University of Illinois Urbana-Champaign

Short-Run Borrowing Behavior of Large Commercial Banks

Stellaccio, Joseph Louis

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https://hdl.handle.net/2142/68372

Description

Title
Short-Run Borrowing Behavior of Large Commercial Banks
Author(s)
Stellaccio, Joseph Louis
Issue Date
1980
Department of Study
Finance
Discipline
Finance
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, Finance
Language
eng
Abstract
  • This study examines the relative importance of the need and profit motives as determinants of short-run bank borrowing behavior.
  • A model is developed which accounts for the funds secured from the sources made available by liability management; specifically: borrowing from the Federal Reserve, federal funds, certificates of deposit, eurodollars, as well as the traditional sale of treasury bills.
  • Five equations are developed, each including the proxies developed for need and profit. Each equation also incorporates the alternate sources which are acceptable substitutes for each sourece.
  • The equations are estimated in two ways: woth ordinary least-squares and two-stage least-squares. The results, which are similar with each method, suggest need, and not profit considerations, play the dominate role in the short-run borrowing decision. The better performance of the model with two-stage least squares supports the hypothesis that the borrowing decision is made by simultaneously considering both need and profit and all available sources.
Graduation Semester
1980
Type of Resource
text
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http://hdl.handle.net/2142/68372

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