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How Low Can Central Banks Go? The Banking Threshold to Negative Interest Rates

Berriel, Tiago - 2019

Abstract Negative interest rates policies (NIRP), usually depicted in economic textbooks as an impossibility due to the prospect of infinite demand for money, are now a reality in several countries due to different reasons. But while the ZLB has been surpassed when it comes to Central Banks, it...

Persistent link: https://www.econbiz.de/10012899581

Private bank money vs central bank money : a historical lesson for CBDC introduction

Grodecka, Anna; Zhang, Xin - 2023 - updated July 2023

Central banks have been considering the introduction of central bank digital currencies (CBDCs). The theoretical literature indicates that this may influence private banks' lending activity and their profitability with implications for financial stability. To provide empirical evidence on this...

Persistent link: https://www.econbiz.de/10014289254

Horizontalists, verticalists, and structuralists : the theory of endogenous money reassessed

Palley, Thomas I. - 2013

reassess the theory of endogenous money. The paper distinguishes between horizontalists, verticalists, and structuralists. It … insights from monetary theory. The structuralist approach to endogenous money retains the basic insight that the money supply … finance in a Keynesian theory of output determination. As regards monetary policy, the challenge is how to conduct policy in a …

Persistent link: https://www.econbiz.de/10010201643

Monetary policy and bank stability : the analytical toolbox reviewed

Albertazzi, Ugo; Barbiero, Francesca; Marqués … - 2020

The response of major central banks to the global financial crisis has revived the debate around the interactions between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms underlying the relationship between MP and bank...

Persistent link: https://www.econbiz.de/10012165336

Banks, low interest rates, and monetary policy transmission

Wang, Olivier - 2020

This paper studies how low interest rates weaken the short-run transmission of monetary policy and contract the long-run supply of bank credit. As U.S. bond rates have fallen, the pass-through of monetary shocks to loan and deposit rates has weakened while the spread on U.S. bank loans has...

Persistent link: https://www.econbiz.de/10012316971

Should banks be worried about dividend restrictions?

Schroth, Josef - 2023 - Last updated: September 27, 2023

Countercyclical bank capital requirements have emerged as a popular regulatory tool to help smooth financial cycles. The idea is to reduce capital requirements when exogenous shocks cause aggregate bank capital to decrease so that regulation does not needlessly constrain banks' supply of credit....

Persistent link: https://www.econbiz.de/10014456622

Financial institutions' business models and the global transmission of monetary policy

Argimón, Isabel; Bonner, Clemens; Correa, Ricardo; … - 2018

Global financial institutions play an important role in channeling funds across countries and, therefore, transmitting monetary policy from one country to another. In this paper, we study whether such international transmission depends on financial institutions' business models. In particular,...

Persistent link: https://www.econbiz.de/10011859474

Credit Transmission, Liquidity, and Bank Capital in Colombia

Clavijo, Sergio - 2021

This document analyses monetary policy effects on transmission of credit interest rates in Colombia with particular attention to the period of global liquidity spurred by the COVID-pandemic during 2020-2022. Challenges for banks operating in Colombia are twofold: they face increasing banking...

Persistent link: https://www.econbiz.de/10013234279

Governor Ciampi and the “Ambrosiano Case” : International Banking Supervision and Monetary Policy

Masera, Rainer - 2021

Following bank failures in 1974, notably in Germany (Bankhaus Herstatt of Cologne on June 16) and the US (Franklin National Bank of New York on October 8), the Central Bank Governors of the G10 countries decided to set up a Committee at the BIS in Basel to improve quality and enhance the...

Persistent link: https://www.econbiz.de/10013231905

Banks' Wealth, Banks Creation of Money, and Central Banking

Wang, Tianxi - 2018

Banks are special in that their liabilities are widely accepted as a means of payment, thereby often needed by real sectors to obtain resources. This paper studies this interaction between the banking sector and real sectors on competitive markets and the policy response of the central bank to...

Persistent link: https://www.econbiz.de/10012920288

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