Article: The evolution of derivative use by community banks from 1995-2003.

ABSTRACT

We analyze the use of interest rate derivatives by community banks from 1995 to 2003. We can be reasonably sure that community banks' use of derivative securities is purely as end users of the products. It is commonly known that derivative use is related to the size of the firm. Several studies have isolated community banks and studied their use of derivatives in the early 1990s, but we hypothesize that those studies are in fact mostly driven by the largest quartile of banks. We also hypothesize that derivatives as a whole are much more widely used in the late 1990's and early 2000's than they were a decade ago. This study will be a survey of what bank ...

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