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  • Franco Fiordelisi
    University of Rome III, Faculty of Economics, Rome
  • Ornella Ricci
    University of Rome III, Faculty of Economics, Rome
  • Francesco Saverio Stentella Lopes
The launch of the Single Supervisory Mechanism (SSM) was an historic event. Beginning in Nov. 2014, the most significant banks came under the direct supervision of the European Central Bank, while national supervisory authorities maintained direct supervision of the remaining banks. Thus, supervision is conducted on two levels, which could cause inconsistency problems.
Did the behavior of the significant banks differ from that of the less significant banks during the SSM launch? We find that the significant banks reduced their lending activity more than the less significant banks did in order to shrink their balance sheets and increase their capitalization.
Original languageEnglish
Pages (from-to)2809-2836
JournalJournal of Financial and Quantitative Analysis
Issue number6
Publication statusPublished - 27 Dec 2017

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