... the behavior of the capital buffer: while the capital buffers of both savings and cooperative banks behave anticyclically over the business cycle, the capital buffers of savings banks react more ... capital buffers increases both in a business cycle upturn and downturn. On the contrary, both for savings banks with low capital buffers and for cooperative banks with low capital buffers, the ... **, and * indicate statistical significance at the 1, 5, and 10 percent level, respectively, in a two-tailed t-test. Banks regulatory capital buffer and the business cycle: evidence for German...