English Abstract: In this paper we examine credit market participation and financial vulnerability by income, making … distress. However, the high concentration of debt in the richest income classes helped to mitigate banks' overall risk …

guarantee scheme to support firms’ liquidity; additional private moratoria were introduced by banks and other financial … subject, on average, to tighter credit access conditions …

using a panel of Italian banks we assess the impact of introducing the IF regulation on the fees that acquiring banks charge …

This paper explores the effect of taxation on the capital structure of banks. For identification, we exploit exogenous … regional banks provided by the Bank of Italy (1998-2011). We find that IRAP rate changes do not always lead to a change in … banks' leverage: banks close to the regulatory constraints do not change their leverage when tax rates change. This holds …

level of GDP would decline by 0.00-0.33% (0.03-0.39% if credit rationing is also accounted for). Compliance with the new … liquidity standards imposes a similar burden in that GDP falls at trough by about 0.20%. If banks felt forced to speed up the …

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 …

credit to non-financial firms in Italy between 2008 and 2015. We use time-varying firm fixed effects to control for shifts in … Asset Quality Review to identify exogenous variations in the banks' NPL ratios. We find that banks' lending behavior is not … causally affected by the level of NPL ratios: the negative correlation between NPL ratios and credit growth in our data is …

enterprises, as captured by the assessment of credit standards provided by the banks participating in the Eurosystem Bank Lending … bias in the estimated contribution of a tightening in credit standards from using the information for the BLS-only banks … Survey (BLS banks). For Italy, we combine the information provided by the relatively small panel of large banking groups …

During the financial crisis banks faced liquidity shocks, and lending slowed down. The reduction in credit availability … needs; on the other hand, the tightening of credit supply was the result of banks' greater risk-aversion, difficulties in … raising funds, and a worsening in the creditworthiness of borrowers. However, banks do not pass on liquidity shocks to …