Table 8 reports the regression resu

Table 8 reports the regression results by bank size and banks’ deposit base groups. As in Table 7, the sample in this analysis is restricted to local banks, which are banks with more than 70% of deposits on average from one MSA, and includes MSA-level economic controls. Columns (1) and (2) report the results on Change in WSF to RD. Column (1) shows the results for the banks with an old deposit base, and column (2) shows the results for the banks with a young deposit base. The young group consists of banks with an average deposit-weighted fraction of seniors below the median, and the old group contains the rest. As in Table 7, when the FFR increases, we find that the sum of the effects of the lagged FFR changes is positive and significant; that is, the banks’ reliance on wholesale funding increases in both groups, and the increase is larger in the young group. We then interact the changes in the FFR with the Large Bank dummy. Large Bank dummy equals 1 for banks with an assets in the top 5% and 0 otherwise. We find additional sensitivity of reliance on wholesale funding to the change in the FFR in the large bank group, but it is significant only for banks with a young deposit base. The difference between the two sums of effects of the interaction terms, 1.81 − 0.33 = 1.48, is statistically significant, with a t-statistic of 2.81.