credit register from Spain, with the time of a loan application and its granting. When VIX is lower (booms), banks shorten …

-customer transactions and bank loans in Spain, a standard operationalization of credit-supply shocks during the 2008-09 global crisis, and …

We show that loan origination time is crucial for bank lending standards over the credit cycle, as well as for ex …-post loan-level defaults and bank-level failures. We use the credit register in Spain for the business loans over the 2002 …

public guarantee programmes and by the European Central Bank’s policies on the provision of liquidity to credit institutions … outlook, which has reduced the supply and demand for credit in this segment. The adverse impact of the COVID-19 crisis on the … credit quality of deposit institutions’ portfolios is currently being mitigated by the measures taken by the economic …

-shaped monetary policy is linked to crises, we show that the initial loosening of policy is followed by high growth in credit and … vulnerabilities materialize, leading to larger-than-usual declines in credit, asset prices, and real activity. To dig into the …

To study the impact of macroprudential policy on credit supply cycles and real effects, we analyze dynamic provisioning … differentially. We find that dynamic provisioning smooths credit supply cycles and, in bad times, supports firm performance. A 1 … percentage point increase in capital buffers extends credit to firms by 9 percentage points, increasing firm employment (6 …

This paper analyzes the impact of public credit guarantee schemes on the allocation and performance of bank credit … during the COVID-19 crisis. We exploit exhaustive loan-level data from the credit register with unique information on the … from banks to which they have larger pre-COVID credit exposures, measured as the share of the firm’s total credit …

tax change and administrative data from the credit market: (i) a policy change in 2018 in Spain shifting an existing … paying this tax (or have different tax rates); and (iii) an exhaustive matched credit register. We find the following robust …

We analyze the impact of the countercyclical capital buffers held by banks on the supply of credit to firms and their … smooth credit supply cycles and in bad times uphold firm credit availability and performance …

España Central Credit Register, which allow us to monitor all loan applications made by non-financial firms to non … characteristics (ex-ante credit risk and productivity) interacting with two macroeconomic indicators (business cycle and the monetary … heterogeneity by means of firm and banktime fixed effects. Our findings indicate that banks soften their credit standards during …