Liu, Emily; Niepmann, Friederike; Schmidt-Eisenlohr, Tim - 2019
This paper shows that monetary policy and prudential policies interact. U.S. banks issue more commercial and industrial … loans to emerging market borrowers when U.S. monetary policy eases. The effect is less pronounced for banks that are more … easing when liquidity is abundant, banks are more flexible, and the scope for adjusting lending is larger when they have a …