Changes in Reserve Requirements and Brazilian Banks' Stocks

Bruno De Lorenzi Cancelier Mazzucco () and Roberto Meurer ()
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Bruno De Lorenzi Cancelier Mazzucco: Universidade Federal de Santa Catarina

Brazilian Review of Finance, 2013, vol. 11, issue 3, 399-420

Abstract: In this study we tested the hypothesis that part of reserve requirements’ costs is paid by banks’ stockholders, instead of only by depositors and borrowers. Through an event study of fourteen regulatory changes between 1998 and 2010, we investigated the existence of abnormal returns. The results suggest that stockholders share the costs.

Keywords: Event study; reserve requirements; Brazilian banks (search for similar items in EconPapers)
JEL-codes: E52 E59 (search for similar items in EconPapers)
Date: 2013
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