Credit spreads and subordinated debt

Joseph Haubrich and James Thomson

Economic Commentary, 2007, issue Mar

Abstract: Stock and bond prices contain all sorts of information about investors? beliefs and expectations. For example, the interest rate on bank debt not insured by the FDIC has information about the health of the banks issuing the debt. Unfortunately, difficulties in extracting information from these subordinated debt prices reduces the information? usefulness to regulators and policymakers.

Keywords: Deposit insurance; Bank capital (search for similar items in EconPapers)
Date: 2007
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