Exploiting a granular dataset of banks' security holdings I assess the impact of unconventional monetary policy on bank lending and security holdings. Using a difference-in-differences regression setup and holding the security composition of each bank constant at its level in January 2014, well...

Exploiting a granular dataset of banks' security holdings I assess the impact of unconventional monetary policy on bank lending and security holdings. Using a difference-in-differences regression setup and holding the security composition of each bank constant at its level in January 2014, well...

This paper studies the impact of unconventional monetary policy on bank lending and security holdings. I exploit granular security register data and use a difference - in-differences regression setup to provide evidence for the presence of a yield-induced portfolio rebalancing channel: Banks...

Have banks become more similar? In this paper we test this hypothesis using data on Japanese banks' loan portfolios over the period 1996–2013. Using various similarity measures, we find that banks have in fact become less similar over time. This finding would suggest that concerns over a more...