This working paper seeks to inform this debate by assessing evidence of funding cost differentials from 2009-2013 among senior unsecured bonds of US Bank Holding Companies (BHCs).
The working paper describes one result from a broader effort to review and update the empirical evidence of TBTF among US banking institutions. Our aim is to build on the most promising research on funding costs to develop a robust view of TBTF perceptions using the latest available information.
This study was sponsored by The Clearing House Association. All findings and recommendations are solely our own.