FinanceandEconomicsDiscussionSeriesFederalReserveBoard,Washington,D.C.ISSN1936-2854(Print)ISSN2767-3898(Online)AssessingtheCommonOwnershipHypothesisintheUSBankingIndustrySerafinGrundlandJacobGramlich2024-022Pleasecitethispaperas:Grundl,Serafin,andJacobGramlich(2024).“AssessingtheCommonOwnershipHypothesisintheUSBankingIndustry,”FinanceandEconomicsDiscussionSe-ries2024-022.Washington:BoardofGovernorsoftheFederalReserveSystem,https://doi.org/10.17016/FEDS.2024.022.NOTE:StaffworkingpapersintheFinanceandEconomicsDiscussionSeries(FEDS)arepreliminarymaterialscirculatedtostimulatediscussionandcriticalcomment.TheanalysisandconclusionssetfortharethoseoftheauthorsanddonotindicateconcurrencebyothermembersoftheresearchstaffortheBoardofGovernors.ReferencesinpublicationstotheFinanceandEconomicsDiscussionSeries(otherthanacknowledgement)shouldbeclearedwiththeauthor(s)toprotectthetentativecharacterofthesepapers.AssessingtheCommonOwnershipHypothesisintheUSBankingIndustrySerafinGrundlandJacobGramlich∗November17,2023AbstractTheU.S.bankingindustryiswellsuitedtoassessthecommonownershiphypothesis(COH),becausethousandsofprivatebankswithoutcommonownership(CO)competewithhundredsofpublicbankswithhighandincreasinglevelsofCO.Thispaperas-sessestheCOHinthebankingindustryusingmorecomprehensiveownershipdatathanpreviousstudies.Insimplecompa...
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