how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the …

We study the impact of increasingly negative central bank policy rates on banks' propensity to become undercapitalized …

measures in a regulated banking environment. Based on an estimated DSGE model, we explore the interactions between central bank … asset purchases and bank capital-based financial policies (regulatory, supervisory or macroprudential) through its influence … on bank risk-shifting motives. We find that weakly-capitalised banks display excessive risk-taking which reinforces the …

explain about two-thirds of the variation of bank capitalization over the business cycle. We estimate that provisioning …

importance of access to the money market for bank lending. We show that the two-tier system produced positive wealth effects for …

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 …

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 …