, they suggest that a central bank that fails to recognize the distinction between interbank and other short rates could miss …

foreigners. We use a bank-level panel data set spanning all British and foreign banks providing loans within the United Kingdom … credit guarantees, or received capital injections. We use standard empirical panel-data techniques to study the "loan mix …," domestic (British) loans of a bank expressed as a fraction of its total loan activity. We also study effective short …