Experience with Dual Banking
Larry D. Wall, María J. Nieto, and David Mayes
March 2011
Abstract || Full text in PDF
2010-9
Prudential Discipline for Financial Firms: Micro, Macro, and Market Structures
Larry D. Wall
March 2010
Abstract || Full text in PDF
2010-5
What Do Premiums Paid for Bank M&As Reflect? The Case of the European Union
Jens Hagendorff, Ignacio Hernando, Maria J. Nieto, and Larry D. Wall
March 2010
Abstract ||
Full text in PDF
2008-27
Bank Capital Ratios across Countries: Why Do They Vary?
Elijah Brewer III, George G. Kaufman, and Larry D. Wall
December 2008
Abstract ||
Full text in PDF
2008-26
Determinants of Domestic and Cross-Border Bank Acquisitions in the European Union
Ignacio Hernando, María J. Nieto, and Larry D. Wall
December 2008
Abstract ||
Full text in PDF
2007-9
Multiple Safety Net Regulators and Agency Problems in the European Union: Is Prompt Corrective Action Partly the Solution?
David G. Mayes, María J. Nieto, and Larry Wall
May 2007
Abstract ||
Full text in PDF
2006-28
When Target CEOs Contract with Acquirers: Evidence from Bank Mergers and Acquisitions
Elijah Brewer III, William E. Jackson III, and Larry D. Wall
December 2006
Abstract ||
Full text in PDF
2006-27
Preconditions for a Successful Implementation of Supervisors' Prompt Corrective Action: Is There a Case for a Banking Standard in the
European Union?
María J. Nieto and Larry D. Wall
December 2006
Abstract ||
Full text in PDF
2006-2
An Analysis of the Systemic Risks Posed by Fannie Mae and Freddie Mac and an Evaluation of the Policy Options for Reducing Those Risks
Robert A. Eisenbeis, W. Scott Frame, and Larry D. Wall
March 2006
Abstract ||
Full text in PDF
2005-30
Debt, Hedging, and Human Capital
Stephen D. Smith and Larry D. Wall
December 2005
Abstract ||
Full text in PDF
2004-23a
Resolving Large Financial Intermediaries: Banks Versus Housing Enterprises
Robert A. Eisenbeis, W. Scott Frame, and Larry D. Wall
Revised October 2004
Abstract ||
Full text in PDF
2002-31
The Major Supervisory Initiatives Post-FDICIA: Are They Based on the Goals of PCA? Should They Be?
Robert A. Eisenbeis and Larry D. Wall
December 2002
Abstract ||
Full text in PDF (143 KB)
2002-18
Subordinated Debt and Prompt Corrective Regulatory Action
Douglas D. Evanoff and Larry D. Wall
August 2002
Abstract ||
Full text in PDF (115 KB)
2001-25
Measures of the Riskiness of Banking Organizations: Subordinated Debt Yields, Risk-Based Capital, and Examination Ratings
Douglas D. Evanoff and Larry D. Wall
November 2001
Abstract ||
Full text in PDF (141 KB)
2001-11
Sub-Debt Yield Spreads as Bank Risk Measures
Douglas D. Evanoff and Larry D. Wall
May 2001
Abstract ||
Full text in PDF (228 KB)
2000-25
Managing the Risk of Loans with Basis Risk: Sell, Hedge, or Do Nothing?
Larry D. Wall and Milind M. Shrikhande
November 2000
Abstract ||
Full text in PDF (149 KB)
2000-24
Subordinated Debt and Bank Capital Reform
Douglas D. Evanoff and Larry D. Wall
November 2000
Abstract ||
Full text in PDF (253 KB)
2000-23
The Use of Accruals to Manage Reported Earnings: Theory and Evidence
Timothy W. Koch and Larry D. Wall
November 2000
Abstract ||
Full text in PDF (190 KB)
96-6
The Impact of a Dealer's Failure on OTC Derivatives Market Liquidity during Volatile Periods
Larry D. Wall, Ellis W. Tallman, and Peter A. Abken
June 1996
Abstract ||
Full text in PDF
Work in Progress
"Financial Regulatory Structure and the Resolution of Conflicting Goals," with Robert A. Eisenbeis.
"Bank's Discretionary Loan Loss Provisions: How Important Are Constraints and Asymmetries?" with Timothy W. Koch.
"Credit Derivatives," with Milind Shirkhande.
Larry Wall