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February 10th, 2014 at 5:48 pm
From Bloomberg, Feb 10, 2014, 3:24:58 PM
I enjoyed this blog post by the New York Fed’s João A.C. Santos, and this related paper by Santos and two other authors,1 about how banks are getting lazier about lending. The story is that in recent years there’s been a trend toward market-based pricing in bank loans to large investment-grade companies: Instead of saying “you can borrow at Libor plus 1 percent,” banks will tell those companies “you can borrow at Libor plus your one-year credit default swap spread.”
To read the entire article, go to http://www.bloomberg.com/news/2014-02-10/fed-researcher-thinks-banks-are-getting-lazier.html
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