Switzerland. For identification, we compare changes in the behavior of banks that had different fractions of their central bank …

different levels of bank risk (measured by the distance to default), considering the possible specificities across business … raises the suspicion of regulatory arbitrage to a different extent across bank business models. Third, we explore whether …, and to what extent, the degree of regulatory arbitrage varies across bank business models. Our findings show that one of …

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 …

expectations for NPLs are found to be effective in reducing banks' NPLs. The phase-in of the policies can temporarily reduce bank …