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Working Paper
An analysis of the use of loan sales and standby letters of credit by commercial banks

Working Papers in Applied Economic Theory , Paper 87-09

Journal Article
Standby letters of credit

FRBSF Economic Letter

Journal Article
Off-balance sheet banking

FRBSF Economic Letter

Journal Article
Off-balance sheet banking

Economic Review , Issue Fall , Pages 21-36

Journal Article
Off balance sheet risk in banking: the case of standby letters of credit

Economic Review , Issue Win , Pages 19-29

Discussion Paper
Securitization with recourse: an instrument that offers uninsured bank depositors sequential claims

Research Papers in Banking and Financial Economics , Paper 97

Discussion Paper
Substituting loan insurance for intermediation: the private and social benefits of standby letters of credit

Research Papers in Banking and Financial Economics , Paper 92

Discussion Paper
An empirical analysis of standby letters of credit

Research Papers in Banking and Financial Economics , Paper 85

Working Paper
Risk-based capital and off-balance sheet activities

Finance and Economics Discussion Series , Paper 35

Working Paper
International Trade Risk and the Role of Banks

International trade exposes exporters and importers to substantial risks. To mitigate these risks, firms can buy special trade finance products from banks. This paper explores under which conditions and to what extent firms use these products. We find that letters of credit and documentary collections cover about 10 percent of U.S. exports and are preferred for larger transactions, indicating substantial fixed costs. Letters of credit are employed the most for exports to countries with intermediate contract enforcement. Compared to documentary collections, they are used for riskier ...
International Finance Discussion Papers , Paper 1151

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