1. Climate Transition Risks of Banks  with F. Martini, Z. Sautner and S. Steffen

SFI Research Paper Series N23-66

• Develops a "bottom-up" measure of U.S. banks' exposures to climate transition risks from the carbon footprint of their syndicated loan portfolios.

2. Sharing the Burden Equally? Intra-Group Effects of Bank Capital Requirements with H. Degryse and M. Mariathasan

CEPR Discussion Paper 18443

• Documents that (especially weaker) subsidiaries of banking groups subject to increased group-level capital requirements reduce RWAs and credit supply more than parents do. Suggests that affiliation to multinational banking group does not necessarily provide stability to subsidiaries.

3. The Walking Debt: Lifeline Support by State-Owned Banks with M. Schepers

Link to SSRN Working Paper

• Establishes that state-owned banks cyclically adjust credit allocation to target financially distressed "zombie" firms to steer reelection outcomes.