Do supervisory rating standards change over time
研究了1987-2004年间美国银行控股公司的BOPEC监管评级标准是否随时间变化，发现标准在衰退期更严格、复苏期更宽松，部分年份评级差异可达25%。
Supervisory BOPEC ratings were assigned to bank holding companies (BHCs) during the years 1987 to 2004 as a summary of their overall performance and level of supervisory concern. In this paper, we examine the stability of the BOPEC ratings assigned over that period. We model supervisory ratings using balance sheet variables, and our analysis suggests that BOPEC rating standards varied over time. Supervisors seem to have applied more stringent rating standards from 1989 to 1992, a period marked by a recession and a large degree of distress in the banking sector. Rating standards then eased during the economic recovery from 1993 to 1998, before showing increasing signs of toughness again from 1999 through 2004. Based on our estimated model parameters, we find that, in some cases, up to 25 percent of the BHCs that were assigned a BOPEC rating in a “tough ” year would have been given a better rating in an “easy ” year. The reasons for the observed variation in supervisory standards could be changes in supervisory behavior, but they are also surely related to the substantial changes that occurred within the U.S. banking system over this 17-year period. *The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Federal Reserve Bank of San Francisco or the Board of Governors