This paper investigates how declines in the deposit facility rate set by the ECB affect euro area banks' incentives to … hold reserves at the central bank. We find that, in the face of lower deposit rates, banks with a more interest … wellcapitalized banks in the non-GIIPS countries of the euro area. This reveals that conventional monetary policy instruments have …

This paper sheds light on the effect of quantitative easing (QE) on bank lending. Using data on German banks for 2014 …-2016, I show that QE encourages banks to rebalance from securities to loans. For identification, I use bond redemptions as … exogenous variation in banks' need to rebalance their portfolio and hence their exposure to QE. I find that more exposed banks …

For the largest 55 German banks, we detect the presence of countercyclical yield seeking in the form of acquisition of … high-yielding periphery bonds in the period from Q1 2008 to Q2 2011. This investment strategy is pursued by banks not … subject to a bailout, banks characterised by high capitalisation, banks that rely on short-term wholesale funding, and trading …

significant declines and substantial dispersion in European repo rates. However, banks holding these safe assets benefited from … German credit register to show that asset scarcity had real effects: Banks more exposed to asset scarcity increased their …

This paper provides evidence of deliberate private-information disclosure within banks' international business networks …. Using supervisory trade-level data, we show that banks with closer ties to a target advisor in a takeover buy more stocks of … leaking information about takeover bids to connected banks, as it drives up the final offer price without compromising the …