作者：Ryan, Stephen G.
作者单位：New York University
摘要：Basu, Roychowdhury, and Sinha (BRS, this issue) examine effects of U.S. bank regulators' provision of guidance regarding the incorporation of the current expected credit loss (CECL) approach in capital regulation two and a half years after the issuance of ASU 2016-13. BRS argue and provide evidence that, for CECL-adopting banks and their borrowers in syndicated corporate loans, this lagged provision of guidance adversely affected (1) the amounts and interest rates for more affected term loan A...
作者：Tantri, Prasanna; Vishen, Nitin
作者单位：Indian School of Business (ISB); Indian Institute of Management (IIM System); Indian Institute of Management Bangalore
摘要：We study the impact of transparency about banks' costs on loan interest rates. The Indian Central Bank required banks to disclose a cost-based benchmark interest rate instead of the prime rate. The banks could price loans using any spread to the cost-based benchmark. We find that this change, which made banks' cost structures more transparent, lowers the interest rates charged and leads to increases in debtor firms' total borrowings and investments. We hypothesize that increased cost transpare...
