Constraints on provisioning at public versus private community banks
比较了上市与非上市社区银行对2016年CECL准则的反应，发现非上市银行在准则发布后提前调整了拨备与盈利的关系，而上市银行因监管和市场约束未能提前调整。
Abstract We compare the responses of publicly held versus privately held community banks to the June 2016 issuance of the current expected credit loss (CECL) standard, which altered the way US banks provision for loan losses. We find that following issuance but before implementation, the relation between earnings and provisions strengthened among privately held banks but not among publicly held banks. This is consistent with US Securities and Exchange Commission regulation and market monitoring placing greater constraints on publicly held banks relative to privately held banks, preventing publicly held banks from moving toward the CECL standard early.