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Substitution between domestic and foreign currency loans in Central Europe. Do central banks matter?

Brzoza-Brzezina, Michał; Chmielewski, Tomasz; … - Volkswirtschaftliche Fakultät, … - 2007

In this paper we ask a question about the impact of monetary policy on total bank lending in the presence of a developed market for foreign currency denominated loans and potential substitutability between domestic and foreign currency loans. Our results, based on a panel of three biggest...

Persistent link: https://www.econbiz.de/10005619336

Bank risks, risk preferences and lending

Chmielewski, Tomasz - Volkswirtschaftliche Fakultät, … - 2005

The recent debate on the impact of capital regulation on bank behaviour shows that risk exposures of banks might influence the amount of loans newly granted to the non-financial sector. The paper extends the traditional set of bank-specific variables used in testing for the bank lending channel...

Persistent link: https://www.econbiz.de/10005623224

Interest rate pass-through in the Polish banking sector and bank-specific financial disturbances

Chmielewski, Tomasz - Volkswirtschaftliche Fakultät, … - 2003

The purpose of this study is to assess the impact of disturbances in operation of the Polish banking sector on the effectiveness of monetary policy implementation. The pass-through mechanism from market interest rates to retail interest rates, offered by banks to their customers, is analysed in...

Persistent link: https://www.econbiz.de/10005790068

Substitution between domestic and foreign currency loans in Central Europe. Do central banks matter?

Brzoza-Brzezina, Michał; Chmielewski, Tomasz; … - European Central Bank - 2010

In this paper we analyse the impact of monetary policy on total bank lending in the presence of a developed market for foreign currency denominated loans and potential substitutability between domestic and foreign currency loans. Our results, based on a panel of four biggest Central European...

Persistent link: https://www.econbiz.de/10008484245

Trusting the bankers: a new look at the credit channel of monetary policy

Ciccarelli, Matteo; Peydró, José-Luis; Maddaloni, Angela - European Central Bank - 2010

Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...

Persistent link: https://www.econbiz.de/10008560375

Bank risk-taking, securitization, supervision and low interest rates: Evidence from the euro area and the U.S. lending standards

Maddaloni, Angela; Peydró, José-Luis - European Central Bank - 2010

Using a unique dataset of the Euro area and the U.S. bank lending standards, we find that low (monetary policy) short-term interest rates soften standards, for household and corporate loans. This softening – especially for mortgages – is amplified by securitization activity, weak supervision...

Persistent link: https://www.econbiz.de/10008678673

Monetary policy, macroprudential policy and banking stability: evidence from the euro area

Maddaloni, Angela; Peydró, José-Luis - European Central Bank - 2013

crisis, and of the provision of central bank liquidity during the crisis. Exploiting the euro area institutional setting for … helped to soften lending conditions that were tightened because of bank capital and liquidity constraints, especially for … business loans. Importantly, this softening effect is stronger for banks that borrow more long-term liquidity from the …

Persistent link: https://www.econbiz.de/10010686767

Heterogeneous transmission mechanism: monetary policy and financial fragility in the euro area

Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - European Central Bank - 2013

The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable country heterogeneity. Using detailed data on lending conditions and standards, we analyse how financial fragility has affected the transmission mechanism of the single Euro...

Persistent link: https://www.econbiz.de/10010686876