-run supply of bank credit. As U.S. bond rates have fallen, the pass-through of monetary shocks to loan and deposit rates has … weakened while the spread on U.S. bank loans has risen. I build a model in which banks earn deposit and loan spreads, deposits … dampened at low rates, because deposit spreads act as a better hedge for bank equity against unexpected monetary shocks. In the …

We show that negative policy rates affect the supply of bank credit in a novel way. Banks are reluctant to pass on … low-deposit banks. As a consequence, the introduction of negative policy rates by the European Central Bank in mid-2014 …

a unique bank-level dataset. Bank balance sheet characteristics such as the capital ratio and the exposure to sovereign … debt are responsible for the heterogeneity of pass-through of conventional monetary policy changes. The location of a bank …

find that the policy tightening is followed by a worsening of the budget deficit; firms cut on their demand for bank loans …. Consistent with the bank lending channel of monetary policy at work, the interest rate hike is followed by a short …

This paper investigates the relationship between short-term interest rates and bank risk. Using a unique database that …

measures are somewhat unprecedented in modern central banking history and as the instruments vary widely across the various non … and February 2012. The macroeconomic impact of this measure is identified using the April 2012 Bank Lending Survey (BLS …

This paper conducts the first empirical study of the bank balance sheet channel using data on discouraged and … effect of monetary policy and the business cycle on bank lending and risk-taking. Identification rests on exploiting 1) the … exogeneity of monetary policy to local business cycles, and 2) firm-level and bank-level data to separate the supply of credit …

We find evidence of a bank lending channel for the euro area operating via bank risk. Financial innovation and the new … ways to transfer credit risk have tended to diminish the informational content of standard bank balance-sheet indicators …. We show that bank risk conditions, as perceived by financial market investors, need to be considered, together with the …

strength of the bank lending channel, recent evidence shows that bank-specific characteristics can have a large impact on the …-looking approach to the statistical data coverage of the banking sector by central banks. In particular, there should be a stronger …

We provide evidence that the strength of the bank lending channel varies considerably across three major events in the … easing (QE). We study how lending responds to each shock using detailed bank, firm, and household data from Portugal, a … more effective than signalling events at stimulating the bank lending channel …