Regulatory Technology and Bank Opacity: Evidence from a Reduction in Information Processing Costs

Regulatory Technology and Bank Opacity: Evidence from a Reduction in Information Processing Costs

Regulatory Technology and Bank Opacity: Evidence from a Reduction in Information Processing Costs

The launch of the Central Data Repository required US commercial banks to submit machine-readable XBRL call reports starting in 2005, significantly reducing information processing costs for users of bank data. Using a regression discontinuity in time design, we find banks became 4% less opaque in the reporting period immediately following this regulatory technology initiative.

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