Arbeitspapier

How bad are weather disasters for banks?

Not very. We find that weather disasters over the last quarter century had insignificant or small effects on U.S. banks' performance. This stability seems endogenous rather than a mere reflection of federal aid. Disasters increase loan demand, which offsets losses and actually boosts profits at larger banks. Local banks tend to avoid mortgage lending where floods are more common than official flood maps would predict, suggesting that local knowledge may also mitigate disaster impacts.

Sprache
Englisch

Erschienen in
Series: Staff Report ; No. 990

Klassifikation
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Disaster Aid
Thema
hurricanes
wildfires
floods
climate change
weather disasters
FEMA
banks
financial stability
local knowledge

Ereignis
Geistige Schöpfung
(wer)
Blickle, Kristian
Hamerling, Sarah N.
Morgan, Donald P.
Ereignis
Veröffentlichung
(wer)
Federal Reserve Bank of New York
(wo)
New York, NY
(wann)
2021

Handle
Letzte Aktualisierung
10.03.2025, 11:45 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Blickle, Kristian
  • Hamerling, Sarah N.
  • Morgan, Donald P.
  • Federal Reserve Bank of New York

Entstanden

  • 2021

Ähnliche Objekte (12)

function(){return value;}