This paper studies how banks' balance sheets and funding costs interact in the transmission of monetary-policy rates to … banks' credit supply to firms. To do so, we use credit-registry data from Germany and Portugal together with the European … Central Bank's policy-rate cuts in mid-2014. The pass-through of the rate cuts to banks' funding costs differs across the euro …

financial sector-specific stress across a panel of advanced and emerging economy central banks. We use a factor … economy central banks, as they pursue aggressive monetary policy loosening in response to stock market and banking stress only … generally weak for emerging market central banks. …

Do negative policy rates hinder banks' transmission of monetary policy? To answer this question, we examine the … behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher … structure of banks may matter for the transmission of negative policy rates, especially for long-maturity illiquid assets …