policy rose substantially in the immediate aftermath of the global financial crisis, peaked around the time of the 2013 … international debt securities. The increased sensitivity of international bank flows to U.S. monetary policy has been driven mainly … that were better capitalized. The post-2013 reversal in the sensitivities to U.S. monetary policy partially reflects the …

The development of macroprudential policy tools has been one of the most significant changes in banking regulation in … instruments to study international spillovers of prudential policy changes and their effects on bank lending growth. The … rates. Third, the effects of international spillovers of prudential policy on loan growth rates have not been large on …