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Raising capital when the going gets tough: U.S. bank equity issuance from 2001 to 2014

Lamont K. Black, Ioannis Floros and Rajdeep Sengupta

No RWP 16-5, Research Working Paper from Federal Reserve Bank of Kansas City

Abstract: The authors studied bank equity issuance during 2001?14 by publicly traded U.S. banks through seasoned equity offerings (SEOs), private investment in public equity (PIPEs), and the Troubled Asset Relief Program (TARP). Results show that private investors were an active and important source of bank recapitalization in the United States as issuance through SEOs and PIPEs peaked in the recent crisis.

Keywords: Bank equity; Commercial banks; Equity issuance; Financial crisis; Troubled Asset Relief Program (TARP) (search for similar items in EconPapers)
JEL-codes: G28 G32 G21 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2016-06-01, Revised 2016-06-01
New Economics Papers: this item is included in nep-ban, nep-cfn and nep-fmk
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