FRB: Finance and Economics Discussion Series: Data

Exhibit 1 Data: Contributions to growth in total loans at domestic banks by CAMELS ratings (four-quarter percent change)

Date	Weak Banks	Strong Banks
1988q1	-0.58	5.96
1988q2	-0.72	6.12
1988q3	-0.65	5.39
1988q4	-0.36	5.79
1989q1	-0.06	5.78
1989q2	-0.01	6.08
1989q3	0.06	6.99
1989q4	-0.01	6.61
1990q1	-0.46	6.06
1990q2	-0.84	4.68
1990q3	-1.33	3.88
1990q4	-2.15	2.86
1991q1	-2.57	1.98
1991q2	-3.41	1.18
1991q3	-3.88	-0.17
1991q4	-3.79	-0.51
1992q1	-4.15	-0.02
1992q2	-3.32	0.02
1992q3	-2.40	0.69
1992q4	-2.19	0.58
1993q1	-2.02	0.82
1993q2	-1.44	2.48
1993q3	-0.92	3.32
1993q4	-0.09	4.88
1994q1	0.09	5.84
1994q2	0.31	5.99
1994q3	0.19	7.01
1994q4	0.37	7.67
1995q1	-0.11	10.28
1995q2	-0.07	10.71
1995q3	0.00	10.21
1995q4	0.01	8.89
1996q1	0.02	7.06
1996q2	0.01	6.72
1996q3	0.02	6.43
1996q4	0.05	6.87
1997q1	0.02	4.06
1997q2	-0.00	4.94
1997q3	0.04	4.37
1997q4	0.08	3.53
1998q1	-0.04	7.35
1998q2	-0.05	6.35
1998q3	-0.02	6.95
1998q4	0.08	7.64
1999q1	-0.02	6.54
1999q2	0.09	6.15
1999q3	0.06	6.13
1999q4	0.07	7.05
2000q1	-0.04	8.43
2000q2	0.34	9.83
2000q3	0.32	10.37
2000q4	0.16	7.72
2001q1	0.19	6.38
2001q2	0.03	3.42
2001q3	-0.03	1.58
2001q4	0.01	1.26
2002q1	-0.22	0.92
2002q2	-0.29	1.56
2002q3	-0.30	4.14
2002q4	-0.23	6.13
2003q1	-0.03	6.99
2003q2	0.05	8.19
2003q3	0.09	6.52
2003q4	0.02	5.99
2004q1	-0.06	6.66
2004q2	0.05	7.53
2004q3	0.09	9.37
2004q4	0.12	9.50
2005q1	0.11	9.47
2005q2	0.04	8.84
2005q3	0.11	8.96
2005q4	0.08	9.06
2006q1	0.08	9.38
2006q2	0.05	9.54
2006q3	0.05	8.62
2006q4	0.03	8.71
2007q1	0.06	7.69
2007q2	0.06	7.49
2007q3	0.05	9.62
2007q4	0.08	11.46
2008q1	0.10	10.84
2008q2	0.11	7.84
2008q3	-0.79	5.71
2008q4	-2.01	1.46
2009q1	-3.03	0.03
2009q2	-3.74	-0.95
2009q3	-4.76	-2.97
2009q4	-4.59	-3.60
2010q1	-4.33	-4.33
2010q2	-4.93	-4.04
2010q3	-3.62	-2.87
2010q4	-2.93	-1.54
2011q1	-2.23	-1.30
2011q2	-0.69	-0.34

Return to Figure 1

Exhibit 2 Data: Distribution of bank exams

Number of Exams	Number of Banks
5	690
6	661
7	542
8	483
9	391
10	357
11	322
12	348
13	471
14	647
15	682
16	656
17	512
18	398
19	257
20	200
21	166
22	142
23	144
24	168
25	152
26	134
27	112
28	83
29	60
30	48
31	30
32	13
33	10
34	7
35	1
36	4
37	2
38	1

Return to Figure 2

Exhibit 3a Data: Average and Distribution of CAMELS Ratings

Date	Grouped Data	Quarterly Data
1991Q3		2.09
1991Q4		2.07
1992Q1		2.04
1992Q2		2.01
1992Q3		2.00
1992Q4	1.90	1.95
1993Q1	1.86	1.89
1993Q2	1.83	1.84
1993Q3	1.79	1.82
1993Q4	1.77	1.81
1994Q1	1.75	1.77
1994Q2	1.73	1.77
1994Q3	1.71	1.73
1994Q4	1.70	1.73
1995Q1	1.68	1.71
1995Q2	1.66	1.70
1995Q3	1.63	1.66
1995Q4	1.62	1.64
1996Q1	1.61	1.64
1996Q2	1.60	1.61
1996Q3	1.59	1.59
1996Q4	1.58	1.57
1997Q1	1.57	1.61
1997Q2	1.56	1.59
1997Q3	1.56	1.55
1997Q4	1.56	1.56
1998Q1	1.56	1.59
1998Q2	1.56	1.58
1998Q3	1.58	1.61
1998Q4	1.59	1.63
1999Q1	1.60	1.64
1999Q2	1.60	1.62
1999Q3	1.61	1.64
1999Q4	1.62	1.62
2000Q1	1.63	1.66
2000Q2	1.63	1.69
2000Q3	1.64	1.65
2000Q4	1.65	1.67
2001Q1	1.66	1.70
2001Q2	1.67	1.71
2001Q3	1.69	1.71
2001Q4	1.69	1.73
2002Q1	1.70	1.74
2002Q2	1.70	1.72
2002Q3	1.70	1.73
2002Q4	1.70	1.74
2003Q1	1.71	1.74
2003Q2	1.70	1.73
2003Q3	1.70	1.72
2003Q4	1.69	1.73
2004Q1	1.69	1.73
2004Q2	1.69	1.72
2004Q3	1.69	1.70
2004Q4	1.69	1.74
2005Q1	1.69	1.70
2005Q2	1.68	1.72
2005Q3	1.68	1.70
2005Q4	1.67	1.65
2006Q1	1.68	1.74
2006Q2	1.68	1.69
2006Q3	1.68	1.69
2006Q4	1.69	1.69
2007Q1	1.70	1.75
2007Q2	1.71	1.71
2007Q3	1.74	1.75
2007Q4	1.76	1.74
2008Q1	1.81	1.90
2008Q2	1.85	1.89
2008Q3	1.91	1.97
2008Q4	1.97	2.02
2009Q1	2.04	2.14
2009Q2	2.09	2.13
2009Q3	2.14	2.29
2009Q4	2.18	2.23
2010Q1	2.20	2.29
2010Q2	2.20	2.38
2010Q3	2.19	2.29
2010Q4	2.19	2.26
2011Q1		2.31
2011Q2		2.26

Return to Figure 3a

Exhibit 3b Data: Average and Distribution of CAMELS Ratings

Date	CAMELS = 1	CAMELS = 2
1991Q3	17.20	52.67
1991Q4	17.20	51.50
1992Q1	19.18	53.70
1992Q2	19.71	55.42
1992Q3	20.02	56.21
1992Q4	20.88	57.25
1993Q1	25.68	56.74
1993Q2	28.13	56.78
1993Q3	29.06	57.44
1993Q4	28.91	57.85
1994Q1	31.63	57.89
1994Q2	33.44	55.83
1994Q3	33.83	56.79
1994Q4	35.30	54.49
1995Q1	34.81	56.71
1995Q2	37.41	54.50
1995Q3	39.67	53.78
1995Q4	41.77	51.11
1996Q1	40.64	53.54
1996Q2	43.83	49.73
1996Q3	45.21	50.00
1996Q4	45.69	48.53
1997Q1	42.52	51.80
1997Q2	45.37	49.25
1997Q3	47.25	47.78
1997Q4	46.04	48.85
1998Q1	45.14	48.86
1998Q2	45.23	49.05
1998Q3	43.83	50.08
1998Q4	41.21	51.95
1999Q1	41.11	52.60
1999Q2	41.30	50.74
1999Q3	42.19	50.52
1999Q4	41.63	51.41
2000Q1	38.09	54.43
2000Q2	38.12	53.81
2000Q3	38.88	54.49
2000Q4	36.84	56.16
2001Q1	36.41	56.85
2001Q2	36.03	56.21
2001Q3	34.20	58.72
2001Q4	32.64	58.99
2002Q1	34.21	57.28
2002Q2	34.76	57.33
2002Q3	34.71	57.26
2002Q4	32.60	58.95
2003Q1	34.84	56.08
2003Q2	33.27	58.88
2003Q3	34.90	56.92
2003Q4	33.97	58.42
2004Q1	35.08	56.78
2004Q2	33.57	58.19
2004Q3	34.75	58.02
2004Q4	32.36	59.90
2005Q1	34.32	57.95
2005Q2	33.99	59.22
2005Q3	34.11	60.38
2005Q4	37.02	57.26
2006Q1	32.59	60.26
2006Q2	33.52	60.20
2006Q3	34.24	59.79
2006Q4	32.11	61.65
2007Q1	30.24	61.16
2007Q2	31.02	61.29
2007Q3	30.62	60.31
2007Q4	28.51	61.51
2008Q1	26.10	57.16
2008Q2	24.06	56.55
2008Q3	21.46	57.82
2008Q4	20.53	52.96
2009Q1	17.09	49.76
2009Q2	16.40	49.64
2009Q3	15.15	45.15
2009Q4	14.58	48.02
2010Q1	14.70	43.31
2010Q2	12.24	44.63
2010Q3	13.53	46.33
2010Q4	16.00	44.19
2011Q1	13.30	48.18
2011Q2	14.58	48.07

Return to Figure 3b

Exhibit 3c Data: Average and Distribution of CAMELS Ratings

Date	CAMELS = 3	CAMELS = 4	CAMELS = 5
1991Q3	19.49	8.46	2.19
1991Q4	19.11	9.18	3.00
1992Q1	17.90	7.02	2.19
1992Q2	16.33	7.08	1.46
1992Q3	16.02	6.16	1.59
1992Q4	14.76	5.73	1.38
1993Q1	12.46	3.69	1.44
1993Q2	10.46	3.68	0.96
1993Q3	9.75	3.09	0.66
1993Q4	9.09	3.39	0.77
1994Q1	7.27	2.58	0.62
1994Q2	7.71	2.36	0.67
1994Q3	6.67	2.12	0.60
1994Q4	7.52	2.11	0.58
1995Q1	6.73	1.22	0.54
1995Q2	6.14	1.62	0.33
1995Q3	4.65	1.54	0.37
1995Q4	5.09	1.37	0.66
1996Q1	4.85	0.77	0.19
1996Q2	5.32	0.80	0.31
1996Q3	3.56	0.96	0.27
1996Q4	4.66	0.93	0.20
1997Q1	4.31	1.11	0.27
1997Q2	4.43	0.80	0.15
1997Q3	3.67	1.06	0.24
1997Q4	3.96	1.03	0.11
1998Q1	4.86	1.05	0.10
1998Q2	4.03	1.43	0.26
1998Q3	5.14	0.79	0.16
1998Q4	5.43	1.04	0.37
1999Q1	4.86	1.19	0.24
1999Q2	6.44	1.13	0.39
1999Q3	5.91	1.28	0.09
1999Q4	5.75	0.86	0.35
2000Q1	5.96	1.34	0.17
2000Q2	6.89	0.95	0.23
2000Q3	5.51	0.96	0.16
2000Q4	5.89	1.08	0.03
2001Q1	5.82	0.83	0.09
2001Q2	6.45	1.00	0.31
2001Q3	5.59	1.33	0.16
2001Q4	6.76	1.37	0.23
2002Q1	6.76	1.63	0.13
2002Q2	6.15	1.60	0.16
2002Q3	6.63	1.27	0.13
2002Q4	6.72	1.44	0.30
2003Q1	7.38	1.42	0.28
2003Q2	6.46	1.28	0.11
2003Q3	6.48	1.33	0.37
2003Q4	6.67	0.81	0.13
2004Q1	6.80	1.30	0.04
2004Q2	6.56	1.42	0.25
2004Q3	6.12	0.85	0.25
2004Q4	7.13	0.55	0.06
2005Q1	6.74	0.99	0.00
2005Q2	5.51	1.10	0.18
2005Q3	4.99	0.52	0.00
2005Q4	4.56	1.09	0.06
2006Q1	6.39	0.76	0.00
2006Q2	5.32	0.95	0.00
2006Q3	4.91	0.93	0.12
2006Q4	5.12	0.98	0.13
2007Q1	7.17	1.24	0.19
2007Q2	6.41	0.94	0.34
2007Q3	7.20	1.67	0.20
2007Q4	7.40	2.38	0.20
2008Q1	12.60	3.69	0.45
2008Q2	14.10	4.21	1.07
2008Q3	13.91	4.95	1.86
2008Q4	16.81	6.51	3.19
2009Q1	21.30	8.48	3.37
2009Q2	18.99	8.55	6.42
2009Q3	23.50	10.61	5.58
2009Q4	20.48	10.05	6.87
2010Q1	24.66	9.84	7.50
2010Q2	24.54	11.96	6.63
2010Q3	24.15	9.92	6.07
2010Q4	22.62	10.85	6.34
2011Q1	22.70	9.59	6.25
2011Q2	22.14	9.60	5.61

Return to Figure 3c

Exhibit 4a Data: Representativeness of Sample

Date	Grouped Average	Banking Universe	Panel Data
1991q3		3.41	3.43
1991q4		3.46	3.48
1992q1		3.54	3.64
1992q2		3.77	3.85
1992q3		3.98	3.95
1992q4	4.34	4.26	4.20
1993q1	4.49	4.41	4.52
1993q2	4.57	4.60	4.65
1993q3	4.68	4.64	4.65
1993q4	4.67	4.70	4.58
1994q1	4.64	4.72	4.76
1994q2	4.63	4.58	4.55
1994q3	4.60	4.53	4.50
1994q4	4.59	4.53	4.53
1995q1	4.57	4.53	4.55
1995q2	4.59	4.56	4.54
1995q3	4.62	4.58	4.49
1995q4	4.66	4.69	4.55
1996q1	4.74	4.73	4.67
1996q2	4.77	4.78	4.81
1996q3	4.79	4.84	4.87
1996q4	4.81	4.82	4.76
1997q1	4.82	4.79	4.74
1997q2	4.84	4.79	4.78
1997q3	4.86	4.82	4.86
1997q4	4.86	4.88	4.86
1998q1	4.86	4.86	4.90
1998q2	4.85	4.85	4.77
1998q3	4.82	4.83	4.78
1998q4	4.78	4.74	4.80
1999q1	4.70	4.66	4.58
1999q2	4.65	4.55	4.57
1999q3	4.61	4.46	4.53
1999q4	4.58	4.45	4.54
2000q1	4.61	4.44	4.47
2000q2	4.62	4.48	4.54
2000q3	4.62	4.53	4.72
2000q4	4.61	4.53	4.67
2001q1	4.54	4.43	4.57
2001q2	4.47	4.34	4.49
2001q3	4.38	4.21	4.47
2001q4	4.32	4.13	4.28
2002q1	4.32	4.08	4.18
2002q2	4.37	4.11	4.27
2002q3	4.42	4.23	4.41
2002q4	4.46	4.40	4.45
2003q1	4.48	4.44	4.57
2003q2	4.49	4.46	4.56
2003q3	4.49	4.45	4.60
2003q4	4.51	4.37	4.43
2004q1	4.49	4.36	4.42
2004q2	4.48	4.34	4.42
2004q3	4.46	4.34	4.45
2004q4	4.47	4.37	4.37
2005q1	4.50	4.38	4.45
2005q2	4.54	4.44	4.51
2005q3	4.57	4.48	4.59
2005q4	4.60	4.53	4.67
2006q1	4.61	4.55	4.61
2006q2	4.64	4.57	4.61
2006q3	4.66	4.59	4.63
2006q4	4.66	4.60	4.81
2007q1	4.64	4.54	4.51
2007q2	4.61	4.41	4.55
2007q3	4.50	4.28	4.44
2007q4	4.45	4.19	4.49
2008q1	4.29	3.97	4.04
2008q2	4.10	3.88	4.20
2008q3	3.79	3.61	3.77
2008q4	3.53	3.27	3.48
2009q1	3.19	2.59	2.51
2009q2	2.88	2.45	2.76
2009q3	2.60	2.01	2.15
2009q4	2.36	1.91	2.09
2010q1	2.22	1.63	1.81
2010q2	2.19	1.66	1.48
2010q3	2.31	1.93	1.93
2010q4	2.40	2.23	2.30
2011q1		2.40	2.35
2011q2		2.52	2.58

Return to Figure 4a

Exhibit 4b Data: Representativeness of Sample

Date	Grouped Average	Banking Universe	Panel Data
1991q3		9.06675472068841	8.93807475642902
1991q4		9.08476355176977	8.79322781968828
1992q1		9.10339366160723	9.00480223428948
1992q2		9.12001914443165	9.00490174331539
1992q3		9.1322881064753	8.94244916629291
1992q4	9.20962831999257	9.19245681890358	9.12480550764257
1993q1	9.2709712696525	9.22984920099898	9.23409355474375
1993q2	9.32600608795475	9.31009585273977	9.22058807815601
1993q3	9.39556731974908	9.38028580788617	9.2841374178652
1993q4	9.46018584562909	9.45500022512384	9.36025687575723
1994q1	9.51347576213456	9.54718692395039	9.50916199079601
1994q2	9.56868654444638	9.58994061397127	9.40332453563988
1994q3	9.64439183050674	9.63137013261923	9.54505304694325
1994q4	9.709780825294	9.69427910307117	9.64046903100697
1995q1	9.77133601301974	9.77029439121906	9.81447895276185
1995q2	9.81968904129009	9.87848569138962	9.7857255020259
1995q3	9.87147750679674	9.94772667423693	9.72966602442342
1995q4	9.89092636752459	10.0126717347097	9.81291115403591
1996q1	9.91416735801451	10.0316116138903	9.931082075341
1996q2	9.91156574740463	10.0020423462995	9.89225700508766
1996q3	9.90520789393484	10.0062234218527	9.85856424775195
1996q4	9.91575624097618	10.0256116391057	9.91048775470236
1997q1	9.92045822653565	10.0386732174305	9.87855695176525
1997q2	9.93042754990683	10.0636785396406	9.8609172890989
1997q3	9.93678713420167	10.108423524631	9.93791149401333
1997q4	9.94970194479682	10.1384961713454	10.0310625835831
1998q1	9.94819251163431	10.162017233747	9.92907889433203
1998q2	9.96085459687161	10.1650569430813	9.95045874297238
1998q3	9.94603873527522	10.1546067996533	9.72370579693986
1998q4	9.9260513662268	10.1681161950888	9.82790594474275
1999q1	9.89470763386813	10.1316033272102	9.92585395333503
1999q2	9.86816732613404	10.1011058847666	9.79753385967686
1999q3	9.84620804640641	10.051042767782	9.68965185181158
1999q4	9.8227935654062	10.0609694291743	9.62977353571372
2000q1	9.83331602211842	10.0584904943781	9.77456064365474
2000q2	9.83759034350379	10.1004846096887	9.71460734798845
2000q3	9.8494234848383	10.1657560567955	9.74285579792736
2000q4	9.84752092210121	10.164748762401	9.80810095590948
2001q1	9.8341315609143	10.2185331257212	9.77231081733962
2001q2	9.81951297611398	10.2049931339914	9.75742472170453
2001q3	9.78801088467932	10.1703081439299	9.71632060857738
2001q4	9.77673370719936	10.0976969493142	9.75351341973585
2002q1	9.73602958554012	10.0387066418151	9.70145199931166
2002q2	9.73854828426968	9.9853337090419	9.7453119159068
2002q3	9.72492029980687	9.93290888289916	9.55767654576491
2002q4	9.71667057893884	9.9477838230816	9.63214000455562
2003q1	9.71945402182288	9.93272015795805	9.68068859866442
2003q2	9.72851609046387	9.92542549128773	9.67612816999041
2003q3	9.72518391860922	9.92667386923634	9.6973163268977
2003q4	9.72842675514208	9.9288796107345	9.60582519885785
2004q1	9.74857264414241	9.95960189512148	9.71593980924986
2004q2	9.75824013930383	9.96583314802692	9.84335323458372
2004q3	9.78765456123333	9.99912428600683	9.66595639666806
2004q4	9.80955015078279	10.0488556823661	9.5828919848362
2005q1	9.84064734780536	10.0936950912281	9.8382011925855
2005q2	9.86885045528831	10.1529130177029	9.75788317162288
2005q3	9.91139288605667	10.183805283521	9.84299533479876
2005q4	9.95539839338835	10.2454765382608	9.87084802366164
2006q1	9.99867904882102	10.3008481520829	9.85990235689167
2006q2	10.0371990590933	10.3322608028102	9.91485345410663
2006q3	10.0777063482591	10.3780987344447	10.0479433701085
2006q4	10.107070381662	10.4693023950389	9.8760999281411
2007q1	10.1330849639079	10.5127012415383	10.1084556953579
2007q2	10.1402128839235	10.5638224555577	10.1496302994184
2007q3	10.1534188183339	10.6271772642686	10.0984212062263
2007q4	10.1477151885808	10.6296093218944	9.98825123727683
2008q1	10.1234647900366	10.6122476759203	10.060367977922
2008q2	10.1083770820131	10.5794820841102	9.81340807007552
2008q3	10.0554263338054	10.5432812328765	9.82746216229127
2008q4	10.0118661124898	10.4564859879424	9.86174809693791
2009q1	9.97100526012653	10.4211711361906	9.78381920428009
2009q2	9.92804183153851	10.3959724943567	9.84431959175991
2009q3	9.90653023494948	10.3262192370602	9.623774829229
2009q4	9.87758785239414	10.3071034208085	9.76982944172094
2010q1	9.85980402912571	10.2350666320579	9.71978654507764
2010q2	9.86107012291533	10.2265694462854	9.63152869452109
2010q3	9.87280059957789	10.2303039545473	9.61635542590553
2010q4	9.86798809743336	10.253126443095	9.72854651934837
2011q1		10.1917324615402	9.79048637856956
2011q2		10.1867387064319	9.74971274534222

Return to Figure 4b

Exhibit 5a Data: Measures of Supervisory Stringency

Date	Time-fixed effects	No time-fixed effects residual	With economy-wide variables residual
1991q3	15.59	8.59	3.97
1991q4	11.29	6.92	3.24
1992q1	13.28	6.11	2.98
1992q2	11.85	4.90	2.13
1992q3	10.70	3.37	0.79
1992q4	8.29	2.01	0.66
1993q1	7.99	0.86	-0.71
1993q2	6.70	2.35	1.79
1993q3	5.19	0.21	0.63
1993q4	4.98	1.69	3.04
1994q1	5.71	0.97	2.42
1994q2	5.06	2.04	2.48
1994q3	3.29	1.19	1.05
1994q4	2.83	2.17	1.66
1995q1	4.95	1.59	0.00
1995q2	1.97	0.49	-0.69
1995q3	-1.06	-2.20	-3.16
1995q4	-3.97	-4.07	-4.88
1996q1	-1.77	-3.41	-3.41
1996q2	-2.14	-2.62	-2.75
1996q3	-3.98	-4.37	-4.60
1996q4	-6.54	-4.32	-4.32
1997q1	-3.87	-5.16	-4.25
1997q2	-5.17	-4.86	-4.81
1997q3	-6.89	-6.35	-5.56
1997q4	-7.62	-4.54	-3.22
1998q1	-4.57	-2.87	-1.41
1998q2	-5.30	-2.73	-0.51
1998q3	-3.23	-0.49	1.75
1998q4	-2.00	0.74	1.94
1999q1	-0.74	1.62	3.64
1999q2	-3.73	0.15	1.93
1999q3	-3.68	-0.24	1.43
1999q4	-5.97	-1.20	-0.94
2000q1	-2.30	1.18	1.14
2000q2	-0.71	3.17	2.53
2000q3	-3.61	2.44	1.05
2000q4	-3.75	3.30	1.65
2001q1	-3.91	1.70	0.29
2001q2	-4.70	1.35	0.09
2001q3	-4.26	0.81	0.04
2001q4	-5.18	0.07	-0.05
2002q1	-5.60	-2.77	-3.12
2002q2	-6.36	-3.05	-3.82
2002q3	-5.78	-3.14	-3.34
2002q4	-4.58	-1.56	-1.08
2003q1	-3.66	-2.46	-1.56
2003q2	-5.18	-2.35	-1.37
2003q3	-4.85	-2.50	0.24
2003q4	-7.16	-4.64	-2.43
2004q1	-5.27	-4.09	-0.25
2004q2	-6.15	-4.00	0.42
2004q3	-5.89	-3.49	0.76
2004q4	-4.28	-0.59	3.92
2005q1	-4.25	-1.21	3.10
2005q2	-3.90	-0.26	3.83
2005q3	-4.88	-1.50	2.83
2005q4	-7.38	-2.61	1.10
2006q1	-1.99	1.23	3.18
2006q2	-6.85	-2.12	0.27
2006q3	-5.32	-1.10	-0.45
2006q4	-5.39	-1.10	-1.14
2007q1	-2.69	-0.43	0.37
2007q2	-3.74	-0.65	-0.52
2007q3	-2.50	-0.67	0.18
2007q4	-3.16	-0.80	-1.42
2008q1	4.73	4.43	4.08
2008q2	5.11	3.91	3.19
2008q3	7.19	5.01	6.18
2008q4	9.17	6.73	5.12
2009q1	8.76	3.95	-2.28
2009q2	11.22	5.13	-2.40
2009q3	15.41	8.10	0.42
2009q4	11.41	2.88	-1.67
2010q1	12.16	3.77	0.84
2010q2	9.97	2.21	0.77
2010q3	5.81	-1.42	-1.36
2010q4	4.69	-0.78	-0.80
2011q1	6.56	-1.93	-1.95
2011q2	5.88	-0.77	-0.59

Return to Figure 5a

Exhibit 5b Data: Measures of Supervisory Stringency

Date	Time-fixed effects	No time-fixed effects residual	With economy-wide variables residual
1991q3	12.99	9.42	5.58
1991q4	8.63	6.03	3.36
1992q1	10.39	7.11	4.66
1992q2	7.39	3.73	1.70
1992q3	5.70	3.47	1.44
1992q4	3.67	0.84	-0.20
1993q1	3.70	1.09	-0.20
1993q2	2.66	1.90	1.40
1993q3	0.43	-1.00	-1.32
1993q4	0.79	-0.00	0.59
1994q1	1.74	1.54	2.22
1994q2	1.68	1.70	2.07
1994q3	1.08	1.17	1.26
1994q4	0.35	2.08	2.44
1995q1	1.67	1.85	1.42
1995q2	-0.22	0.53	0.31
1995q3	-3.83	-2.23	-3.30
1995q4	-6.68	-4.99	-5.76
1996q1	-4.26	-2.81	-3.11
1996q2	-4.07	-2.40	-2.57
1996q3	-6.12	-4.29	-4.25
1996q4	-7.47	-4.66	-4.02
1997q1	-4.70	-3.97	-2.59
1997q2	-6.93	-4.37	-3.57
1997q3	-6.91	-5.14	-3.63
1997q4	-7.66	-4.93	-3.03
1998q1	-5.57	-2.62	-0.90
1998q2	-4.83	-1.44	0.84
1998q3	-2.96	0.48	2.34
1998q4	-1.34	1.26	2.15
1999q1	-0.93	2.41	3.69
1999q2	-3.08	0.66	1.96
1999q3	-3.18	0.78	2.00
1999q4	-5.56	-1.49	-0.94
2000q1	-2.24	1.86	2.34
2000q2	-1.65	2.69	2.83
2000q3	-3.32	1.96	0.64
2000q4	-2.54	2.26	0.57
2001q1	-2.11	2.00	0.31
2001q2	-2.45	1.12	-0.20
2001q3	-1.99	0.93	0.21
2001q4	-2.52	-0.28	-0.53
2002q1	-3.32	-2.17	-2.50
2002q2	-3.96	-2.83	-3.30
2002q3	-3.92	-2.97	-3.49
2002q4	-2.24	-2.11	-2.61
2003q1	-1.96	-1.52	-1.69
2003q2	-2.35	-1.90	-1.75
2003q3	-1.60	-1.70	-0.19
2003q4	-4.95	-4.56	-2.73
2004q1	-3.95	-3.28	0.46
2004q2	-3.70	-3.59	0.55
2004q3	-4.82	-3.19	0.66
2004q4	-1.03	-0.27	3.75
2005q1	-2.24	0.00	3.79
2005q2	-2.87	-1.01	2.62
2005q3	-3.25	-1.86	1.40
2005q4	-5.01	-2.21	0.64
2006q1	-1.35	1.02	2.63
2006q2	-4.44	-2.26	-0.12
2006q3	-4.69	-2.06	-1.36
2006q4	-3.10	-2.12	-1.85
2007q1	-1.10	-0.10	0.92
2007q2	-2.31	-0.53	0.15
2007q3	-2.36	-2.81	-1.44
2007q4	-0.91	-1.71	-1.34
2008q1	5.54	3.51	4.19
2008q2	5.20	1.81	1.74
2008q3	6.81	3.10	4.23
2008q4	12.78	6.80	5.25
2009q1	10.41	4.27	-3.21
2009q2	16.84	8.87	-0.57
2009q3	18.76	9.08	-0.14
2009q4	14.08	4.87	-0.48
2010q1	11.29	3.96	0.45
2010q2	13.62	4.72	3.09
2010q3	9.34	-0.30	-1.13
2010q4	5.86	-0.03	-1.31
2011q1	8.24	-0.87	-1.67
2011q2	7.10	-0.99	-0.84

Return to Figure 5b

Exhibit 5c Data: Measures of Supervisory Stringency

Date	Time-fixed effects	No time-fixed effects residual	With economy-wide variables residual
1991q3	15.37	10.21	5.54
1991q4	11.47	6.94	3.31
1992q1	13.17	7.90	4.77
1992q2	9.37	5.02	2.22
1992q3	8.95	4.28	1.49
1992q4	5.95	2.50	0.98
1993q1	5.71	1.95	0.23
1993q2	4.99	1.87	0.93
1993q3	1.48	-0.16	-0.46
1993q4	1.66	0.95	1.45
1994q1	2.52	1.22	1.95
1994q2	2.13	1.77	1.77
1994q3	1.28	1.39	1.15
1994q4	2.15	2.22	1.95
1995q1	1.78	1.97	0.96
1995q2	0.17	0.83	0.14
1995q3	-3.28	-2.24	-3.13
1995q4	-6.31	-4.78	-5.53
1996q1	-4.11	-3.45	-3.56
1996q2	-3.40	-2.39	-2.50
1996q3	-6.05	-4.59	-4.53
1996q4	-6.59	-4.75	-4.51
1997q1	-5.09	-3.79	-2.66
1997q2	-6.23	-5.02	-4.64
1997q3	-6.80	-4.91	-3.70
1997q4	-7.47	-4.72	-3.19
1998q1	-5.17	-3.45	-1.88
1998q2	-4.43	-1.89	0.35
1998q3	-2.76	0.16	2.32
1998q4	-1.50	2.16	3.41
1999q1	-0.55	2.06	3.88
1999q2	-2.46	0.56	2.07
1999q3	-2.67	0.68	2.34
1999q4	-5.25	-0.95	-0.21
2000q1	-1.69	1.47	2.05
2000q2	-1.39	2.64	2.78
2000q3	-2.94	1.33	0.84
2000q4	-2.27	2.52	1.58
2001q1	-2.33	1.53	0.75
2001q2	-2.34	1.68	1.03
2001q3	-2.24	1.44	1.12
2001q4	-2.76	0.85	0.84
2002q1	-3.93	-2.08	-2.39
2002q2	-4.33	-2.31	-2.96
2002q3	-4.26	-2.62	-2.77
2002q4	-2.98	-0.59	-0.40
2003q1	-2.40	-1.50	-1.00
2003q2	-2.56	-0.97	-0.56
2003q3	-2.19	-0.74	1.34
2003q4	-5.36	-3.12	-1.26
2004q1	-3.56	-2.85	0.90
2004q2	-4.71	-2.34	1.80
2004q3	-4.50	-2.42	1.57
2004q4	-1.33	2.14	6.23
2005q1	-1.75	0.25	4.13
2005q2	-2.89	-0.04	3.88
2005q3	-3.81	-0.52	3.53
2005q4	-5.47	-1.35	2.07
2006q1	-1.60	1.61	3.72
2006q2	-4.68	-1.48	1.24
2006q3	-4.29	-1.55	-0.35
2006q4	-3.89	-0.61	0.09
2007q1	-0.87	0.29	1.84
2007q2	-1.39	-0.63	0.33
2007q3	-2.33	-1.43	0.28
2007q4	-0.45	-0.29	0.09
2008q1	6.55	3.94	4.56
2008q2	6.24	3.38	3.22
2008q3	8.24	3.80	5.55
2008q4	13.95	8.62	7.23
2009q1	11.77	2.89	-5.07
2009q2	18.62	8.75	-1.16
2009q3	20.17	9.28	-0.77
2009q4	16.12	4.87	-1.09
2010q1	13.77	1.08	-2.42
2010q2	15.14	5.15	3.88
2010q3	9.99	1.11	1.34
2010q4	8.45	0.00	-0.47
2011q1	9.93	-0.10	-0.19
2011q2	9.33	-0.55	0.02

Return to Figure 5c

Exhibit 6a Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.010	-0.004	0.024
1993q1	0.009	-0.004	0.023
1993q2	0.019	0.005	0.033
1993q3	0.019	0.005	0.032
1993q4	0.014	0.000	0.027
1994q1	0.014	0.000	0.028
1994q2	0.017	0.003	0.031
1994q3	0.012	-0.002	0.026
1994q4	0.009	-0.005	0.023
1995q1	0.005	-0.009	0.019
1995q2	0.004	-0.010	0.018
1995q3	0.008	-0.007	0.023
1995q4	-0.000	-0.015	0.015
1996q1	-0.007	-0.022	0.009
1996q2	-0.005	-0.021	0.011
1996q3	-0.000	-0.017	0.017
1996q4	-0.007	-0.024	0.010
1997q1	-0.016	-0.032	0.001
1997q2	-0.012	-0.029	0.005
1997q3	-0.009	-0.026	0.008
1997q4	-0.007	-0.024	0.010
1998q1	-0.008	-0.026	0.009
1998q2	-0.003	-0.021	0.014
1998q3	-0.005	-0.022	0.012
1998q4	0.008	-0.009	0.026
1999q1	0.017	-0.001	0.036
1999q2	0.010	-0.009	0.029
1999q3	0.007	-0.012	0.026
1999q4	0.001	-0.018	0.021
2000q1	0.008	-0.011	0.028
2000q2	0.012	-0.008	0.032
2000q3	0.004	-0.017	0.025
2000q4	0.015	-0.006	0.036
2001q1	0.017	-0.004	0.039
2001q2	0.019	-0.003	0.040
2001q3	0.008	-0.013	0.029
2001q4	0.009	-0.012	0.030
2002q1	0.016	-0.004	0.037
2002q2	0.005	-0.015	0.025
2002q3	-0.014	-0.033	0.006
2002q4	-0.014	-0.034	0.005
2003q1	-0.010	-0.029	0.010
2003q2	-0.014	-0.033	0.005
2003q3	-0.006	-0.025	0.013
2003q4	-0.005	-0.024	0.014
2004q1	-0.005	-0.024	0.014
2004q2	-0.007	-0.026	0.012
2004q3	-0.004	-0.023	0.015
2004q4	-0.012	-0.031	0.007
2005q1	-0.002	-0.021	0.017
2005q2	-0.002	-0.021	0.017
2005q3	0.005	-0.014	0.025
2005q4	0.003	-0.017	0.023
2006q1	0.002	-0.018	0.022
2006q2	0.008	-0.012	0.028
2006q3	0.009	-0.011	0.030
2006q4	0.015	-0.006	0.035
2007q1	0.005	-0.016	0.026
2007q2	0.000	-0.021	0.022
2007q3	-0.009	-0.031	0.012
2007q4	-0.004	-0.025	0.017
2008q1	-0.004	-0.025	0.017
2008q2	0.003	-0.018	0.024
2008q3	0.007	-0.014	0.028
2008q4	0.005	-0.016	0.026
2009q1	0.016	-0.005	0.037
2009q2	0.022	0.002	0.043
2009q3	0.034	0.014	0.055
2009q4	0.036	0.016	0.057
2010q1	0.032	0.011	0.053
2010q2	0.029	0.008	0.050
2010q3	0.010	-0.012	0.031
2010q4	0.005	-0.016	0.027

Return to Figure 6

Exhibit 6b Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.071	0.039	0.102
1993q1	0.076	0.044	0.108
1993q2	0.050	0.017	0.082
1993q3	0.057	0.025	0.090
1993q4	0.065	0.032	0.097
1994q1	0.055	0.023	0.088
1994q2	0.045	0.012	0.077
1994q3	0.055	0.022	0.087
1994q4	0.059	0.026	0.092
1995q1	0.061	0.028	0.094
1995q2	0.056	0.023	0.089
1995q3	0.050	0.016	0.084
1995q4	0.065	0.031	0.099
1996q1	0.072	0.038	0.107
1996q2	0.064	0.029	0.099
1996q3	0.053	0.017	0.089
1996q4	0.056	0.019	0.092
1997q1	0.072	0.036	0.108
1997q2	0.076	0.040	0.112
1997q3	0.069	0.033	0.106
1997q4	0.069	0.032	0.105
1998q1	0.066	0.028	0.103
1998q2	0.063	0.026	0.101
1998q3	0.064	0.027	0.100
1998q4	0.042	0.005	0.080
1999q1	0.040	0.002	0.078
1999q2	0.052	0.013	0.090
1999q3	0.046	0.007	0.084
1999q4	0.059	0.021	0.097
2000q1	0.045	0.007	0.083
2000q2	0.028	-0.010	0.066
2000q3	0.052	0.013	0.091
2000q4	0.025	-0.014	0.065
2001q1	0.021	-0.019	0.060
2001q2	0.037	-0.003	0.077
2001q3	0.060	0.021	0.099
2001q4	0.062	0.023	0.100
2002q1	0.041	0.003	0.079
2002q2	0.066	0.028	0.104
2002q3	0.096	0.059	0.133
2002q4	0.101	0.064	0.138
2003q1	0.088	0.051	0.125
2003q2	0.099	0.063	0.136
2003q3	0.091	0.054	0.128
2003q4	0.088	0.051	0.125
2004q1	0.083	0.046	0.120
2004q2	0.076	0.039	0.113
2004q3	0.069	0.031	0.107
2004q4	0.070	0.032	0.107
2005q1	0.056	0.018	0.094
2005q2	0.060	0.021	0.098
2005q3	0.047	0.008	0.086
2005q4	0.050	0.011	0.089
2006q1	0.052	0.013	0.090
2006q2	0.041	0.002	0.079
2006q3	0.034	-0.005	0.074
2006q4	0.025	-0.014	0.064
2007q1	0.038	-0.001	0.078
2007q2	0.050	0.011	0.090
2007q3	0.075	0.035	0.114
2007q4	0.069	0.029	0.108
2008q1	0.073	0.034	0.112
2008q2	0.055	0.017	0.094
2008q3	0.051	0.013	0.090
2008q4	0.065	0.027	0.104
2009q1	0.052	0.014	0.090
2009q2	0.059	0.021	0.098
2009q3	0.047	0.008	0.085
2009q4	0.054	0.015	0.092
2010q1	0.057	0.018	0.096
2010q2	0.067	0.028	0.106
2010q3	0.104	0.064	0.144
2010q4	0.115	0.074	0.156

Return to Figure 6

Exhibit 6c Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	-0.166	-0.186	-0.146
1993q1	-0.160	-0.180	-0.139
1993q2	-0.159	-0.180	-0.138
1993q3	-0.160	-0.182	-0.138
1993q4	-0.161	-0.183	-0.138
1994q1	-0.144	-0.167	-0.121
1994q2	-0.136	-0.160	-0.112
1994q3	-0.142	-0.167	-0.117
1994q4	-0.159	-0.184	-0.133
1995q1	-0.166	-0.193	-0.140
1995q2	-0.161	-0.188	-0.134
1995q3	-0.154	-0.181	-0.126
1995q4	-0.156	-0.183	-0.128
1996q1	-0.164	-0.192	-0.137
1996q2	-0.157	-0.185	-0.130
1996q3	-0.163	-0.191	-0.136
1996q4	-0.159	-0.187	-0.131
1997q1	-0.151	-0.179	-0.123
1997q2	-0.159	-0.187	-0.131
1997q3	-0.158	-0.185	-0.130
1997q4	-0.151	-0.179	-0.123
1998q1	-0.136	-0.164	-0.108
1998q2	-0.123	-0.152	-0.095
1998q3	-0.123	-0.152	-0.095
1998q4	-0.121	-0.150	-0.092
1999q1	-0.125	-0.153	-0.097
1999q2	-0.125	-0.154	-0.097
1999q3	-0.129	-0.158	-0.100
1999q4	-0.149	-0.179	-0.120
2000q1	-0.154	-0.184	-0.124
2000q2	-0.153	-0.184	-0.122
2000q3	-0.150	-0.182	-0.119
2000q4	-0.164	-0.196	-0.132
2001q1	-0.168	-0.201	-0.135
2001q2	-0.169	-0.201	-0.136
2001q3	-0.192	-0.225	-0.160
2001q4	-0.196	-0.228	-0.165
2002q1	-0.188	-0.219	-0.156
2002q2	-0.203	-0.235	-0.171
2002q3	-0.202	-0.234	-0.170
2002q4	-0.197	-0.229	-0.164
2003q1	-0.202	-0.234	-0.170
2003q2	-0.180	-0.211	-0.150
2003q3	-0.169	-0.200	-0.138
2003q4	-0.176	-0.207	-0.145
2004q1	-0.164	-0.196	-0.133
2004q2	-0.159	-0.191	-0.127
2004q3	-0.159	-0.192	-0.126
2004q4	-0.137	-0.170	-0.104
2005q1	-0.141	-0.175	-0.107
2005q2	-0.142	-0.178	-0.106
2005q3	-0.133	-0.170	-0.096
2005q4	-0.153	-0.190	-0.116
2006q1	-0.173	-0.211	-0.135
2006q2	-0.173	-0.212	-0.135
2006q3	-0.170	-0.209	-0.131
2006q4	-0.168	-0.207	-0.128
2007q1	-0.163	-0.202	-0.124
2007q2	-0.154	-0.193	-0.114
2007q3	-0.159	-0.196	-0.121
2007q4	-0.176	-0.213	-0.139
2008q1	-0.164	-0.199	-0.128
2008q2	-0.142	-0.176	-0.108
2008q3	-0.139	-0.170	-0.108
2008q4	-0.157	-0.188	-0.127
2009q1	-0.157	-0.186	-0.128
2009q2	-0.166	-0.194	-0.138
2009q3	-0.163	-0.190	-0.136
2009q4	-0.158	-0.184	-0.132
2010q1	-0.164	-0.190	-0.138
2010q2	-0.190	-0.215	-0.164
2010q3	-0.203	-0.229	-0.178
2010q4	-0.203	-0.229	-0.178

Return to Figure 6

Exhibit 6d Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	-0.00013	-0.00045	0.00018
1993q1	-0.00028	-0.00061	0.00005
1993q2	-0.00016	-0.00050	0.00018
1993q3	-0.00019	-0.00055	0.00016
1993q4	-0.00015	-0.00052	0.00021
1994q1	-0.00027	-0.00065	0.00011
1994q2	-0.00038	-0.00076	0.00001
1994q3	-0.00041	-0.00081	-0.00002
1994q4	-0.00033	-0.00073	0.00007
1995q1	-0.00031	-0.00073	0.00010
1995q2	-0.00041	-0.00082	-0.00000
1995q3	-0.00064	-0.00104	-0.00023
1995q4	-0.00069	-0.00110	-0.00028
1996q1	-0.00062	-0.00102	-0.00021
1996q2	-0.00077	-0.00117	-0.00037
1996q3	-0.00060	-0.00099	-0.00021
1996q4	-0.00050	-0.00089	-0.00011
1997q1	-0.00057	-0.00095	-0.00019
1997q2	-0.00042	-0.00080	-0.00005
1997q3	-0.00024	-0.00062	0.00014
1997q4	-0.00040	-0.00078	-0.00002
1998q1	-0.00064	-0.00102	-0.00025
1998q2	-0.00071	-0.00109	-0.00033
1998q3	-0.00070	-0.00108	-0.00032
1998q4	-0.00079	-0.00117	-0.00041
1999q1	-0.00073	-0.00111	-0.00036
1999q2	-0.00071	-0.00110	-0.00033
1999q3	-0.00085	-0.00123	-0.00046
1999q4	-0.00053	-0.00092	-0.00013
2000q1	-0.00063	-0.00103	-0.00023
2000q2	-0.00061	-0.00102	-0.00020
2000q3	-0.00058	-0.00099	-0.00016
2000q4	-0.00033	-0.00076	0.00009
2001q1	-0.00024	-0.00067	0.00020
2001q2	-0.00020	-0.00063	0.00022
2001q3	-0.00001	-0.00044	0.00041
2001q4	-0.00004	-0.00046	0.00038
2002q1	-0.00009	-0.00051	0.00034
2002q2	0.00007	-0.00036	0.00050
2002q3	0.00014	-0.00029	0.00057
2002q4	0.00006	-0.00038	0.00049
2003q1	0.00032	-0.00011	0.00075
2003q2	0.00019	-0.00023	0.00061
2003q3	-0.00010	-0.00052	0.00032
2003q4	-0.00012	-0.00055	0.00031
2004q1	-0.00025	-0.00069	0.00019
2004q2	-0.00040	-0.00085	0.00006
2004q3	-0.00049	-0.00096	-0.00002
2004q4	-0.00069	-0.00116	-0.00022
2005q1	-0.00064	-0.00112	-0.00016
2005q2	-0.00071	-0.00121	-0.00020
2005q3	-0.00074	-0.00125	-0.00023
2005q4	-0.00044	-0.00096	0.00007
2006q1	-0.00041	-0.00093	0.00011
2006q2	-0.00031	-0.00082	0.00020
2006q3	-0.00014	-0.00064	0.00036
2006q4	-0.00019	-0.00070	0.00031
2007q1	-0.00045	-0.00094	0.00004
2007q2	-0.00052	-0.00101	-0.00002
2007q3	-0.00055	-0.00103	-0.00008
2007q4	-0.00048	-0.00095	-0.00002
2008q1	-0.00060	-0.00105	-0.00016
2008q2	-0.00084	-0.00126	-0.00042
2008q3	-0.00079	-0.00119	-0.00040
2008q4	-0.00053	-0.00092	-0.00014
2009q1	-0.00048	-0.00085	-0.00010
2009q2	-0.00039	-0.00076	-0.00003
2009q3	-0.00040	-0.00076	-0.00003
2009q4	-0.00048	-0.00084	-0.00012
2010q1	-0.00048	-0.00084	-0.00011
2010q2	-0.00007	-0.00044	0.00030
2010q3	0.00027	-0.00010	0.00064
2010q4	0.00037	-0.00001	0.00075

Return to Figure 6

Exhibit 6e Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	-0.0009	-0.0079	0.0062
1993q1	-0.0048	-0.0119	0.0023
1993q2	-0.0023	-0.0094	0.0048
1993q3	0.0008	-0.0064	0.0079
1993q4	-0.0012	-0.0084	0.0060
1994q1	0.0016	-0.0057	0.0088
1994q2	-0.0020	-0.0092	0.0052
1994q3	-0.0022	-0.0095	0.0051
1994q4	-0.0018	-0.0093	0.0056
1995q1	-0.0012	-0.0088	0.0064
1995q2	-0.0050	-0.0128	0.0027
1995q3	-0.0066	-0.0146	0.0013
1995q4	-0.0059	-0.0140	0.0023
1996q1	-0.0056	-0.0139	0.0026
1996q2	-0.0090	-0.0173	-0.0006
1996q3	-0.0141	-0.0226	-0.0056
1996q4	-0.0100	-0.0185	-0.0014
1997q1	-0.0070	-0.0156	0.0016
1997q2	-0.0071	-0.0158	0.0016
1997q3	-0.0088	-0.0176	-0.0001
1997q4	-0.0040	-0.0128	0.0049
1998q1	-0.0055	-0.0144	0.0035
1998q2	-0.0059	-0.0148	0.0029
1998q3	-0.0103	-0.0191	-0.0015
1998q4	-0.0045	-0.0132	0.0042
1999q1	-0.0060	-0.0144	0.0024
1999q2	-0.0086	-0.0169	-0.0003
1999q3	-0.0095	-0.0177	-0.0013
1999q4	-0.0088	-0.0169	-0.0007
2000q1	-0.0063	-0.0144	0.0018
2000q2	-0.0047	-0.0129	0.0034
2000q3	-0.0067	-0.0150	0.0016
2000q4	-0.0037	-0.0121	0.0048
2001q1	-0.0053	-0.0138	0.0032
2001q2	-0.0022	-0.0109	0.0064
2001q3	-0.0034	-0.0121	0.0052
2001q4	-0.0029	-0.0115	0.0058
2002q1	0.0032	-0.0054	0.0118
2002q2	-0.0003	-0.0089	0.0082
2002q3	-0.0060	-0.0145	0.0025
2002q4	-0.0091	-0.0175	-0.0007
2003q1	-0.0061	-0.0144	0.0022
2003q2	-0.0051	-0.0133	0.0031
2003q3	-0.0054	-0.0136	0.0028
2003q4	-0.0006	-0.0088	0.0076
2004q1	0.0036	-0.0046	0.0118
2004q2	0.0038	-0.0044	0.0121
2004q3	0.0054	-0.0029	0.0138
2004q4	0.0007	-0.0076	0.0089
2005q1	-0.0034	-0.0118	0.0049
2005q2	-0.0069	-0.0155	0.0017
2005q3	-0.0070	-0.0156	0.0017
2005q4	-0.0086	-0.0173	0.0001
2006q1	-0.0029	-0.0118	0.0059
2006q2	0.0010	-0.0079	0.0100
2006q3	0.0069	-0.0022	0.0161
2006q4	0.0085	-0.0009	0.0178
2007q1	0.0093	-0.0001	0.0187
2007q2	0.0078	-0.0017	0.0172
2007q3	-0.0005	-0.0099	0.0088
2007q4	-0.0033	-0.0125	0.0059
2008q1	-0.0051	-0.0142	0.0041
2008q2	-0.0055	-0.0144	0.0034
2008q3	-0.0022	-0.0111	0.0067
2008q4	-0.0033	-0.0120	0.0054
2009q1	0.0008	-0.0078	0.0094
2009q2	0.0017	-0.0070	0.0103
2009q3	0.0023	-0.0061	0.0108
2009q4	0.0033	-0.0051	0.0117
2010q1	0.0062	-0.0020	0.0144
2010q2	0.0080	-0.0003	0.0162
2010q3	0.0066	-0.0016	0.0148
2010q4	0.0081	-0.0000	0.0163

Return to Figure 6

Exhibit 6f Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	-0.0257	-0.0310	-0.0192
1993q1	-0.0244	-0.0269	-0.0178
1993q2	-0.0203	-0.0230	-0.0137
1993q3	-0.0164	-0.0246	-0.0098
1993q4	-0.0180	-0.0240	-0.0113
1994q1	-0.0172	-0.0218	-0.0105
1994q2	-0.0151	-0.0223	-0.0084
1994q3	-0.0156	-0.0223	-0.0088
1994q4	-0.0155	-0.0222	-0.0088
1995q1	-0.0153	-0.0244	-0.0084
1995q2	-0.0174	-0.0267	-0.0105
1995q3	-0.0196	-0.0287	-0.0125
1995q4	-0.0215	-0.0305	-0.0143
1996q1	-0.0232	-0.0303	-0.0159
1996q2	-0.0230	-0.0287	-0.0157
1996q3	-0.0213	-0.0313	-0.0139
1996q4	-0.0239	-0.0352	-0.0165
1997q1	-0.0279	-0.0361	-0.0205
1997q2	-0.0288	-0.0326	-0.0215
1997q3	-0.0253	-0.0285	-0.0180
1997q4	-0.0211	-0.0278	-0.0138
1998q1	-0.0204	-0.0265	-0.0130
1998q2	-0.0191	-0.0249	-0.0118
1998q3	-0.0175	-0.0168	-0.0102
1998q4	-0.0094	-0.0112	-0.0021
1999q1	-0.0039	-0.0143	0.0035
1999q2	-0.0071	-0.0171	0.0002
1999q3	-0.0100	-0.0196	-0.0028
1999q4	-0.0125	-0.0195	-0.0055
2000q1	-0.0125	-0.0189	-0.0056
2000q2	-0.0119	-0.0208	-0.0050
2000q3	-0.0139	-0.0192	-0.0069
2000q4	-0.0121	-0.0213	-0.0051
2001q1	-0.0144	-0.0215	-0.0074
2001q2	-0.0145	-0.0228	-0.0076
2001q3	-0.0160	-0.0210	-0.0093
2001q4	-0.0145	-0.0183	-0.0079
2002q1	-0.0119	-0.0202	-0.0055
2002q2	-0.0138	-0.0254	-0.0075
2002q3	-0.0190	-0.0251	-0.0127
2002q4	-0.0189	-0.0232	-0.0127
2003q1	-0.0170	-0.0231	-0.0108
2003q2	-0.0169	-0.0187	-0.0107
2003q3	-0.0126	-0.0161	-0.0065
2003q4	-0.0100	-0.0144	-0.0038
2004q1	-0.0083	-0.0171	-0.0023
2004q2	-0.0110	-0.0174	-0.0049
2004q3	-0.0113	-0.0180	-0.0052
2004q4	-0.0121	-0.0161	-0.0061
2005q1	-0.0101	-0.0168	-0.0041
2005q2	-0.0106	-0.0148	-0.0044
2005q3	-0.0085	-0.0168	-0.0023
2005q4	-0.0105	-0.0180	-0.0042
2006q1	-0.0117	-0.0157	-0.0053
2006q2	-0.0093	-0.0148	-0.0029
2006q3	-0.0084	-0.0153	-0.0019
2006q4	-0.0088	-0.0192	-0.0023
2007q1	-0.0128	-0.0227	-0.0063
2007q2	-0.0162	-0.0263	-0.0098
2007q3	-0.0200	-0.0310	-0.0137
2007q4	-0.0248	-0.0339	-0.0185
2008q1	-0.0278	-0.0320	-0.0217
2008q2	-0.0261	-0.0323	-0.0202
2008q3	-0.0265	-0.0360	-0.0207
2008q4	-0.0302	-0.0349	-0.0244
2009q1	-0.0292	-0.0331	-0.0236
2009q2	-0.0275	-0.0320	-0.0218
2009q3	-0.0264	-0.0316	-0.0208
2009q4	-0.0260	-0.0313	-0.0204
2010q1	-0.0256	-0.0315	-0.0199
2010q2	-0.0256	-0.0325	-0.0198
2010q3	-0.0264	-0.0317	-0.0203
2010q4	-0.0254	-0.0000	-0.0192

Return to Figure 6

Exhibit 6g Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	-0.0186	-0.0243	-0.0130
1993q1	-0.0167	-0.0224	-0.0111
1993q2	-0.0144	-0.0201	-0.0086
1993q3	-0.0123	-0.0180	-0.0066
1993q4	-0.0156	-0.0214	-0.0098
1994q1	-0.0143	-0.0201	-0.0084
1994q2	-0.0122	-0.0181	-0.0062
1994q3	-0.0124	-0.0183	-0.0064
1994q4	-0.0132	-0.0192	-0.0072
1995q1	-0.0157	-0.0218	-0.0096
1995q2	-0.0177	-0.0238	-0.0116
1995q3	-0.0191	-0.0254	-0.0129
1995q4	-0.0219	-0.0283	-0.0156
1996q1	-0.0250	-0.0314	-0.0185
1996q2	-0.0251	-0.0316	-0.0186
1996q3	-0.0244	-0.0310	-0.0178
1996q4	-0.0280	-0.0347	-0.0214
1997q1	-0.0307	-0.0373	-0.0241
1997q2	-0.0305	-0.0372	-0.0239
1997q3	-0.0281	-0.0348	-0.0215
1997q4	-0.0260	-0.0327	-0.0192
1998q1	-0.0267	-0.0335	-0.0199
1998q2	-0.0251	-0.0319	-0.0183
1998q3	-0.0261	-0.0329	-0.0193
1998q4	-0.0173	-0.0241	-0.0105
1999q1	-0.0143	-0.0212	-0.0075
1999q2	-0.0145	-0.0213	-0.0077
1999q3	-0.0133	-0.0201	-0.0065
1999q4	-0.0118	-0.0185	-0.0051
2000q1	-0.0114	-0.0181	-0.0047
2000q2	-0.0110	-0.0177	-0.0042
2000q3	-0.0123	-0.0191	-0.0055
2000q4	-0.0101	-0.0170	-0.0031
2001q1	-0.0111	-0.0180	-0.0041
2001q2	-0.0129	-0.0199	-0.0060
2001q3	-0.0148	-0.0216	-0.0081
2001q4	-0.0147	-0.0213	-0.0081
2002q1	-0.0126	-0.0191	-0.0061
2002q2	-0.0162	-0.0226	-0.0097
2002q3	-0.0217	-0.0281	-0.0153
2002q4	-0.0214	-0.0277	-0.0150
2003q1	-0.0197	-0.0261	-0.0134
2003q2	-0.0191	-0.0254	-0.0127
2003q3	-0.0144	-0.0207	-0.0080
2003q4	-0.0136	-0.0200	-0.0072
2004q1	-0.0121	-0.0185	-0.0057
2004q2	-0.0135	-0.0199	-0.0070
2004q3	-0.0106	-0.0172	-0.0041
2004q4	-0.0114	-0.0178	-0.0050
2005q1	-0.0089	-0.0154	-0.0025
2005q2	-0.0095	-0.0161	-0.0028
2005q3	-0.0078	-0.0146	-0.0011
2005q4	-0.0080	-0.0148	-0.0012
2006q1	-0.0074	-0.0143	-0.0005
2006q2	-0.0032	-0.0101	0.0037
2006q3	-0.0050	-0.0120	0.0020
2006q4	-0.0036	-0.0107	0.0034
2007q1	-0.0078	-0.0147	-0.0008
2007q2	-0.0110	-0.0181	-0.0040
2007q3	-0.0128	-0.0198	-0.0058
2007q4	-0.0131	-0.0200	-0.0062
2008q1	-0.0137	-0.0205	-0.0070
2008q2	-0.0106	-0.0172	-0.0040
2008q3	-0.0094	-0.0159	-0.0029
2008q4	-0.0111	-0.0175	-0.0047
2009q1	-0.0087	-0.0151	-0.0024
2009q2	-0.0063	-0.0127	-0.0000
2009q3	-0.0050	-0.0113	0.0012
2009q4	-0.0059	-0.0121	0.0003
2010q1	-0.0062	-0.0125	0.0002
2010q2	-0.0082	-0.0147	-0.0017
2010q3	-0.0105	-0.0172	-0.0037
2010q4	-0.0114	-0.0183	-0.0045

Return to Figure 6

Exhibit 7a Data: Effect of Profitability and Liability composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.0002	-0.0008	0.0011
1993q1	0.0001	-0.0008	0.0011
1993q2	-0.0006	-0.0016	0.0004
1993q3	-0.0013	-0.0023	-0.0003
1993q4	-0.0016	-0.0026	-0.0006
1994q1	-0.0012	-0.0022	-0.0002
1994q2	-0.0011	-0.0022	-0.0001
1994q3	-0.0006	-0.0017	0.0004
1994q4	-0.0005	-0.0016	0.0006
1995q1	-0.0001	-0.0013	0.0010
1995q2	-0.0007	-0.0019	0.0005
1995q3	-0.0006	-0.0018	0.0006
1995q4	-0.0000	-0.0013	0.0012
1996q1	-0.0005	-0.0017	0.0008
1996q2	-0.0003	-0.0015	0.0009
1996q3	0.0001	-0.0011	0.0013
1996q4	0.0002	-0.0010	0.0014
1997q1	0.0004	-0.0008	0.0017
1997q2	0.0004	-0.0009	0.0016
1997q3	0.0008	-0.0005	0.0020
1997q4	0.0009	-0.0003	0.0022
1998q1	0.0010	-0.0003	0.0022
1998q2	0.0007	-0.0005	0.0020
1998q3	0.0005	-0.0007	0.0018
1998q4	0.0007	-0.0005	0.0020
1999q1	0.0008	-0.0004	0.0021
1999q2	0.0007	-0.0005	0.0019
1999q3	0.0013	0.0001	0.0025
1999q4	0.0009	-0.0003	0.0022
2000q1	0.0005	-0.0007	0.0017
2000q2	0.0001	-0.0011	0.0013
2000q3	0.0010	-0.0002	0.0022
2000q4	0.0012	-0.0000	0.0024
2001q1	0.0015	0.0004	0.0027
2001q2	0.0009	-0.0003	0.0020
2001q3	0.0011	-0.0001	0.0022
2001q4	0.0006	-0.0005	0.0018
2002q1	0.0009	-0.0002	0.0020
2002q2	0.0007	-0.0004	0.0018
2002q3	-0.0002	-0.0013	0.0009
2002q4	-0.0005	-0.0016	0.0006
2003q1	0.0001	-0.0010	0.0012
2003q2	0.0005	-0.0006	0.0016
2003q3	0.0002	-0.0009	0.0013
2003q4	-0.0003	-0.0014	0.0009
2004q1	0.0002	-0.0009	0.0013
2004q2	0.0003	-0.0008	0.0015
2004q3	0.0013	0.0001	0.0025
2004q4	0.0013	0.0001	0.0025
2005q1	0.0007	-0.0005	0.0019
2005q2	0.0005	-0.0008	0.0017
2005q3	0.0002	-0.0010	0.0015
2005q4	0.0003	-0.0009	0.0015
2006q1	-0.0004	-0.0016	0.0008
2006q2	-0.0008	-0.0021	0.0004
2006q3	-0.0008	-0.0021	0.0004
2006q4	-0.0004	-0.0017	0.0008
2007q1	-0.0003	-0.0015	0.0010
2007q2	-0.0000	-0.0013	0.0012
2007q3	0.0011	-0.0002	0.0023
2007q4	0.0007	-0.0005	0.0019
2008q1	0.0007	-0.0005	0.0019
2008q2	0.0004	-0.0007	0.0015
2008q3	0.0003	-0.0007	0.0013
2008q4	0.0005	-0.0004	0.0015
2009q1	0.0013	0.0003	0.0022
2009q2	0.0010	0.0001	0.0019
2009q3	0.0012	0.0003	0.0020
2009q4	0.0008	0.0000	0.0017
2010q1	0.0007	-0.0002	0.0015
2010q2	0.0006	-0.0003	0.0015
2010q3	0.0007	-0.0003	0.0016
2010q4	0.0007	-0.0003	0.0017

Return to Figure 7

Exhibit 7b Data: Effect of Profitability and Liability composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.171	0.150	0.191
1993q1	0.166	0.146	0.186
1993q2	0.153	0.133	0.173
1993q3	0.138	0.118	0.158
1993q4	0.144	0.124	0.165
1994q1	0.148	0.127	0.169
1994q2	0.161	0.139	0.183
1994q3	0.174	0.151	0.197
1994q4	0.178	0.153	0.203
1995q1	0.189	0.163	0.215
1995q2	0.191	0.165	0.218
1995q3	0.212	0.184	0.241
1995q4	0.231	0.200	0.261
1996q1	0.216	0.186	0.246
1996q2	0.226	0.196	0.256
1996q3	0.235	0.205	0.265
1996q4	0.223	0.194	0.253
1997q1	0.217	0.187	0.247
1997q2	0.202	0.172	0.232
1997q3	0.208	0.179	0.237
1997q4	0.209	0.181	0.237
1998q1	0.216	0.187	0.244
1998q2	0.196	0.168	0.223
1998q3	0.202	0.173	0.230
1998q4	0.191	0.164	0.219
1999q1	0.181	0.155	0.207
1999q2	0.179	0.153	0.206
1999q3	0.170	0.144	0.197
1999q4	0.175	0.149	0.202
2000q1	0.161	0.135	0.187
2000q2	0.162	0.135	0.188
2000q3	0.180	0.154	0.207
2000q4	0.190	0.164	0.217
2001q1	0.193	0.167	0.219
2001q2	0.177	0.152	0.202
2001q3	0.187	0.162	0.212
2001q4	0.182	0.157	0.206
2002q1	0.182	0.158	0.206
2002q2	0.174	0.150	0.197
2002q3	0.165	0.141	0.188
2002q4	0.166	0.142	0.189
2003q1	0.167	0.143	0.190
2003q2	0.174	0.150	0.197
2003q3	0.170	0.145	0.194
2003q4	0.162	0.138	0.187
2004q1	0.166	0.141	0.191
2004q2	0.168	0.143	0.193
2004q3	0.177	0.151	0.204
2004q4	0.172	0.146	0.198
2005q1	0.162	0.135	0.189
2005q2	0.157	0.129	0.184
2005q3	0.166	0.139	0.193
2005q4	0.177	0.150	0.204
2006q1	0.165	0.140	0.191
2006q2	0.155	0.130	0.181
2006q3	0.147	0.120	0.174
2006q4	0.146	0.120	0.173
2007q1	0.147	0.119	0.174
2007q2	0.146	0.120	0.173
2007q3	0.162	0.136	0.188
2007q4	0.155	0.130	0.181
2008q1	0.153	0.128	0.177
2008q2	0.147	0.125	0.169
2008q3	0.141	0.122	0.160
2008q4	0.139	0.121	0.157
2009q1	0.153	0.136	0.171
2009q2	0.149	0.132	0.165
2009q3	0.149	0.132	0.165
2009q4	0.144	0.128	0.160
2010q1	0.140	0.124	0.156
2010q2	0.142	0.125	0.158
2010q3	0.146	0.128	0.163
2010q4	0.149	0.131	0.167

Return to Figure 7

Exhibit 7c Data: Effect of Profitability and Liability composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.171	0.150	0.191
1993q1	0.166	0.146	0.186
1993q2	0.153	0.133	0.173
1993q3	0.138	0.118	0.158
1993q4	0.144	0.124	0.165
1994q1	0.148	0.127	0.169
1994q2	0.161	0.139	0.183
1994q3	0.174	0.151	0.197
1994q4	0.178	0.153	0.203
1995q1	0.189	0.163	0.215
1995q2	0.191	0.165	0.218
1995q3	0.212	0.184	0.241
1995q4	0.231	0.200	0.261
1996q1	0.216	0.186	0.246
1996q2	0.226	0.196	0.256
1996q3	0.235	0.205	0.265
1996q4	0.223	0.194	0.253
1997q1	0.217	0.187	0.247
1997q2	0.202	0.172	0.232
1997q3	0.208	0.179	0.237
1997q4	0.209	0.181	0.237
1998q1	0.216	0.187	0.244
1998q2	0.196	0.168	0.223
1998q3	0.202	0.173	0.230
1998q4	0.191	0.164	0.219
1999q1	0.181	0.155	0.207
1999q2	0.179	0.153	0.206
1999q3	0.170	0.144	0.197
1999q4	0.175	0.149	0.202
2000q1	0.161	0.135	0.187
2000q2	0.162	0.135	0.188
2000q3	0.180	0.154	0.207
2000q4	0.190	0.164	0.217
2001q1	0.193	0.167	0.219
2001q2	0.177	0.152	0.202
2001q3	0.187	0.162	0.212
2001q4	0.182	0.157	0.206
2002q1	0.182	0.158	0.206
2002q2	0.174	0.150	0.197
2002q3	0.165	0.141	0.188
2002q4	0.166	0.142	0.189
2003q1	0.167	0.143	0.190
2003q2	0.174	0.150	0.197
2003q3	0.170	0.145	0.194
2003q4	0.162	0.138	0.187
2004q1	0.166	0.141	0.191
2004q2	0.168	0.143	0.193
2004q3	0.177	0.151	0.204
2004q4	0.172	0.146	0.198
2005q1	0.162	0.135	0.189
2005q2	0.157	0.129	0.184
2005q3	0.166	0.139	0.193
2005q4	0.177	0.150	0.204
2006q1	0.165	0.140	0.191
2006q2	0.155	0.130	0.181
2006q3	0.147	0.120	0.174
2006q4	0.146	0.120	0.173
2007q1	0.147	0.119	0.174
2007q2	0.146	0.120	0.173
2007q3	0.162	0.136	0.188
2007q4	0.155	0.130	0.181
2008q1	0.153	0.128	0.177
2008q2	0.147	0.125	0.169
2008q3	0.141	0.122	0.160
2008q4	0.139	0.121	0.157
2009q1	0.153	0.136	0.171
2009q2	0.149	0.132	0.165
2009q3	0.149	0.132	0.165
2009q4	0.144	0.128	0.160
2010q1	0.140	0.124	0.156
2010q2	0.142	0.125	0.158
2010q3	0.146	0.128	0.163
2010q4	0.149	0.131	0.167

Return to Figure 7

Exhibit 7d Data: Effect of Profitability and Liability composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	-0.01856	-0.04139	0.00427
1993q1	-0.02005	-0.04160	0.00151
1993q2	-0.01272	-0.03434	0.00890
1993q3	-0.01415	-0.03491	0.00661
1993q4	-0.01602	-0.03618	0.00415
1994q1	-0.02167	-0.04181	-0.00153
1994q2	-0.02004	-0.04080	0.00072
1994q3	-0.03853	-0.05910	-0.01795
1994q4	-0.04245	-0.06427	-0.02062
1995q1	-0.03275	-0.05638	-0.00912
1995q2	-0.02067	-0.04453	0.00318
1995q3	-0.01071	-0.03527	0.01386
1995q4	-0.03267	-0.05588	-0.00946
1996q1	-0.03552	-0.05807	-0.01298
1996q2	-0.03402	-0.05641	-0.01162
1996q3	-0.03407	-0.05623	-0.01192
1996q4	-0.02475	-0.04684	-0.00267
1997q1	-0.02004	-0.04185	0.00176
1997q2	-0.00855	-0.03110	0.01401
1997q3	-0.02567	-0.04761	-0.00373
1997q4	-0.02372	-0.04560	-0.00184
1998q1	-0.02765	-0.04897	-0.00632
1998q2	-0.02547	-0.04674	-0.00420
1998q3	-0.02802	-0.04948	-0.00656
1998q4	-0.01708	-0.03833	0.00418
1999q1	-0.00353	-0.02542	0.01836
1999q2	0.00110	-0.02161	0.02381
1999q3	-0.00776	-0.02959	0.01407
1999q4	-0.00905	-0.03075	0.01265
2000q1	-0.00677	-0.02834	0.01481
2000q2	-0.01551	-0.03692	0.00590
2000q3	-0.01946	-0.04046	0.00153
2000q4	-0.02331	-0.04403	-0.00259
2001q1	-0.01368	-0.03469	0.00732
2001q2	-0.00087	-0.02167	0.01993
2001q3	-0.00275	-0.02431	0.01880
2001q4	0.00006	-0.02029	0.02041
2002q1	0.00379	-0.01619	0.02377
2002q2	0.00563	-0.01393	0.02520
2002q3	0.01180	-0.00768	0.03127
2002q4	0.00888	-0.01070	0.02847
2003q1	0.00341	-0.01606	0.02288
2003q2	0.00437	-0.01523	0.02396
2003q3	0.00876	-0.01066	0.02817
2003q4	0.01184	-0.00798	0.03166
2004q1	0.01567	-0.00504	0.03639
2004q2	0.01344	-0.00741	0.03429
2004q3	0.00135	-0.02070	0.02341
2004q4	-0.01314	-0.03501	0.00873
2005q1	-0.01397	-0.03597	0.00803
2005q2	-0.00899	-0.03215	0.01417
2005q3	-0.02174	-0.04546	0.00198
2005q4	-0.02614	-0.05007	-0.00222
2006q1	-0.02672	-0.05098	-0.00247
2006q2	-0.02052	-0.04564	0.00459
2006q3	-0.02684	-0.05195	-0.00174
2006q4	-0.02949	-0.05525	-0.00372
2007q1	-0.02383	-0.05071	0.00305
2007q2	-0.01680	-0.04346	0.00986
2007q3	-0.01048	-0.03648	0.01551
2007q4	0.00287	-0.02330	0.02903
2008q1	0.00334	-0.02098	0.02765
2008q2	0.01055	-0.01373	0.03484
2008q3	-0.00052	-0.02398	0.02294
2008q4	-0.00298	-0.02625	0.02028
2009q1	-0.00439	-0.02695	0.01818
2009q2	-0.00602	-0.02801	0.01597
2009q3	-0.00871	-0.02954	0.01213
2009q4	-0.01639	-0.03638	0.00360
2010q1	-0.01237	-0.03210	0.00736
2010q2	-0.00745	-0.02730	0.01241
2010q3	0.00123	-0.01934	0.02180
2010q4	-0.00464	-0.02471	0.01542

Return to Figure 7

Exhibit 7e Data: Effect of Profitability and Liability composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.0028	-0.0057	0.0112
1993q1	0.0027	-0.0058	0.0113
1993q2	0.0034	-0.0052	0.0121
1993q3	0.0059	-0.0028	0.0146
1993q4	0.0085	-0.0005	0.0175
1994q1	0.0034	-0.0058	0.0125
1994q2	-0.0047	-0.0141	0.0046
1994q3	-0.0116	-0.0213	-0.0018
1994q4	-0.0190	-0.0291	-0.0090
1995q1	-0.0217	-0.0321	-0.0113
1995q2	-0.0216	-0.0321	-0.0111
1995q3	-0.0194	-0.0299	-0.0089
1995q4	-0.0195	-0.0296	-0.0093
1996q1	-0.0237	-0.0338	-0.0137
1996q2	-0.0229	-0.0328	-0.0130
1996q3	-0.0227	-0.0326	-0.0128
1996q4	-0.0230	-0.0329	-0.0131
1997q1	-0.0161	-0.0260	-0.0062
1997q2	-0.0119	-0.0219	-0.0019
1997q3	-0.0086	-0.0185	0.0013
1997q4	-0.0048	-0.0147	0.0051
1998q1	-0.0002	-0.0100	0.0096
1998q2	0.0022	-0.0075	0.0118
1998q3	0.0016	-0.0077	0.0109
1998q4	-0.0009	-0.0100	0.0082
1999q1	-0.0033	-0.0123	0.0057
1999q2	-0.0038	-0.0128	0.0052
1999q3	-0.0084	-0.0175	0.0007
1999q4	-0.0139	-0.0230	-0.0048
2000q1	-0.0189	-0.0282	-0.0095
2000q2	-0.0230	-0.0328	-0.0133
2000q3	-0.0177	-0.0277	-0.0076
2000q4	-0.0153	-0.0258	-0.0047
2001q1	-0.0100	-0.0202	0.0002
2001q2	-0.0046	-0.0146	0.0055
2001q3	-0.0015	-0.0111	0.0081
2001q4	-0.0017	-0.0112	0.0078
2002q1	-0.0013	-0.0109	0.0082
2002q2	0.0011	-0.0085	0.0107
2002q3	0.0045	-0.0052	0.0142
2002q4	0.0052	-0.0045	0.0149
2003q1	0.0048	-0.0049	0.0145
2003q2	0.0056	-0.0039	0.0151
2003q3	0.0011	-0.0085	0.0107
2003q4	-0.0009	-0.0106	0.0087
2004q1	-0.0024	-0.0121	0.0072
2004q2	-0.0058	-0.0157	0.0041
2004q3	-0.0090	-0.0190	0.0010
2004q4	-0.0060	-0.0161	0.0041
2005q1	-0.0038	-0.0142	0.0066
2005q2	-0.0030	-0.0137	0.0076
2005q3	-0.0062	-0.0171	0.0046
2005q4	-0.0081	-0.0190	0.0029
2006q1	-0.0108	-0.0220	0.0004
2006q2	-0.0156	-0.0268	-0.0043
2006q3	-0.0145	-0.0261	-0.0029
2006q4	-0.0150	-0.0267	-0.0033
2007q1	-0.0144	-0.0258	-0.0029
2007q2	-0.0125	-0.0236	-0.0014
2007q3	-0.0094	-0.0202	0.0015
2007q4	-0.0097	-0.0203	0.0010
2008q1	-0.0105	-0.0209	0.0000
2008q2	-0.0159	-0.0262	-0.0057
2008q3	-0.0231	-0.0336	-0.0126
2008q4	-0.0205	-0.0312	-0.0099
2009q1	-0.0196	-0.0304	-0.0087
2009q2	-0.0178	-0.0288	-0.0067
2009q3	-0.0166	-0.0279	-0.0052
2009q4	-0.0156	-0.0273	-0.0040
2010q1	-0.0185	-0.0303	-0.0068
2010q2	-0.0132	-0.0252	-0.0012
2010q3	-0.0040	-0.0159	0.0080
2010q4	-0.0024	-0.0144	0.0096

Return to Figure 7

Exhibit 7f Data: Effect of Profitability and Liability composition

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.0138	0.0041	0.0234
1993q1	0.0130	0.0032	0.0228
1993q2	0.0105	0.0006	0.0204
1993q3	0.0120	0.0019	0.0221
1993q4	0.0176	0.0072	0.0281
1994q1	0.0150	0.0044	0.0255
1994q2	0.0076	-0.0032	0.0184
1994q3	0.0003	-0.0108	0.0113
1994q4	-0.0056	-0.0169	0.0056
1995q1	-0.0066	-0.0181	0.0049
1995q2	-0.0066	-0.0181	0.0049
1995q3	-0.0044	-0.0158	0.0070
1995q4	-0.0053	-0.0164	0.0058
1996q1	-0.0090	-0.0200	0.0020
1996q2	-0.0065	-0.0175	0.0045
1996q3	-0.0082	-0.0192	0.0029
1996q4	-0.0110	-0.0221	0.0001
1997q1	-0.0041	-0.0152	0.0070
1997q2	0.0019	-0.0093	0.0132
1997q3	0.0035	-0.0076	0.0147
1997q4	0.0116	0.0004	0.0227
1998q1	0.0145	0.0034	0.0256
1998q2	0.0143	0.0033	0.0252
1998q3	0.0122	0.0016	0.0229
1998q4	0.0095	-0.0010	0.0200
1999q1	0.0058	-0.0047	0.0163
1999q2	0.0063	-0.0042	0.0168
1999q3	-0.0008	-0.0114	0.0099
1999q4	-0.0034	-0.0140	0.0073
2000q1	-0.0065	-0.0173	0.0043
2000q2	-0.0110	-0.0221	0.0002
2000q3	-0.0070	-0.0184	0.0044
2000q4	-0.0076	-0.0194	0.0043
2001q1	-0.0021	-0.0137	0.0095
2001q2	0.0047	-0.0067	0.0162
2001q3	0.0085	-0.0027	0.0196
2001q4	0.0081	-0.0031	0.0193
2002q1	0.0067	-0.0045	0.0180
2002q2	0.0081	-0.0033	0.0195
2002q3	0.0136	0.0022	0.0250
2002q4	0.0117	0.0002	0.0232
2003q1	0.0121	0.0006	0.0236
2003q2	0.0158	0.0045	0.0270
2003q3	0.0130	0.0016	0.0243
2003q4	0.0132	0.0017	0.0247
2004q1	0.0115	0.0001	0.0229
2004q2	0.0070	-0.0046	0.0186
2004q3	0.0037	-0.0080	0.0154
2004q4	0.0088	-0.0030	0.0205
2005q1	0.0117	-0.0003	0.0238
2005q2	0.0127	0.0005	0.0250
2005q3	0.0076	-0.0047	0.0199
2005q4	0.0055	-0.0068	0.0178
2006q1	0.0031	-0.0094	0.0156
2006q2	-0.0003	-0.0128	0.0122
2006q3	0.0006	-0.0122	0.0134
2006q4	-0.0012	-0.0143	0.0118
2007q1	-0.0004	-0.0131	0.0124
2007q2	-0.0005	-0.0129	0.0119
2007q3	0.0056	-0.0065	0.0177
2007q4	0.0034	-0.0085	0.0153
2008q1	0.0019	-0.0099	0.0136
2008q2	-0.0062	-0.0178	0.0053
2008q3	-0.0163	-0.0281	-0.0045
2008q4	-0.0160	-0.0280	-0.0040
2009q1	-0.0157	-0.0280	-0.0034
2009q2	-0.0133	-0.0258	-0.0008
2009q3	-0.0123	-0.0251	0.0005
2009q4	-0.0114	-0.0243	0.0015
2010q1	-0.0135	-0.0265	-0.0005
2010q2	-0.0046	-0.0177	0.0086
2010q3	0.0050	-0.0080	0.0180
2010q4	0.0071	-0.0059	0.0201

Return to Figure 7

Exhibit 8a Data: Selected Regulatory and Local Economic Effects

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.0762	0.0011	0.1512
1993q1	0.0903	0.0149	0.1658
1993q2	0.1029	0.0270	0.1788
1993q3	0.1414	0.0648	0.2181
1993q4	0.1401	0.0624	0.2177
1994q1	0.1622	0.0839	0.2404
1994q2	0.1730	0.0940	0.2520
1994q3	0.1643	0.0843	0.2442
1994q4	0.1916	0.1102	0.2730
1995q1	0.1606	0.0775	0.2437
1995q2	0.1598	0.0756	0.2440
1995q3	0.1092	0.0236	0.1947
1995q4	0.1090	0.0225	0.1955
1996q1	0.1125	0.0250	0.2000
1996q2	0.0693	-0.0185	0.1570
1996q3	0.0482	-0.0410	0.1375
1996q4	-0.0316	-0.1218	0.0586
1997q1	0.0217	-0.0688	0.1121
1997q2	0.0558	-0.0354	0.1470
1997q3	0.0910	-0.0008	0.1829
1997q4	0.0808	-0.0129	0.1745
1998q1	0.1091	0.0146	0.2035
1998q2	0.1303	0.0360	0.2246
1998q3	0.1817	0.0862	0.2771
1998q4	0.1607	0.0646	0.2567
1999q1	0.1938	0.0971	0.2906
1999q2	0.1431	0.0455	0.2406
1999q3	0.1347	0.0358	0.2336
1999q4	0.1617	0.0624	0.2611
2000q1	0.1547	0.0550	0.2545
2000q2	0.1717	0.0711	0.2723
2000q3	0.1475	0.0457	0.2492
2000q4	0.1304	0.0272	0.2336
2001q1	0.1091	0.0057	0.2124
2001q2	0.1130	0.0081	0.2180
2001q3	0.1614	0.0564	0.2663
2001q4	0.1258	0.0197	0.2319
2002q1	0.1281	0.0219	0.2343
2002q2	0.1421	0.0356	0.2486
2002q3	0.1512	0.0433	0.2591
2002q4	0.1063	-0.0017	0.2144
2003q1	0.0982	-0.0106	0.2069
2003q2	0.0645	-0.0450	0.1740
2003q3	0.1074	-0.0032	0.2180
2003q4	0.0957	-0.0159	0.2073
2004q1	0.1103	-0.0018	0.2225
2004q2	0.1699	0.0562	0.2836
2004q3	0.2255	0.1107	0.3402
2004q4	0.1537	0.0385	0.2688
2005q1	0.1375	0.0214	0.2536
2005q2	0.1265	0.0077	0.2453
2005q3	0.0938	-0.0265	0.2140
2005q4	0.1349	0.0143	0.2556
2006q1	0.1085	-0.0129	0.2299
2006q2	0.1353	0.0118	0.2588
2006q3	0.1419	0.0170	0.2668
2006q4	0.1512	0.0237	0.2787
2007q1	0.1474	0.0206	0.2742
2007q2	0.1305	0.0026	0.2585
2007q3	0.1609	0.0318	0.2900
2007q4	0.1074	-0.0220	0.2367
2008q1	0.0972	-0.0305	0.2250
2008q2	0.0702	-0.0564	0.1969
2008q3	0.0913	-0.0354	0.2179
2008q4	0.1436	0.0167	0.2706
2009q1	0.0951	-0.0314	0.2217
2009q2	0.1016	-0.0237	0.2269
2009q3	0.0782	-0.0463	0.2027
2009q4	0.0454	-0.0795	0.1704
2010q1	-0.0064	-0.1336	0.1209
2010q2	-0.0108	-0.1395	0.1180
2010q3	-0.0460	-0.1765	0.0845
2010q4	-0.0628	-0.1939	0.0683

Return to Figure 8

Exhibit 8b Data: Selected Regulatory and Local Economic Effects

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.176	-0.220	0.572
1993q1	0.203	-0.172	0.579
1993q2	0.228	-0.135	0.591
1993q3	0.273	-0.089	0.635
1993q4	0.385	0.023	0.746
1994q1	0.462	0.081	0.842
1994q2	0.505	0.111	0.899
1994q3	0.472	0.097	0.847
1994q4	0.181	-0.176	0.537
1995q1	0.248	-0.085	0.582
1995q2	0.097	-0.216	0.411
1995q3	0.074	-0.212	0.361
1995q4	0.041	-0.240	0.321
1996q1	0.185	-0.082	0.451
1996q2	0.023	-0.248	0.295
1996q3	-0.124	-0.419	0.172
1996q4	-0.106	-0.400	0.188
1997q1	0.098	-0.180	0.376
1997q2	0.028	-0.258	0.314
1997q3	0.178	-0.124	0.481
1997q4	0.430	0.127	0.733
1998q1	0.480	0.166	0.794
1998q2	0.459	0.140	0.778
1998q3	0.487	0.171	0.803
1998q4	0.398	0.096	0.700
1999q1	0.301	-0.016	0.618
1999q2	0.244	-0.056	0.544
1999q3	0.156	-0.166	0.477
1999q4	-0.129	-0.437	0.180
2000q1	-0.156	-0.482	0.170
2000q2	-0.064	-0.401	0.273
2000q3	0.179	-0.190	0.548
2000q4	0.178	-0.197	0.553
2001q1	0.157	-0.244	0.558
2001q2	0.147	-0.254	0.547
2001q3	0.174	-0.183	0.531
2001q4	0.058	-0.285	0.402
2002q1	-0.032	-0.381	0.317
2002q2	0.173	-0.187	0.533
2002q3	0.191	-0.181	0.563
2002q4	0.178	-0.184	0.540
2003q1	0.234	-0.128	0.596
2003q2	0.237	-0.132	0.605
2003q3	0.332	-0.065	0.728
2003q4	0.503	0.045	0.960
2004q1	0.467	-0.002	0.937
2004q2	0.422	-0.022	0.865
2004q3	0.294	-0.104	0.692
2004q4	0.409	0.017	0.801
2005q1	0.396	0.019	0.773
2005q2	0.221	-0.156	0.599
2005q3	0.161	-0.224	0.547
2005q4	0.187	-0.208	0.582
2006q1	0.300	-0.132	0.733
2006q2	0.461	0.014	0.909
2006q3	0.541	0.067	1.014
2006q4	0.452	0.033	0.872
2007q1	0.196	-0.228	0.620
2007q2	0.268	-0.127	0.663
2007q3	0.329	-0.068	0.727
2007q4	0.292	-0.115	0.698
2008q1	0.161	-0.231	0.553
2008q2	0.135	-0.278	0.549
2008q3	0.065	-0.335	0.465
2008q4	0.306	-0.128	0.740
2009q1	0.409	-0.034	0.852
2009q2	0.353	-0.069	0.776
2009q3	0.708	0.246	1.170
2009q4	0.850	0.364	1.337
2010q1	0.761	0.252	1.271
2010q2	0.945	0.420	1.470
2010q3	0.846	0.339	1.353
2010q4	0.703	0.216	1.189

Return to Figure 8

Exhibit 8c Data: Selected Regulatory and Local Economic Effects

Date	Coefficient	Lower Bound	Upper Bound
1992q4	0.0391	0.0072	0.0711
1993q1	0.0240	-0.0084	0.0565
1993q2	0.0114	-0.0211	0.0439
1993q3	0.0063	-0.0268	0.0395
1993q4	0.0251	-0.0094	0.0595
1994q1	0.0366	0.0009	0.0724
1994q2	0.0456	0.0082	0.0830
1994q3	0.0604	0.0216	0.0992
1994q4	0.0540	0.0142	0.0938
1995q1	0.0306	-0.0114	0.0725
1995q2	0.0260	-0.0184	0.0704
1995q3	0.0272	-0.0204	0.0748
1995q4	0.0167	-0.0334	0.0667
1996q1	0.0134	-0.0383	0.0650
1996q2	0.0156	-0.0362	0.0673
1996q3	0.0295	-0.0218	0.0808
1996q4	0.0123	-0.0384	0.0631
1997q1	0.0165	-0.0341	0.0671
1997q2	-0.0042	-0.0546	0.0463
1997q3	0.0079	-0.0424	0.0582
1997q4	-0.0020	-0.0532	0.0491
1998q1	0.0104	-0.0417	0.0625
1998q2	0.0422	-0.0115	0.0959
1998q3	0.0206	-0.0353	0.0765
1998q4	0.0339	-0.0241	0.0920
1999q1	0.0090	-0.0511	0.0691
1999q2	-0.0145	-0.0754	0.0463
1999q3	-0.0289	-0.0905	0.0328
1999q4	-0.0081	-0.0701	0.0538
2000q1	-0.0223	-0.0843	0.0397
2000q2	-0.0166	-0.0796	0.0465
2000q3	-0.0326	-0.0968	0.0315
2000q4	-0.0133	-0.0783	0.0516
2001q1	0.0165	-0.0477	0.0808
2001q2	0.0445	-0.0178	0.1068
2001q3	0.0188	-0.0385	0.0761
2001q4	0.0114	-0.0430	0.0659
2002q1	0.0393	-0.0134	0.0921
2002q2	0.0227	-0.0305	0.0759
2002q3	0.0181	-0.0379	0.0741
2002q4	0.0045	-0.0542	0.0632
2003q1	0.0113	-0.0488	0.0714
2003q2	-0.0217	-0.0826	0.0393
2003q3	0.0138	-0.0474	0.0749
2003q4	0.0180	-0.0443	0.0802
2004q1	0.0348	-0.0278	0.0973
2004q2	0.0328	-0.0295	0.0952
2004q3	0.0721	0.0094	0.1347
2004q4	0.0527	-0.0086	0.1140
2005q1	0.0476	-0.0133	0.1086
2005q2	0.0366	-0.0244	0.0975
2005q3	0.0708	0.0103	0.1312
2005q4	0.0808	0.0217	0.1399
2006q1	0.0810	0.0228	0.1393
2006q2	0.1193	0.0603	0.1782
2006q3	0.0775	0.0192	0.1359
2006q4	0.0793	0.0201	0.1385
2007q1	0.0458	-0.0135	0.1052
2007q2	0.0189	-0.0412	0.0790
2007q3	0.0235	-0.0365	0.0834
2007q4	0.0111	-0.0492	0.0715
2008q1	-0.0068	-0.0655	0.0520
2008q2	-0.0174	-0.0722	0.0374
2008q3	-0.0493	-0.0964	-0.0023
2008q4	-0.0744	-0.1127	-0.0362
2009q1	-0.0600	-0.0903	-0.0298
2009q2	-0.0293	-0.0543	-0.0042
2009q3	-0.0154	-0.0384	0.0076
2009q4	-0.0036	-0.0276	0.0204
2010q1	0.0003	-0.0262	0.0269
2010q2	-0.0092	-0.0388	0.0204
2010q3	0.0016	-0.0297	0.0329
2010q4	0.0152	-0.0171	0.0474

Return to Figure 8

Exhibit 8d Data: Selected Regulatory and Local Economic Effects

Date	Coefficient	Lower Bound	Upper Bound
1992q4	-0.02158	-0.03767	-0.00549
1993q1	-0.01948	-0.03580	-0.00317
1993q2	-0.01733	-0.03372	-0.00095
1993q3	-0.01380	-0.03008	0.00248
1993q4	-0.00940	-0.02635	0.00755
1994q1	-0.00181	-0.01942	0.01580
1994q2	0.01056	-0.00713	0.02825
1994q3	0.01441	-0.00269	0.03150
1994q4	0.01288	-0.00360	0.02936
1995q1	0.00254	-0.01381	0.01889
1995q2	-0.00932	-0.02601	0.00737
1995q3	-0.01894	-0.03656	-0.00132
1995q4	-0.01296	-0.03151	0.00559
1996q1	-0.00829	-0.02752	0.01094
1996q2	-0.00786	-0.02739	0.01168
1996q3	-0.01198	-0.03225	0.00828
1996q4	-0.00308	-0.02399	0.01783
1997q1	-0.00467	-0.02681	0.01747
1997q2	0.00034	-0.02286	0.02355
1997q3	-0.00747	-0.03102	0.01607
1997q4	-0.01314	-0.03651	0.01022
1998q1	-0.01845	-0.04056	0.00366
1998q2	-0.01945	-0.04058	0.00169
1998q3	-0.01678	-0.03721	0.00364
1998q4	-0.01076	-0.03109	0.00956
1999q1	0.00190	-0.01846	0.02225
1999q2	0.01479	-0.00517	0.03476
1999q3	0.01315	-0.00621	0.03251
1999q4	0.01462	-0.00356	0.03280
2000q1	0.00383	-0.01289	0.02054
2000q2	0.00071	-0.01486	0.01628
2000q3	-0.00279	-0.01760	0.01203
2000q4	-0.00066	-0.01523	0.01391
2001q1	-0.00021	-0.01410	0.01368
2001q2	-0.00059	-0.01444	0.01326
2001q3	0.00499	-0.00891	0.01889
2001q4	0.00278	-0.01117	0.01673
2002q1	0.00656	-0.00772	0.02085
2002q2	0.00837	-0.00605	0.02279
2002q3	0.00470	-0.00986	0.01925
2002q4	0.00573	-0.00886	0.02033
2003q1	-0.00179	-0.01633	0.01275
2003q2	0.00596	-0.00849	0.02042
2003q3	0.01068	-0.00354	0.02489
2003q4	0.00769	-0.00614	0.02152
2004q1	0.00337	-0.00990	0.01663
2004q2	-0.00014	-0.01290	0.01262
2004q3	-0.00167	-0.01366	0.01032
2004q4	-0.00923	-0.02071	0.00226
2005q1	-0.01014	-0.02135	0.00108
2005q2	-0.00721	-0.01853	0.00411
2005q3	-0.00193	-0.01329	0.00944
2005q4	-0.00082	-0.01225	0.01062
2006q1	0.00425	-0.00732	0.01582
2006q2	0.01252	0.00116	0.02389
2006q3	0.01292	0.00210	0.02375
2006q4	0.01308	0.00254	0.02363
2007q1	0.01443	0.00406	0.02480
2007q2	0.01978	0.00965	0.02992
2007q3	0.02797	0.01779	0.03814
2007q4	0.02222	0.01220	0.03225
2008q1	0.02227	0.01220	0.03234
2008q2	0.02276	0.01245	0.03306
2008q3	0.01120	0.00063	0.02178
2008q4	-0.00144	-0.01206	0.00919
2009q1	-0.00681	-0.01728	0.00366
2009q2	-0.00684	-0.01700	0.00332
2009q3	-0.01177	-0.02128	-0.00225
2009q4	-0.00999	-0.01919	-0.00080
2010q1	-0.00652	-0.01597	0.00292
2010q2	-0.00372	-0.01415	0.00671
2010q3	0.00583	-0.00654	0.01819
2010q4	0.01536	0.00123	0.02948

Return to Figure 8

Exhibit 9a Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Date	Aggregate	Adjusted risk tolerance component	Composition component
1992q4	1.8065	1.8065	0.0000
1993q1	1.9595	1.9274	0.0322
1993q2	2.0644	1.9885	0.0760
1993q3	2.2171	2.0809	0.1362
1993q4	2.2690	2.0981	0.1708
1994q1	2.1931	1.9772	0.2159
1994q2	2.0731	1.8155	0.2576
1994q3	1.9005	1.6041	0.2965
1994q4	1.7140	1.3839	0.3301
1995q1	1.6843	1.3092	0.3751
1995q2	1.7139	1.2983	0.4157
1995q3	1.7812	1.3272	0.4540
1995q4	1.8534	1.3697	0.4836
1996q1	1.9271	1.4033	0.5237
1996q2	1.9458	1.3867	0.5592
1996q3	1.9320	1.3562	0.5758
1996q4	1.9836	1.3874	0.5962
1997q1	1.9334	1.3138	0.6196
1997q2	1.9212	1.2828	0.6384
1997q3	2.0092	1.3588	0.6505
1997q4	1.9771	1.3147	0.6624
1998q1	2.0492	1.3735	0.6757
1998q2	2.0674	1.3970	0.6704
1998q3	1.9895	1.3370	0.6525
1998q4	2.0160	1.3671	0.6490
1999q1	2.0349	1.3921	0.6428
1999q2	1.9320	1.2902	0.6417
1999q3	1.8111	1.1932	0.6179
1999q4	1.7536	1.1547	0.5989
2000q1	1.6280	1.0176	0.6104
2000q2	1.5611	0.9478	0.6133
2000q3	1.5562	0.9740	0.5821
2000q4	1.4942	0.9323	0.5619
2001q1	1.5729	1.0587	0.5142
2001q2	1.7361	1.2485	0.4877
2001q3	1.8547	1.3888	0.4659
2001q4	2.0449	1.6095	0.4353
2002q1	2.1966	1.7892	0.4074
2002q2	2.2647	1.8499	0.4148
2002q3	2.2526	1.8454	0.4072
2002q4	2.6358	2.2228	0.4130
2003q1	2.6590	2.2400	0.4190
2003q2	2.8780	2.4581	0.4199
2003q3	2.9362	2.5252	0.4110
2003q4	3.0558	2.6446	0.4112
2004q1	3.1900	2.7699	0.4201
2004q2	3.1898	2.7646	0.4252
2004q3	3.2973	2.8630	0.4342
2004q4	3.3855	2.9366	0.4489
2005q1	3.3869	2.9288	0.4581
2005q2	3.3655	2.8895	0.4760
2005q3	3.3190	2.8487	0.4703
2005q4	3.1527	2.6780	0.4748
2006q1	2.9423	2.4724	0.4699
2006q2	2.6607	2.1887	0.4720
2006q3	2.3506	1.9237	0.4270
2006q4	2.1373	1.7282	0.4091
2007q1	1.8518	1.4570	0.3949
2007q2	1.6558	1.2856	0.3702
2007q3	1.3184	1.0340	0.2844
2007q4	1.1312	0.9040	0.2272
2008q1	0.8374	0.7084	0.1290
2008q2	0.7678	0.7303	0.0375
2008q3	0.4743	0.5701	-0.0958
2008q4	0.2410	0.4564	-0.2154
2009q1	0.4285	0.7970	-0.3684
2009q2	0.7053	1.1964	-0.4910
2009q3	1.0946	1.6939	-0.5993
2009q4	1.4876	2.1957	-0.7081
2010q1	1.8874	2.6880	-0.8006
2010q2	2.1971	3.0466	-0.8495
2010q3	2.3810	3.2519	-0.8709
2010q4	2.4860	3.3785	-0.8925

Return to Figure 9a

Exhibit 9b Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Date	Adjusted risk tolerance componet	Unadjusted risk tolerance component
1992q4	1.806	2.526
1993q1	1.927	2.730
1993q2	1.988	2.257
1993q3	2.081	1.925
1993q4	2.098	2.287
1994q1	1.977	2.351
1994q2	1.815	2.102
1994q3	1.604	1.752
1994q4	1.384	1.609
1995q1	1.309	1.265
1995q2	1.298	0.838
1995q3	1.327	1.045
1995q4	1.370	1.167
1996q1	1.403	0.700
1996q2	1.387	0.562
1996q3	1.356	0.578
1996q4	1.387	0.081
1997q1	1.314	0.484
1997q2	1.283	1.067
1997q3	1.359	1.020
1997q4	1.315	1.840
1998q1	1.374	1.752
1998q2	1.397	2.161
1998q3	1.337	1.730
1998q4	1.367	1.808
1999q1	1.392	2.107
1999q2	1.290	1.805
1999q3	1.193	1.218
1999q4	1.155	0.911
2000q1	1.018	0.569
2000q2	0.948	0.104
2000q3	0.974	0.343
2000q4	0.932	0.786
2001q1	1.059	1.443
2001q2	1.248	2.422
2001q3	1.389	2.271
2001q4	1.610	1.935
2002q1	1.789	2.116
2002q2	1.850	2.256
2002q3	1.845	2.027
2002q4	2.223	1.717
2003q1	2.240	2.016
2003q2	2.458	2.608
2003q3	2.525	2.687
2003q4	2.645	2.338
2004q1	2.770	2.692
2004q2	2.765	2.068
2004q3	2.863	2.768
2004q4	2.937	2.579
2005q1	2.929	2.988
2005q2	2.890	3.007
2005q3	2.849	2.495
2005q4	2.678	2.105
2006q1	2.472	2.281
2006q2	2.189	2.141
2006q3	1.924	2.062
2006q4	1.728	2.061
2007q1	1.457	1.716
2007q2	1.286	1.325
2007q3	1.034	1.749
2007q4	0.904	1.349
2008q1	0.708	1.157
2008q2	0.730	0.607
2008q3	0.570	-0.286
2008q4	0.456	0.066
2009q1	0.797	0.529
2009q2	1.196	1.048
2009q3	1.694	1.974
2009q4	2.196	2.315
2010q1	2.688	2.283
2010q2	3.047	2.870
2010q3	3.252	3.319
2010q4	3.379	3.853

Return to Figure 9b

Exhibit 9c Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Date	CAMELS==1 fitted	CAMELS==1 residual	CAMELS==2 fitted	CAMELS==2 residual	CAMELS==3 fitted	CAMELS==3 residual	CAMELS==4 fitted	CAMELS==4 residual
1992q4	2.64	3.61	-0.43	0.61	-2.10	-1.03	-4.74	-3.29
1993q1	2.78	3.73	-0.29	0.72	-1.94	-0.84	-4.42	-2.97
1993q2	2.85	3.21	-0.26	0.20	-1.89	-1.35	-4.28	-3.39
1993q3	2.96	2.83	-0.20	-0.21	-1.80	-1.68	-4.09	-3.73
1993q4	2.98	3.17	-0.20	0.09	-1.78	-1.40	-4.03	-3.37
1994q1	2.85	3.21	-0.32	0.12	-1.90	-1.33	-4.18	-3.13
1994q2	2.67	2.97	-0.50	-0.15	-2.08	-1.64	-4.44	-3.58
1994q3	2.44	2.62	-0.69	-0.53	-2.27	-2.12	-4.71	-4.66
1994q4	2.20	2.47	-0.96	-0.74	-2.54	-2.35	-5.11	-5.33
1995q1	2.12	2.14	-1.07	-1.17	-2.65	-2.84	-5.28	-5.83
1995q2	2.12	1.67	-1.11	-1.65	-2.68	-3.21	-5.33	-6.15
1995q3	2.16	1.84	-1.14	-1.51	-2.71	-3.15	-5.35	-6.13
1995q4	2.21	1.95	-1.11	-1.42	-2.67	-3.09	-5.28	-6.19
1996q1	2.25	1.47	-1.07	-1.90	-2.62	-3.54	-5.18	-5.94
1996q2	2.23	1.34	-1.07	-2.01	-2.62	-3.73	-5.14	-6.23
1996q3	2.19	1.34	-1.10	-2.03	-2.65	-3.69	-5.10	-6.68
1996q4	2.23	0.83	-1.01	-2.50	-2.55	-4.10	-4.91	-6.59
1997q1	2.14	1.21	-1.09	-2.05	-2.63	-3.53	-4.99	-6.07
1997q2	2.10	1.79	-1.13	-1.46	-2.67	-2.95	-4.99	-5.29
1997q3	2.20	1.74	-1.02	-1.45	-2.54	-2.91	-4.77	-5.10
1997q4	2.15	2.59	-1.10	-0.68	-2.62	-2.18	-4.83	-4.06
1998q1	2.23	2.51	-1.03	-0.72	-2.53	-2.36	-4.69	-4.44
1998q2	2.26	2.93	-1.00	-0.26	-2.48	-1.89	-4.62	-3.87
1998q3	2.21	2.54	-1.04	-0.68	-2.53	-2.28	-4.59	-4.25
1998q4	2.27	2.65	-0.95	-0.56	-2.42	-2.07	-4.36	-3.93
1999q1	2.31	2.97	-0.88	-0.17	-2.33	-1.61	-4.20	-3.60
1999q2	2.20	2.69	-0.97	-0.46	-2.42	-1.95	-4.33	-3.94
1999q3	2.10	2.12	-1.05	-1.05	-2.50	-2.47	-4.46	-4.26
1999q4	2.06	1.83	-1.09	-1.34	-2.54	-2.82	-4.61	-5.20
2000q1	1.92	1.50	-1.20	-1.63	-2.66	-3.07	-4.82	-5.22
2000q2	1.86	1.06	-1.30	-2.09	-2.76	-3.51	-5.04	-5.84
2000q3	1.90	1.32	-1.28	-1.88	-2.73	-3.30	-5.08	-5.72
2000q4	1.86	1.78	-1.37	-1.46	-2.83	-2.91	-5.29	-5.03
2001q1	2.00	2.43	-1.28	-0.80	-2.70	-2.17	-5.27	-4.39
2001q2	2.21	3.40	-1.09	0.15	-2.50	-1.24	-5.03	-3.45
2001q3	2.36	3.26	-1.00	0.01	-2.42	-1.34	-5.01	-3.80
2001q4	2.60	2.93	-0.69	-0.36	-2.10	-1.65	-4.59	-4.39
2002q1	2.79	3.10	-0.49	-0.18	-1.90	-1.58	-4.38	-4.59
2002q2	2.86	3.26	-0.38	-0.03	-1.80	-1.44	-4.15	-4.41
2002q3	2.86	3.04	-0.39	-0.26	-1.83	-1.70	-4.13	-4.08
2002q4	3.28	2.72	0.10	-0.54	-1.31	-2.04	-3.40	-4.15
2003q1	3.27	3.03	0.01	-0.20	-1.43	-1.67	-3.50	-3.88
2003q2	3.50	3.60	0.28	0.37	-1.14	-1.09	-3.07	-3.15
2003q3	3.55	3.68	0.31	0.42	-1.12	-1.03	-2.98	-3.02
2003q4	3.66	3.30	0.41	0.04	-1.01	-1.37	-2.81	-3.21
2004q1	3.79	3.66	0.54	0.37	-0.88	-1.03	-2.67	-2.71
2004q2	3.77	3.06	0.47	-0.29	-0.95	-1.75	-2.80	-3.32
2004q3	3.87	3.79	0.54	0.40	-0.87	-1.10	-2.74	-2.93
2004q4	3.95	3.61	0.58	0.27	-0.82	-1.17	-2.72	-3.16
2005q1	3.94	4.04	0.53	0.66	-0.87	-0.83	-2.82	-2.67
2005q2	3.90	4.05	0.45	0.60	-0.95	-0.77	-2.95	-2.74
2005q3	3.86	3.53	0.40	0.08	-1.00	-1.30	-3.03	-3.15
2005q4	3.68	3.13	0.21	-0.31	-1.21	-1.73	-3.24	-3.59
2006q1	3.47	3.31	0.02	-0.12	-1.39	-1.48	-3.40	-3.48
2006q2	3.17	3.18	-0.27	-0.27	-1.69	-1.61	-3.68	-3.62
2006q3	2.89	3.07	-0.52	-0.36	-1.94	-1.75	-3.85	-3.63
2006q4	2.69	3.08	-0.69	-0.36	-2.11	-1.79	-3.91	-3.68
2007q1	2.40	2.73	-0.97	-0.63	-2.40	-2.00	-4.15	-3.44
2007q2	2.22	2.33	-1.09	-0.96	-2.51	-2.30	-4.17	-3.81
2007q3	1.96	2.74	-1.31	-0.46	-2.74	-1.76	-4.31	-3.37
2007q4	1.84	2.35	-1.34	-0.79	-2.76	-2.16	-4.19	-3.69
2008q1	1.65	2.17	-1.49	-0.92	-2.91	-2.30	-4.24	-3.67
2008q2	1.69	1.63	-1.36	-1.40	-2.77	-2.81	-4.00	-4.02
2008q3	1.58	0.73	-1.37	-2.26	-2.79	-3.74	-4.05	-5.10
2008q4	1.49	1.10	-1.43	-1.86	-2.89	-3.35	-4.26	-4.77
2009q1	1.88	1.57	-1.01	-1.38	-2.49	-2.88	-3.97	-4.36
2009q2	2.30	2.09	-0.63	-0.85	-2.14	-2.36	-3.77	-3.85
2009q3	2.79	3.04	-0.19	0.09	-1.75	-1.50	-3.53	-3.01
2009q4	3.28	3.37	0.27	0.42	-1.35	-1.20	-3.19	-2.77
2010q1	3.75	3.32	0.72	0.35	-0.94	-1.32	-2.75	-2.99
2010q2	4.10	3.93	1.08	0.87	-0.61	-0.86	-2.25	-2.67
2010q3	4.28	4.35	1.26	1.29	-0.46	-0.42	-1.93	-2.24
2010q4	4.41	4.86	1.42	1.79	-0.28	0.10	-1.57	-1.70

Return to Figure 9c

Exhibit 10 Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Date	Supervisory stringency with macro indicators and time-varying parameters
1992q4	8.94
1993q1	5.83
1993q2	4.25
1993q3	2.46
1993q4	1.11
1994q1	0.82
1994q2	1.16
1994q3	0.89
1994q4	1.04
1995q1	0.86
1995q2	-0.05
1995q3	-1.01
1995q4	-1.66
1996q1	-1.94
1996q2	-1.90
1996q3	-2.04
1996q4	-2.45
1997q1	-2.36
1997q2	-2.32
1997q3	-2.58
1997q4	-2.01
1998q1	-2.08
1998q2	-1.81
1998q3	-1.30
1998q4	-1.14
1999q1	-0.79
1999q2	-0.42
1999q3	-0.28
1999q4	0.18
2000q1	0.78
2000q2	1.50
2000q3	1.18
2000q4	1.75
2001q1	1.63
2001q2	0.98
2001q3	1.78
2001q4	0.55
2002q1	-0.09
2002q2	-0.39
2002q3	-0.29
2002q4	-2.14
2003q1	-0.05
2003q2	-1.34
2003q3	-1.03
2003q4	-1.47
2004q1	-1.44
2004q2	-0.70
2004q3	-0.32
2004q4	0.58
2005q1	0.97
2005q2	0.78
2005q3	0.72
2005q4	0.76
2006q1	0.95
2006q2	1.47
2006q3	0.84
2006q4	0.81
2007q1	1.89
2007q2	2.08
2007q3	2.50
2007q4	2.30
2008q1	2.91
2008q2	2.13
2008q3	-0.88
2008q4	-1.08
2009q1	-3.29
2009q2	-2.66
2009q3	-0.32
2009q4	0.76
2010q1	0.60
2010q2	-1.54
2010q3	-1.67
2010q4	-3.90

Return to Figure 10

Exhibit 11a Data: Measures of Supervisory Stringency Controlling for Selection Bias

Date	Time-fixed effects	No time-fixed effects residual	With economy-wide variables residual
1991q3	15.40	8.56	3.98
1991q4	11.26	7.14	3.47
1992q1	12.69	6.07	2.94
1992q2	11.81	4.99	2.25
1992q3	10.38	3.30	0.76
1992q4	8.03	1.86	0.53
1993q1	7.64	0.74	-0.77
1993q2	6.51	2.32	1.77
1993q3	4.87	0.08	0.53
1993q4	4.60	1.70	3.05
1994q1	5.27	1.10	2.54
1994q2	4.82	2.05	2.49
1994q3	2.98	1.03	0.93
1994q4	2.84	2.20	1.71
1995q1	4.30	1.52	-0.04
1995q2	1.55	0.37	-0.85
1995q3	-1.15	-2.22	-3.24
1995q4	-3.86	-3.88	-4.74
1996q1	-2.07	-3.43	-3.52
1996q2	-2.30	-2.54	-2.73
1996q3	-4.19	-4.36	-4.62
1996q4	-6.82	-4.41	-4.43
1997q1	-4.07	-5.05	-4.18
1997q2	-5.12	-4.87	-4.82
1997q3	-7.05	-6.28	-5.51
1997q4	-7.36	-4.58	-3.27
1998q1	-4.72	-2.86	-1.40
1998q2	-5.22	-2.74	-0.55
1998q3	-3.09	-0.43	1.80
1998q4	-1.46	0.95	2.15
1999q1	-1.04	1.53	3.57
1999q2	-3.75	0.20	2.00
1999q3	-3.54	-0.11	1.60
1999q4	-6.05	-1.13	-0.84
2000q1	-2.65	1.22	1.21
2000q2	-1.08	3.18	2.57
2000q3	-3.94	2.47	1.11
2000q4	-3.89	3.20	1.54
2001q1	-4.05	1.73	0.28
2001q2	-4.78	1.35	0.07
2001q3	-4.34	0.75	-0.01
2001q4	-5.24	-0.03	-0.14
2002q1	-5.86	-2.86	-3.18
2002q2	-6.51	-3.21	-3.92
2002q3	-5.70	-3.17	-3.30
2002q4	-4.38	-1.62	-1.09
2003q1	-3.61	-2.50	-1.56
2003q2	-5.03	-2.42	-1.38
2003q3	-4.78	-2.55	0.17
2003q4	-7.04	-4.77	-2.50
2004q1	-5.23	-4.15	-0.25
2004q2	-5.93	-4.05	0.43
2004q3	-5.79	-3.51	0.84
2004q4	-3.96	-0.52	4.06
2005q1	-4.11	-1.20	3.16
2005q2	-3.74	-0.30	3.82
2005q3	-4.70	-1.40	2.92
2005q4	-7.05	-2.63	1.09
2006q1	-2.13	1.26	3.20
2006q2	-6.76	-2.07	0.26
2006q3	-5.05	-1.02	-0.41
2006q4	-5.09	-1.15	-1.25
2007q1	-2.46	-0.32	0.42
2007q2	-3.44	-0.62	-0.57
2007q3	-2.25	-0.63	0.11
2007q4	-2.73	-0.87	-1.55
2008q1	5.11	4.61	4.21
2008q2	5.39	4.05	3.34
2008q3	7.62	5.14	6.29
2008q4	9.60	6.73	5.15
2009q1	8.82	3.82	-2.35
2009q2	11.75	5.23	-2.34
2009q3	15.87	8.07	0.38
2009q4	11.98	2.94	-1.66
2010q1	12.45	3.83	0.84
2010q2	10.32	2.21	0.75
2010q3	6.29	-1.31	-1.29
2010q4	5.51	-0.72	-0.80
2011q1	6.93	-1.83	-1.93
2011q2	6.11	-0.82	-0.67

Return to Figure 11a

Exhibit 11b Data: Measures of Supervisory Stringency Controlling for Selection Bias

Date	Time-fixed effects	No time-fixed effects residual	With economy-wide variables residual
1991q3	13.10	9.56	5.78
1991q4	9.27	6.51	3.81
1992q1	10.19	6.92	4.48
1992q2	7.42	3.82	1.82
1992q3	5.89	3.45	1.46
1992q4	3.81	0.88	-0.19
1993q1	3.49	0.91	-0.32
1993q2	2.54	1.83	1.35
1993q3	0.37	-1.21	-1.53
1993q4	0.87	0.16	0.72
1994q1	1.76	1.61	2.29
1994q2	1.67	1.77	2.13
1994q3	1.10	1.12	1.26
1994q4	0.50	2.22	2.58
1995q1	1.26	1.67	1.31
1995q2	-0.49	0.44	0.20
1995q3	-3.72	-2.25	-3.37
1995q4	-6.48	-4.85	-5.71
1996q1	-4.48	-2.94	-3.32
1996q2	-4.04	-2.35	-2.58
1996q3	-5.92	-4.23	-4.21
1996q4	-7.44	-4.62	-4.01
1997q1	-4.79	-3.98	-2.65
1997q2	-6.90	-4.36	-3.55
1997q3	-6.80	-5.12	-3.63
1997q4	-7.44	-4.86	-3.03
1998q1	-5.66	-2.62	-0.93
1998q2	-4.81	-1.43	0.76
1998q3	-2.82	0.60	2.42
1998q4	-1.02	1.62	2.46
1999q1	-0.97	2.37	3.59
1999q2	-3.03	0.77	2.07
1999q3	-2.97	0.97	2.20
1999q4	-5.24	-1.23	-0.69
2000q1	-2.26	1.87	2.38
2000q2	-1.75	2.73	2.90
2000q3	-3.56	1.89	0.63
2000q4	-3.00	2.14	0.47
2001q1	-2.63	1.86	0.20
2001q2	-2.53	1.16	-0.18
2001q3	-2.46	0.76	0.11
2001q4	-2.95	-0.48	-0.67
2002q1	-3.86	-2.39	-2.66
2002q2	-4.52	-3.06	-3.43
2002q3	-4.28	-3.11	-3.51
2002q4	-2.51	-2.17	-2.58
2003q1	-2.29	-1.62	-1.73
2003q2	-2.72	-2.04	-1.79
2003q3	-1.92	-1.82	-0.32
2003q4	-5.22	-4.69	-2.79
2004q1	-4.18	-3.40	0.37
2004q2	-3.80	-3.60	0.57
2004q3	-4.81	-3.16	0.77
2004q4	-0.80	-0.04	3.99
2005q1	-2.10	0.09	3.87
2005q2	-2.75	-0.95	2.67
2005q3	-3.02	-1.66	1.56
2005q4	-4.81	-2.06	0.73
2006q1	-1.17	1.18	2.74
2006q2	-4.30	-2.17	-0.12
2006q3	-4.56	-2.02	-1.37
2006q4	-3.05	-2.13	-1.97
2007q1	-0.92	0.09	1.00
2007q2	-2.13	-0.48	0.09
2007q3	-2.18	-2.75	-1.52
2007q4	-0.79	-1.67	-1.37
2008q1	5.72	3.59	4.20
2008q2	5.49	1.94	1.87
2008q3	7.01	3.17	4.30
2008q4	12.79	6.69	5.17
2009q1	10.64	4.31	-3.06
2009q2	17.12	8.94	-0.53
2009q3	18.94	9.04	-0.18
2009q4	14.49	5.05	-0.39
2010q1	11.46	4.06	0.45
2010q2	13.88	4.75	3.05
2010q3	9.68	-0.18	-1.10
2010q4	6.24	0.13	-1.28
2011q1	8.48	-0.80	-1.74
2011q2	7.22	-1.08	-1.00

Return to Figure 11b

Exhibit 11c Data: Measures of Supervisory Stringency Controlling for Selection Bias

Date	Time-fixed effects	No time-fixed effects residual	With economy-wide variables residual
1991q3	15.51	10.21	5.56
1991q4	12.10	7.31	3.65
1992q1	13.02	7.78	4.65
1992q2	9.56	5.04	2.27
1992q3	9.09	4.31	1.56
1992q4	6.13	2.43	0.93
1993q1	5.55	1.82	0.16
1993q2	4.99	1.80	0.89
1993q3	1.41	-0.34	-0.63
1993q4	1.80	0.90	1.40
1994q1	2.53	1.40	2.13
1994q2	2.11	1.81	1.81
1994q3	1.29	1.41	1.21
1994q4	2.27	2.25	2.00
1995q1	1.46	1.84	0.89
1995q2	-0.03	0.69	-0.02
1995q3	-3.28	-2.23	-3.17
1995q4	-6.16	-4.75	-5.52
1996q1	-4.31	-3.48	-3.65
1996q2	-3.39	-2.35	-2.50
1996q3	-5.97	-4.46	-4.40
1996q4	-6.59	-4.82	-4.56
1997q1	-5.15	-3.72	-2.60
1997q2	-6.25	-5.00	-4.59
1997q3	-6.77	-4.91	-3.68
1997q4	-7.36	-4.75	-3.22
1998q1	-5.26	-3.46	-1.87
1998q2	-4.46	-1.91	0.29
1998q3	-2.69	0.18	2.34
1998q4	-1.14	2.30	3.55
1999q1	-0.67	1.97	3.76
1999q2	-2.41	0.59	2.11
1999q3	-2.46	0.80	2.49
1999q4	-5.01	-0.83	-0.05
2000q1	-1.75	1.53	2.15
2000q2	-1.45	2.66	2.83
2000q3	-3.12	1.29	0.85
2000q4	-2.58	2.39	1.46
2001q1	-2.66	1.52	0.74
2001q2	-2.41	1.71	1.03
2001q3	-2.57	1.34	1.05
2001q4	-3.10	0.76	0.78
2002q1	-4.32	-2.15	-2.44
2002q2	-4.71	-2.46	-3.05
2002q3	-4.51	-2.65	-2.75
2002q4	-3.16	-0.63	-0.40
2003q1	-2.61	-1.49	-0.97
2003q2	-2.80	-1.03	-0.56
2003q3	-2.39	-0.79	1.27
2003q4	-5.57	-3.25	-1.34
2004q1	-3.76	-2.93	0.85
2004q2	-4.79	-2.34	1.85
2004q3	-4.51	-2.39	1.68
2004q4	-1.15	2.19	6.32
2005q1	-1.68	0.35	4.25
2005q2	-2.86	0.01	3.94
2005q3	-3.62	-0.36	3.67
2005q4	-5.34	-1.31	2.10
2006q1	-1.45	1.78	3.89
2006q2	-4.64	-1.41	1.28
2006q3	-4.24	-1.49	-0.29
2006q4	-3.91	-0.68	-0.01
2007q1	-0.71	0.45	1.95
2007q2	-1.31	-0.53	0.40
2007q3	-2.22	-1.35	0.32
2007q4	-0.42	-0.31	0.07
2008q1	6.68	4.07	4.68
2008q2	6.44	3.56	3.44
2008q3	8.39	3.91	5.66
2008q4	13.90	8.47	7.12
2009q1	11.91	3.02	-4.92
2009q2	18.79	8.91	-1.13
2009q3	20.27	9.28	-0.81
2009q4	16.45	5.03	-1.00
2010q1	13.97	1.24	-2.35
2010q2	15.31	5.18	3.89
2010q3	10.24	1.26	1.45
2010q4	8.76	0.11	-0.40
2011q1	10.07	0.03	-0.12
2011q2	9.33	-0.61	-0.04

Return to Figure 11c

Exhibit 12a Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	2.026	1.636	2.417	1.700	2.353
1	0.967	0.472	1.462	0.553	1.381
2	0.808	0.327	1.289	0.406	1.211
3	0.507	0.080	0.934	0.150	0.864
4	0.267	-0.113	0.647	-0.051	0.585
5	0.128	-0.195	0.450	-0.142	0.398
6	0.039	-0.240	0.318	-0.195	0.273
7	-0.008	-0.250	0.234	-0.210	0.194
8	-0.029	-0.244	0.186	-0.208	0.151
9	-0.032	-0.230	0.166	-0.197	0.134
10	-0.024	-0.213	0.164	-0.182	0.133
11	-0.012	-0.193	0.169	-0.163	0.139
12	0.003	-0.172	0.177	-0.143	0.149
13	0.017	-0.152	0.186	-0.124	0.159
14	0.030	-0.134	0.194	-0.107	0.168
15	0.040	-0.121	0.201	-0.094	0.175
16	0.047	-0.111	0.206	-0.085	0.180
17	0.051	-0.105	0.207	-0.079	0.182
18	0.052	-0.101	0.205	-0.076	0.180
19	0.050	-0.099	0.198	-0.075	0.174
20	0.045	-0.097	0.187	-0.074	0.164

Return to Figure 12

Exhibit 12b Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.043	-0.058	0.145	-0.041	0.128
1	0.003	-0.155	0.162	-0.129	0.136
2	-0.118	-0.322	0.087	-0.289	0.053
3	-0.234	-0.494	0.027	-0.452	-0.016
4	-0.334	-0.654	-0.013	-0.601	-0.066
5	-0.403	-0.781	-0.026	-0.719	-0.087
6	-0.450	-0.878	-0.023	-0.808	-0.093
7	-0.476	-0.944	-0.008	-0.868	-0.084
8	-0.486	-0.986	0.014	-0.904	-0.068
9	-0.484	-1.006	0.039	-0.921	-0.047
10	-0.473	-1.010	0.064	-0.922	-0.024
11	-0.457	-1.002	0.087	-0.913	-0.002
12	-0.439	-0.986	0.108	-0.896	0.019
13	-0.419	-0.964	0.126	-0.875	0.037
14	-0.400	-0.940	0.140	-0.852	0.052
15	-0.382	-0.916	0.151	-0.829	0.064
16	-0.367	-0.893	0.159	-0.807	0.073
17	-0.355	-0.873	0.163	-0.788	0.079
18	-0.345	-0.856	0.165	-0.772	0.082
19	-0.339	-0.843	0.164	-0.760	0.082
20	-0.336	-0.834	0.161	-0.753	0.080

* Note. Cumulative Impulse Response

Return to Figure 12

Exhibit 12c Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.006	-0.029	0.041	-0.023	0.035
1	0.033	-0.020	0.086	-0.012	0.077
2	0.055	-0.014	0.123	-0.003	0.112
3	0.058	-0.026	0.142	-0.012	0.128
4	0.056	-0.041	0.152	-0.025	0.137
5	0.048	-0.059	0.155	-0.042	0.137
6	0.037	-0.079	0.153	-0.060	0.134
7	0.026	-0.099	0.150	-0.079	0.130
8	0.016	-0.117	0.149	-0.095	0.127
9	0.009	-0.133	0.150	-0.110	0.127
10	0.004	-0.145	0.154	-0.121	0.130
11	0.004	-0.154	0.161	-0.129	0.136
12	0.006	-0.160	0.172	-0.133	0.145
13	0.010	-0.164	0.185	-0.135	0.156
14	0.017	-0.165	0.200	-0.135	0.170
15	0.026	-0.164	0.216	-0.133	0.185
16	0.036	-0.163	0.234	-0.130	0.201
17	0.045	-0.160	0.251	-0.127	0.218
18	0.055	-0.158	0.268	-0.123	0.234
19	0.064	-0.156	0.284	-0.120	0.248
20	0.072	-0.154	0.298	-0.117	0.261

* Note. Cumulative Impulse Response

Return to Figure 12

Exhibit 12d Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	-0.140	-0.360	0.080	-0.324	0.044
1	-0.311	-0.658	0.035	-0.601	-0.022
2	-0.461	-0.935	0.012	-0.858	-0.065
3	-0.579	-1.173	0.016	-1.076	-0.081
4	-0.713	-1.424	-0.002	-1.308	-0.118
5	-0.840	-1.657	-0.023	-1.523	-0.156
6	-0.961	-1.878	-0.044	-1.728	-0.194
7	-1.069	-2.077	-0.060	-1.913	-0.225
8	-1.160	-2.254	-0.067	-2.075	-0.245
9	-1.232	-2.400	-0.064	-2.209	-0.254
10	-1.282	-2.512	-0.051	-2.311	-0.252
11	-1.309	-2.587	-0.030	-2.379	-0.239
12	-1.314	-2.625	-0.004	-2.411	-0.218
13	-1.300	-2.627	0.027	-2.410	-0.190
14	-1.268	-2.596	0.060	-2.380	-0.157
15	-1.223	-2.539	0.094	-2.324	-0.121
16	-1.167	-2.461	0.128	-2.250	-0.084
17	-1.104	-2.369	0.160	-2.162	-0.046
18	-1.039	-2.270	0.191	-2.069	-0.010
19	-0.975	-2.169	0.219	-1.974	0.024
20	-0.915	-2.072	0.242	-1.884	0.053

* Note. Cumulative Impulse Response

Return to Figure 12

Exhibit 12e Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	1.782	-0.177	3.740	0.143	3.421
1	4.492	0.146	8.837	0.856	8.128
2	6.751	-0.235	13.737	0.906	12.596
3	8.870	-1.005	18.745	0.607	17.133
4	10.771	-2.063	23.604	0.032	21.509
5	12.260	-3.382	27.901	-0.828	25.347
6	13.280	-4.890	31.450	-1.923	28.484
7	13.815	-6.530	34.160	-3.208	30.839
8	13.866	-8.267	35.998	-4.653	32.385
9	13.471	-10.058	36.999	-6.216	33.158
10	12.689	-11.874	37.251	-7.864	33.241
11	11.595	-13.681	36.870	-9.555	32.744
12	10.273	-15.447	35.993	-11.248	31.793
13	8.811	-17.136	34.757	-12.900	30.521
14	7.295	-18.708	33.297	-14.462	29.052
15	5.806	-20.119	31.730	-15.886	27.498
16	4.415	-21.324	30.155	-17.122	25.952
17	3.183	-22.277	28.644	-18.121	24.487
18	2.156	-22.938	27.249	-18.841	23.152
19	1.365	-23.273	26.003	-19.250	21.981
20	0.829	-23.264	24.922	-19.331	20.988

Return to Figure 12

Exhibit 12f Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	-0.093	-0.178	-0.009	-0.164	-0.022
1	-0.152	-0.295	-0.009	-0.272	-0.032
2	-0.158	-0.343	0.028	-0.313	-0.003
3	-0.163	-0.386	0.060	-0.350	0.024
4	-0.159	-0.412	0.095	-0.371	0.053
5	-0.151	-0.425	0.123	-0.380	0.078
6	-0.143	-0.428	0.143	-0.381	0.096
7	-0.135	-0.423	0.154	-0.376	0.107
8	-0.126	-0.412	0.160	-0.365	0.114
9	-0.116	-0.394	0.163	-0.349	0.118
10	-0.103	-0.371	0.164	-0.327	0.120
11	-0.089	-0.342	0.164	-0.301	0.123
12	-0.072	-0.309	0.165	-0.270	0.126
13	-0.054	-0.274	0.166	-0.238	0.130
14	-0.035	-0.238	0.168	-0.205	0.135
15	-0.016	-0.203	0.171	-0.172	0.141
16	0.003	-0.171	0.176	-0.142	0.148
17	0.020	-0.144	0.183	-0.117	0.156
18	0.035	-0.122	0.191	-0.097	0.166
19	0.047	-0.107	0.200	-0.082	0.175
20	0.056	-0.097	0.208	-0.072	0.183

Return to Figure 12

Exhibit 13a Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	2.034	1.646	2.421	1.709	2.358
1	1.012	0.519	1.504	0.600	1.424
2	0.850	0.362	1.339	0.441	1.259
3	0.576	0.145	1.007	0.215	0.937
4	0.328	-0.050	0.705	0.012	0.643
5	0.175	-0.137	0.487	-0.086	0.436
6	0.065	-0.204	0.334	-0.161	0.290
7	0.005	-0.233	0.244	-0.194	0.205
8	-0.024	-0.242	0.194	-0.206	0.158
9	-0.030	-0.234	0.173	-0.200	0.139
10	-0.024	-0.214	0.167	-0.183	0.136
11	-0.010	-0.190	0.171	-0.161	0.142
12	0.007	-0.167	0.181	-0.139	0.153
13	0.024	-0.146	0.194	-0.119	0.166
14	0.038	-0.130	0.206	-0.102	0.178
15	0.049	-0.116	0.215	-0.089	0.188
16	0.057	-0.105	0.219	-0.078	0.192
17	0.061	-0.096	0.217	-0.070	0.192
18	0.061	-0.089	0.211	-0.064	0.186
19	0.058	-0.084	0.200	-0.061	0.177
20	0.052	-0.081	0.186	-0.059	0.164

Return to Figure 13

Exhibit 13b Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.041	-0.065	0.146	-0.047	0.129
1	-0.001	-0.158	0.157	-0.132	0.131
2	-0.133	-0.336	0.070	-0.303	0.037
3	-0.260	-0.519	-0.001	-0.477	-0.044
4	-0.376	-0.699	-0.052	-0.646	-0.105
5	-0.463	-0.853	-0.072	-0.789	-0.136
6	-0.524	-0.974	-0.074	-0.901	-0.147
7	-0.562	-1.063	-0.062	-0.981	-0.143
8	-0.582	-1.121	-0.042	-1.033	-0.130
9	-0.586	-1.154	-0.019	-1.061	-0.112
10	-0.581	-1.167	0.005	-1.071	-0.091
11	-0.569	-1.165	0.028	-1.068	-0.070
12	-0.552	-1.153	0.049	-1.055	-0.049
13	-0.533	-1.135	0.069	-1.037	-0.029
14	-0.514	-1.114	0.087	-1.016	-0.011
15	-0.495	-1.092	0.102	-0.994	0.004
16	-0.478	-1.070	0.114	-0.973	0.018
17	-0.463	-1.049	0.124	-0.953	0.028
18	-0.450	-1.031	0.131	-0.936	0.037
19	-0.440	-1.017	0.136	-0.923	0.042
20	-0.433	-1.005	0.139	-0.912	0.046

* Note. Cumulative Impulse Response

Return to Figure 13

Exhibit 13c Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.008	-0.026	0.042	-0.020	0.037
1	0.038	-0.015	0.091	-0.006	0.082
2	0.063	-0.007	0.133	0.004	0.121
3	0.068	-0.019	0.156	-0.005	0.141
4	0.067	-0.035	0.169	-0.018	0.152
5	0.058	-0.055	0.170	-0.036	0.152
6	0.044	-0.076	0.165	-0.056	0.145
7	0.030	-0.097	0.157	-0.077	0.136
8	0.017	-0.118	0.151	-0.096	0.129
9	0.006	-0.136	0.147	-0.112	0.124
10	-0.001	-0.150	0.148	-0.126	0.123
11	-0.005	-0.161	0.152	-0.136	0.126
12	-0.004	-0.169	0.160	-0.142	0.133
13	-0.001	-0.172	0.171	-0.144	0.143
14	0.006	-0.173	0.185	-0.144	0.155
15	0.015	-0.171	0.200	-0.141	0.170
16	0.025	-0.168	0.218	-0.136	0.186
17	0.036	-0.163	0.236	-0.131	0.203
18	0.047	-0.159	0.254	-0.125	0.220
19	0.058	-0.154	0.271	-0.119	0.236
20	0.069	-0.149	0.286	-0.114	0.251

* Note. Cumulative Impulse Response

Return to Figure 13

Exhibit 13d Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	-0.006	-0.232	0.220	-0.195	0.183
1	-0.301	-0.669	0.067	-0.609	0.006
2	-0.630	-1.180	-0.080	-1.090	-0.170
3	-0.973	-1.726	-0.220	-1.603	-0.343
4	-1.302	-2.279	-0.325	-2.120	-0.484
5	-1.611	-2.823	-0.400	-2.625	-0.597
6	-1.884	-3.330	-0.438	-3.094	-0.674
7	-2.123	-3.795	-0.450	-3.522	-0.723
8	-2.323	-4.205	-0.441	-3.897	-0.748
9	-2.484	-4.552	-0.416	-4.215	-0.754
10	-2.607	-4.833	-0.380	-4.469	-0.744
11	-2.692	-5.046	-0.338	-4.661	-0.722
12	-2.741	-5.192	-0.290	-4.792	-0.690
13	-2.757	-5.275	-0.239	-4.864	-0.650
14	-2.744	-5.301	-0.187	-4.884	-0.604
15	-2.706	-5.278	-0.134	-4.858	-0.554
16	-2.648	-5.212	-0.083	-4.793	-0.502
17	-2.574	-5.112	-0.035	-4.698	-0.450
18	-2.489	-4.988	0.009	-4.580	-0.399
19	-2.400	-4.848	0.048	-4.448	-0.351
20	-2.309	-4.700	0.081	-4.310	-0.309

* Note. Cumulative Impulse Response

Return to Figure 13

Exhibit 13e Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	1.869	-0.073	3.812	0.244	3.494
1	4.860	0.454	9.265	1.174	8.546
2	7.590	0.476	14.704	1.638	13.543
3	10.362	0.263	20.461	1.912	18.812
4	13.010	-0.204	26.224	1.954	24.067
5	15.278	-1.000	31.555	1.657	28.898
6	17.067	-2.026	36.159	1.092	33.041
7	18.307	-3.229	39.842	0.287	36.326
8	18.973	-4.578	42.523	-0.733	38.678
9	19.080	-6.045	44.205	-1.943	40.103
10	18.677	-7.610	44.964	-3.318	40.672
11	17.833	-9.258	44.923	-4.835	40.500
12	16.633	-10.964	44.230	-6.459	39.724
13	15.170	-12.697	43.037	-8.147	38.488
14	13.542	-14.411	41.495	-9.847	36.931
15	11.840	-16.055	39.736	-11.501	35.182
16	10.152	-17.573	37.877	-13.047	33.351
17	8.553	-18.908	36.015	-14.425	31.531
18	7.108	-20.010	34.226	-15.583	29.799
19	5.866	-20.838	32.571	-16.478	28.211
20	4.864	-21.365	31.092	-17.083	26.810

Return to Figure 13

Exhibit 13f Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	-0.086	-0.169	-0.003	-0.156	-0.016
1	-0.138	-0.279	0.003	-0.256	-0.020
2	-0.135	-0.320	0.051	-0.290	0.021
3	-0.139	-0.363	0.085	-0.326	0.049
4	-0.140	-0.397	0.117	-0.355	0.075
5	-0.143	-0.424	0.138	-0.378	0.092
6	-0.145	-0.440	0.149	-0.392	0.101
7	-0.148	-0.448	0.153	-0.399	0.104
8	-0.148	-0.447	0.151	-0.398	0.102
9	-0.145	-0.437	0.147	-0.389	0.099
10	-0.138	-0.419	0.142	-0.373	0.096
11	-0.127	-0.393	0.139	-0.350	0.095
12	-0.113	-0.362	0.137	-0.322	0.096
13	-0.094	-0.327	0.138	-0.289	0.100
14	-0.074	-0.290	0.142	-0.254	0.106
15	-0.052	-0.252	0.147	-0.219	0.115
16	-0.030	-0.215	0.155	-0.185	0.125
17	-0.008	-0.181	0.165	-0.153	0.137
18	0.012	-0.152	0.176	-0.125	0.149
19	0.030	-0.128	0.188	-0.102	0.162
20	0.045	-0.109	0.198	-0.084	0.173

Return to Figure 13

Exhibit 14a Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.850	0.685	1.016	0.712	0.989
1	0.770	0.535	1.006	0.573	0.967
2	0.629	0.373	0.884	0.415	0.842
3	0.473	0.215	0.730	0.257	0.688
4	0.369	0.122	0.617	0.162	0.577
5	0.296	0.060	0.531	0.098	0.493
6	0.238	0.015	0.460	0.052	0.424
7	0.190	-0.020	0.399	0.014	0.365
8	0.149	-0.049	0.347	-0.017	0.315
9	0.114	-0.074	0.302	-0.043	0.271
10	0.084	-0.095	0.262	-0.066	0.233
11	0.058	-0.112	0.227	-0.084	0.200
12	0.036	-0.125	0.197	-0.098	0.171
13	0.020	-0.133	0.172	-0.108	0.147
14	0.008	-0.136	0.151	-0.113	0.128
15	0.000	-0.135	0.136	-0.113	0.114
16	-0.003	-0.131	0.126	-0.110	0.105
17	-0.002	-0.124	0.120	-0.104	0.100
18	0.002	-0.115	0.119	-0.096	0.100
19	0.008	-0.105	0.121	-0.087	0.103
20	0.015	-0.095	0.126	-0.077	0.108

Return to Figure 14

Exhibit 14b Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.112	0.006	0.218	0.023	0.201
1	0.202	0.034	0.371	0.062	0.343
2	0.139	-0.086	0.364	-0.050	0.327
3	0.050	-0.226	0.325	-0.181	0.280
4	-0.050	-0.376	0.276	-0.322	0.223
5	-0.147	-0.524	0.229	-0.462	0.168
6	-0.244	-0.672	0.184	-0.602	0.114
7	-0.333	-0.809	0.144	-0.731	0.066
8	-0.413	-0.934	0.109	-0.849	0.024
9	-0.481	-1.043	0.081	-0.951	-0.011
10	-0.537	-1.132	0.059	-1.035	-0.038
11	-0.580	-1.202	0.042	-1.101	-0.059
12	-0.611	-1.253	0.031	-1.149	-0.074
13	-0.631	-1.286	0.025	-1.179	-0.082
14	-0.640	-1.304	0.023	-1.195	-0.085
15	-0.641	-1.308	0.026	-1.199	-0.083
16	-0.634	-1.302	0.033	-1.193	-0.076
17	-0.622	-1.288	0.043	-1.179	-0.066
18	-0.607	-1.269	0.055	-1.161	-0.053
19	-0.590	-1.248	0.069	-1.141	-0.039
20	-0.573	-1.228	0.083	-1.121	-0.024

* Note. Cumulative Impulse Response

Return to Figure 14

Exhibit 14c Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.016	-0.032	0.064	-0.025	0.056
1	0.056	-0.008	0.120	0.003	0.110
2	0.089	0.015	0.163	0.027	0.151
3	0.118	0.033	0.203	0.046	0.189
4	0.141	0.046	0.236	0.061	0.221
5	0.156	0.051	0.261	0.068	0.244
6	0.166	0.050	0.281	0.069	0.262
7	0.170	0.044	0.295	0.065	0.275
8	0.170	0.035	0.305	0.057	0.283
9	0.168	0.023	0.312	0.047	0.289
10	0.164	0.011	0.318	0.036	0.293
11	0.161	-0.001	0.323	0.025	0.296
12	0.158	-0.011	0.328	0.016	0.300
13	0.158	-0.019	0.334	0.010	0.306
14	0.159	-0.025	0.342	0.005	0.312
15	0.163	-0.027	0.352	0.004	0.321
16	0.169	-0.026	0.364	0.006	0.332
17	0.177	-0.023	0.378	0.010	0.345
18	0.188	-0.017	0.394	0.016	0.360
19	0.200	-0.010	0.411	0.024	0.376
20	0.214	-0.001	0.429	0.034	0.394

* Note. Cumulative Impulse Response

Return to Figure 14

Exhibit 14d Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	-0.088	-0.318	0.142	-0.280	0.104
1	0.012	-0.318	0.343	-0.264	0.289
2	0.089	-0.339	0.516	-0.269	0.446
3	0.182	-0.342	0.706	-0.256	0.621
4	0.198	-0.416	0.812	-0.316	0.711
5	0.183	-0.528	0.894	-0.412	0.778
6	0.123	-0.684	0.931	-0.552	0.799
7	0.038	-0.867	0.943	-0.719	0.795
8	-0.069	-1.070	0.932	-0.907	0.768
9	-0.186	-1.280	0.907	-1.101	0.729
10	-0.306	-1.485	0.873	-1.292	0.681
11	-0.418	-1.673	0.836	-1.468	0.631
12	-0.518	-1.835	0.798	-1.620	0.583
13	-0.599	-1.963	0.764	-1.740	0.541
14	-0.658	-2.052	0.735	-1.824	0.508
15	-0.693	-2.100	0.714	-1.870	0.484
16	-0.703	-2.109	0.703	-1.879	0.473
17	-0.689	-2.080	0.702	-1.853	0.475
18	-0.653	-2.019	0.713	-1.796	0.490
19	-0.598	-1.932	0.736	-1.715	0.519
20	-0.529	-1.827	0.770	-1.615	0.558

* Note. Cumulative Impulse Response

Return to Figure 14

Exhibit 14e Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.054	-1.894	2.001	-1.576	1.683
1	0.382	-4.017	4.780	-3.299	4.062
2	1.067	-6.143	8.276	-4.966	7.099
3	2.723	-7.398	12.844	-5.746	11.192
4	4.953	-8.117	18.024	-5.983	15.890
5	7.573	-8.415	23.560	-5.804	20.950
6	10.322	-8.480	29.124	-5.410	26.055
7	13.015	-8.403	34.433	-4.906	30.937
8	15.472	-8.280	39.225	-4.402	35.347
9	17.562	-8.179	43.302	-3.977	39.100
10	19.179	-8.164	46.522	-3.700	42.058
11	20.263	-8.286	48.812	-3.625	44.151
12	20.785	-8.585	50.155	-3.790	45.360
13	20.752	-9.086	50.591	-4.215	45.719
14	20.200	-9.800	50.200	-4.902	45.302
15	19.190	-10.719	49.099	-5.836	44.216
16	17.804	-11.818	47.426	-6.982	42.590
17	16.137	-13.054	45.328	-8.288	40.562
18	14.293	-14.371	42.957	-9.691	38.277
19	12.376	-15.703	40.455	-11.119	35.870
20	10.487	-16.979	37.953	-12.495	33.469

Return to Figure 14

Exhibit 14f Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	-0.023	-0.117	0.070	-0.102	0.055
1	-0.010	-0.163	0.142	-0.138	0.117
2	-0.032	-0.224	0.160	-0.193	0.129
3	-0.076	-0.296	0.144	-0.260	0.108
4	-0.118	-0.359	0.124	-0.320	0.084
5	-0.153	-0.409	0.104	-0.367	0.062
6	-0.184	-0.452	0.084	-0.408	0.041
7	-0.211	-0.489	0.067	-0.444	0.022
8	-0.233	-0.519	0.052	-0.472	0.005
9	-0.251	-0.540	0.039	-0.493	-0.008
10	-0.261	-0.551	0.028	-0.504	-0.019
11	-0.265	-0.550	0.020	-0.504	-0.027
12	-0.262	-0.539	0.014	-0.494	-0.031
13	-0.252	-0.517	0.013	-0.473	-0.030
14	-0.235	-0.486	0.017	-0.445	-0.024
15	-0.211	-0.448	0.025	-0.409	-0.013
16	-0.183	-0.406	0.039	-0.370	0.003
17	-0.152	-0.362	0.059	-0.328	0.024
18	-0.118	-0.319	0.083	-0.286	0.050
19	-0.084	-0.278	0.110	-0.246	0.078
20	-0.051	-0.239	0.138	-0.209	0.107

Return to Figure 14

Exhibit 15a Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.862	0.691	1.033	0.719	1.005
1	0.815	0.569	1.061	0.609	1.020
2	0.665	0.408	0.921	0.450	0.879
3	0.499	0.242	0.755	0.284	0.713
4	0.364	0.117	0.611	0.158	0.571
5	0.263	0.028	0.498	0.066	0.459
6	0.183	-0.036	0.402	-0.000	0.366
7	0.122	-0.081	0.324	-0.048	0.291
8	0.075	-0.113	0.262	-0.082	0.231
9	0.039	-0.135	0.212	-0.106	0.184
10	0.012	-0.150	0.175	-0.124	0.148
11	-0.006	-0.160	0.148	-0.135	0.123
12	-0.018	-0.165	0.130	-0.141	0.106
13	-0.023	-0.165	0.118	-0.142	0.095
14	-0.024	-0.161	0.113	-0.139	0.090
15	-0.021	-0.153	0.112	-0.131	0.090
16	-0.014	-0.143	0.114	-0.122	0.093
17	-0.005	-0.130	0.119	-0.110	0.099
18	0.005	-0.117	0.126	-0.097	0.106
19	0.015	-0.103	0.133	-0.084	0.114
20	0.025	-0.089	0.140	-0.071	0.121

Return to Figure 15

Exhibit 15b Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.102	-0.006	0.210	0.012	0.193
1	0.182	0.013	0.352	0.040	0.324
2	0.103	-0.125	0.332	-0.088	0.295
3	-0.014	-0.303	0.275	-0.256	0.228
4	-0.139	-0.487	0.210	-0.430	0.153
5	-0.260	-0.669	0.148	-0.602	0.082
6	-0.372	-0.839	0.094	-0.763	0.018
7	-0.470	-0.991	0.051	-0.906	-0.034
8	-0.552	-1.124	0.021	-1.031	-0.073
9	-0.617	-1.235	0.002	-1.134	-0.099
10	-0.665	-1.324	-0.006	-1.216	-0.113
11	-0.697	-1.390	-0.004	-1.277	-0.117
12	-0.714	-1.434	0.007	-1.317	-0.111
13	-0.718	-1.459	0.023	-1.338	-0.098
14	-0.711	-1.466	0.045	-1.343	-0.078
15	-0.694	-1.459	0.070	-1.334	-0.055
16	-0.671	-1.440	0.097	-1.314	-0.028
17	-0.644	-1.413	0.124	-1.288	-0.001
18	-0.615	-1.381	0.151	-1.256	0.026
19	-0.586	-1.347	0.175	-1.222	0.051
20	-0.558	-1.313	0.196	-1.189	0.073

* Note. Cumulative Impulse Response

Return to Figure 15

Exhibit 15c Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.021	-0.025	0.067	-0.017	0.060
1	0.067	-0.002	0.136	0.009	0.125
2	0.105	0.021	0.188	0.035	0.175
3	0.134	0.036	0.231	0.052	0.215
4	0.153	0.045	0.261	0.062	0.243
5	0.161	0.043	0.280	0.062	0.261
6	0.163	0.035	0.291	0.056	0.270
7	0.159	0.021	0.296	0.044	0.274
8	0.152	0.005	0.298	0.029	0.274
9	0.143	-0.011	0.298	0.014	0.273
10	0.136	-0.026	0.298	0.000	0.271
11	0.130	-0.039	0.299	-0.011	0.271
12	0.127	-0.049	0.303	-0.020	0.274
13	0.127	-0.056	0.309	-0.026	0.280
14	0.130	-0.059	0.320	-0.028	0.289
15	0.137	-0.059	0.333	-0.027	0.301
16	0.147	-0.055	0.349	-0.022	0.316
17	0.160	-0.049	0.368	-0.015	0.334
18	0.175	-0.040	0.389	-0.005	0.354
19	0.191	-0.030	0.411	0.006	0.375
20	0.207	-0.018	0.433	0.019	0.396

* Note. Cumulative Impulse Response

Return to Figure 15

Exhibit 15d Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.159	-0.131	0.448	-0.084	0.401
1	0.251	-0.223	0.725	-0.145	0.648
2	0.327	-0.338	0.993	-0.229	0.884
3	0.322	-0.535	1.179	-0.395	1.039
4	0.253	-0.800	1.306	-0.628	1.134
5	0.120	-1.130	1.370	-0.926	1.166
6	-0.065	-1.513	1.384	-1.277	1.148
7	-0.288	-1.935	1.358	-1.666	1.089
8	-0.534	-2.376	1.307	-2.075	1.007
9	-0.787	-2.819	1.245	-2.488	0.913
10	-1.032	-3.247	1.182	-2.885	0.820
11	-1.257	-3.641	1.127	-3.252	0.738
12	-1.451	-3.989	1.088	-3.575	0.673
13	-1.606	-4.280	1.067	-3.843	0.631
14	-1.719	-4.505	1.068	-4.050	0.613
15	-1.786	-4.663	1.091	-4.193	0.621
16	-1.808	-4.751	1.135	-4.271	0.655
17	-1.788	-4.775	1.198	-4.287	0.711
18	-1.730	-4.737	1.277	-4.246	0.786
19	-1.641	-4.648	1.366	-4.157	0.875
20	-1.526	-4.514	1.462	-4.027	0.974

* Note. Cumulative Impulse Response

Return to Figure 15

Exhibit 15e Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	0.322	-1.644	2.288	-1.323	1.967
1	1.349	-3.055	5.753	-2.336	5.034
2	2.944	-4.367	10.254	-3.173	9.060
3	5.569	-4.806	15.944	-3.112	14.251
4	8.774	-4.778	22.327	-2.566	20.114
5	12.219	-4.531	28.969	-1.796	26.234
6	15.635	-4.233	35.503	-0.989	32.259
7	18.767	-4.043	41.578	-0.319	37.853
8	21.417	-4.078	46.913	0.084	42.750
9	23.445	-4.414	51.304	0.135	46.756
10	24.764	-5.087	54.616	-0.214	49.742
11	25.338	-6.106	56.781	-0.972	51.648
12	25.177	-7.451	57.804	-2.124	52.477
13	24.331	-9.082	57.744	-3.626	52.289
14	22.885	-10.940	56.711	-5.418	51.188
15	20.947	-12.953	54.848	-7.418	49.313
16	18.643	-15.038	52.324	-9.539	46.825
17	16.106	-17.106	49.318	-11.684	43.896
18	13.472	-19.073	46.017	-13.759	40.703
19	10.871	-20.859	42.601	-15.679	37.420
20	8.420	-22.401	39.241	-17.369	34.209

Return to Figure 15

Exhibit 15f Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Quarters after Shock	Predicted Response	95th Percentile Lower Bound	95th Percentile Upper Bound	90th Percentile Lower Bound	90th Percentile Upper Bound
0	-0.016	-0.108	0.075	-0.093	0.060
1	-0.006	-0.155	0.142	-0.131	0.118
2	-0.029	-0.215	0.156	-0.185	0.126
3	-0.085	-0.298	0.127	-0.263	0.092
4	-0.142	-0.376	0.092	-0.338	0.054
5	-0.193	-0.445	0.059	-0.404	0.018
6	-0.237	-0.505	0.031	-0.462	-0.013
7	-0.273	-0.555	0.010	-0.509	-0.036
8	-0.299	-0.593	-0.004	-0.545	-0.052
9	-0.314	-0.618	-0.011	-0.569	-0.060
10	-0.320	-0.628	-0.011	-0.578	-0.062
11	-0.315	-0.624	-0.006	-0.573	-0.056
12	-0.300	-0.605	0.005	-0.555	-0.045
13	-0.276	-0.573	0.022	-0.524	-0.027
14	-0.244	-0.531	0.043	-0.484	-0.004
15	-0.206	-0.480	0.068	-0.436	0.023
16	-0.164	-0.425	0.097	-0.382	0.054
17	-0.120	-0.367	0.127	-0.326	0.086
18	-0.076	-0.309	0.157	-0.271	0.119
19	-0.033	-0.253	0.187	-0.217	0.151
20	0.006	-0.203	0.215	-0.169	0.181

Return to Figure 15

Number of Exams	Number of Banks
5	690
6	661
7	542
8	483
9	391
10	357
11	322
12	348
13	471
14	647
15	682
16	656
17	512
18	398
19	257
20	200
21	166
22	142
23	144
24	168
25	152
26	134
27	112
28	83
29	60
30	48
31	30
32	13
33	10
34	7
35	1
36	4
37	2
38	1

Number of Exams	Number of Banks
5	690
6	661
7	542
8	483
9	391
10	357
11	322
12	348
13	471
14	647
15	682
16	656
17	512
18	398
19	257
20	200
21	166
22	142
23	144
24	168
25	152
26	134
27	112
28	83
29	60
30	48
31	30
32	13
33	10
34	7
35	1
36	4
37	2
38	1

Estimating Changes in Supervisory Standards and Their Economic Effects

Exhibit 1 Data: Contributions to growth in total loans at domestic banks by CAMELS ratings (four-quarter percent change)

Exhibit 2 Data: Distribution of bank exams

Exhibit 3a Data: Average and Distribution of CAMELS Ratings

Exhibit 3b Data: Average and Distribution of CAMELS Ratings

Exhibit 3c Data: Average and Distribution of CAMELS Ratings

Exhibit 4a Data: Representativeness of Sample

Exhibit 4b Data: Representativeness of Sample

Exhibit 5a Data: Measures of Supervisory Stringency

Exhibit 5b Data: Measures of Supervisory Stringency

Exhibit 5c Data: Measures of Supervisory Stringency

Exhibit 6a Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Exhibit 6b Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Exhibit 6c Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Exhibit 6d Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Exhibit 6e Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Exhibit 6f Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Exhibit 6g Data: Effect of Capital Adequacy Asset Quality and Asset Composition

Exhibit 7a Data: Effect of Profitability and Liability composition

Exhibit 7b Data: Effect of Profitability and Liability composition

Exhibit 7c Data: Effect of Profitability and Liability composition

Exhibit 7d Data: Effect of Profitability and Liability composition

Exhibit 7e Data: Effect of Profitability and Liability composition

Exhibit 7f Data: Effect of Profitability and Liability composition

Exhibit 8a Data: Selected Regulatory and Local Economic Effects

Exhibit 8b Data: Selected Regulatory and Local Economic Effects

Exhibit 8c Data: Selected Regulatory and Local Economic Effects

Exhibit 8d Data: Selected Regulatory and Local Economic Effects

Exhibit 9a Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Exhibit 9b Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Exhibit 9c Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Exhibit 10 Data: Supervisory Stringency Based on Repeated Cross-Section Regressions

Exhibit 11a Data: Measures of Supervisory Stringency Controlling for Selection Bias

Exhibit 11b Data: Measures of Supervisory Stringency Controlling for Selection Bias

Exhibit 11c Data: Measures of Supervisory Stringency Controlling for Selection Bias

Exhibit 12a Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Exhibit 12b Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Exhibit 12c Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Exhibit 12d Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Exhibit 12e Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Exhibit 12f Data: Implications of Supervisory Stringency on Loans - Ordered Probit Model

Exhibit 13a Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Exhibit 13b Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Exhibit 13c Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Exhibit 13d Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Exhibit 13e Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Exhibit 13f Data: Implications of Supervisory Stringency on Lending Capacity - Ordered Probit Model

Exhibit 14a Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Exhibit 14b Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Exhibit 14c Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Exhibit 14d Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Exhibit 14e Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Exhibit 14f Data: Implications of Supervisory Stringency on Loans - Repeated Cross-Section Model

Exhibit 15a Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Exhibit 15b Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Exhibit 15c Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Exhibit 15d Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Exhibit 15e Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Exhibit 15f Data: Implications of Supervisory Stringency on Lending Capacity - Repeated Cross-Section Model

Number of Exams	Number of Banks
5	690
6	661
7	542
8	483
9	391
10	357
11	322
12	348
13	471
14	647
15	682
16	656
17	512
18	398
19	257
20	200
21	166
22	142
23	144
24	168
25	152
26	134
27	112
28	83
29	60
30	48
31	30
32	13
33	10
34	7
35	1
36	4
37	2
38	1