of data on banks’ balance sheets, central banks and money market funds; on interest rates on deposits and loans; on non …

In this paper we examine credit market participation and financial vulnerability by income, making use of a large …

This paper studies the role of credit-supply factors in business cycle fluctuations. For this purpose, we introduce an … imperfectly competitive banking sector into a DSGE model with financial frictions. Banks issue collateralized loans to both …

level of GDP would decline by 0.00-0.33% (0.03-0.39% if credit rationing is also accounted for), corresponding to a … reduction of annual output growth in the transition period of 0.00-0.04 percentage points (0.00-0.05 percentage points if credit … of at most 0.02 percentage points. If banks felt forced to speed up the transition to the new capital rules by the …

¿½on tap� from central banks. This paper disentangles the two components of the three-month Euribor-Eonia swap spread, credit … May 2009 and February 2010 was influenced mainly by credit risk, suggesting that European banks were still in a ï …After August 2007 the plumbing system that supplied banks with wholesale funding, the interbank market, failed because …

The paper assesses the extent to which mortgage rates in Italy are priced according to credit risk as proxied by the … the analysis of mortgage pricing to Italian households. Consistent with the more extensive use of credit scoring … techniques, our estimates indicate that Italian lenders have increasingly priced mortgage interest rates with reference to credit …

-country price homogeneity/heterogeneity in euro area retail credit markets. Econometric analysis shows that the banking market is …

This paper shows how credit quality transition matrices of loans to Italian firms changed during a cyclical downturn … (2008-09), compared with a previous time of growth (2006-07). Once transition matrices were linked to interest rates, banks … and recession. However, the uncertainty generated by the crisis accentuated the unexpected component of credit worsening …

evidence that banks managed their overall interest rate risk exposure by means of on-balance-sheet restructuring complemented … significantly across banks. The different impact of a future increase in interest rates on banks� economic value will be a matter …

distorted monetary and credit conditions, hindering the ECB monetary policy transmission mechanism and raising the cost of loans … credit in the peripheral countries. A counterfactual exercise indicates that if the spreads had remained constant at the …, respectively, at the end of 2011. These results are robust to alternative measures of the cost of credit and econometric techniques. …