We first sketch how central banks have used unconventional monetary policy measures by using three indicators based on the composition of the balance sheet of eleven central banks. Our analysis suggests that although the ECB's balance sheet has increased dramatically during the crisis, the...

We analyze the relationship between ECB monetary policy and international lending by Dutch financial institutions. Our results suggest that banks hardly change their foreign lending in response to policy changes. We find some evidence in support of the portfolio channel (in response to a...

The large and concentrated international activities of Dutch banks make the Netherlands particularly relevant for assessing the outward transmission of prudential policies. Analysis of the quarterly international claims of 25 Dutch banks in 63 countries over 2000-2013 indicates that Dutch banks...