Exploiting confidential data on individual German bank balance-sheets, I analyse what characterises a bank that opts to …

Central Bank’s policy-rate cuts in mid-2014. The pass-through of the rate cuts to banks’ funding costs differs across the euro … provide a simple model of an augmented bank balance-sheet channel where in addition to costly external financing, there is …

This paper examines the relationship between central bank funding and credit risk-taking. Employing comprehensive bank …-firm-level data from the German credit registry during 2009:Q1-2014:Q4, we find that borrowing from the central bank is associated … with rebalancing of bank portfolios towards ex-ante riskier firms. We further establish that this relationship is …

We show that the transmission of the European Central Bank’s (ECB) recent monetary policy tightening differs across …

finance premium, while a BGG model generates too low volatility. The full model also matches the procyclicality of bank …

We study the implications of the Eurosystem's expanded Asset Purchase Programme (APP) for the bank lending business of … confidential bank-level data on quantitative balance sheet items and interest rates as well as on qualitative survey responses to … the Eurosystem's Bank Lending Survey, we identify the exposure of banks to the APP and corresponding effects on loan …

interest margin (NIM) and its components, retail lending and retail deposit rates. Using two proprietary bank-level data sets …