In March 2015, the Eurosystem launched its QE-programme. The asset purchases induced a rapid and strong increase in excess reserves, implying a structural liquidity surplus in the euro area banking sector. Against this background, the first part of this paper analyses the Eurosystem's liquidity...

The article supplements the research on the effectiveness of monetary policy transmission - especially through the bank lending channel. The current study focuses on assessing the transmission of monetary impulses through commercial and cooperative banks as well as through individual loan...

This study examines the transmission of monetary policy in the eurozone from 2005 to 2021. The novelty of this research lies in defining the European Central Bank's monetary policy through three dimensions extracted via principal component analysis. These components, examined across various...

Ghana's lending rates when compared to its peer countries such as Botswana, South Africa and Nigeria were very high. Similarly access to bank credit and the size of loans received from banks were also higher in these countries than Ghana. The Association of Ghana Industries identified bank...

We use an extensive loan-level dataset to study the influence of non-performing loans (NPLs) on the supply of bank credit to non-financial firms in Italy between 2008 and 2015. We use time-varying firm fixed effects to control for shifts in demand and changes in borrower characteristics, and we...

This paper focuses on the recent changes in banking systems and how bank-specific characteristics have affected credit supply in five Latin American countries (Brazil, Chile, Colombia, Mexico and Peru). We use detailed credit registry data and apply a common empirical strategy. Since data...

In this paper we test for the potential bias in the estimated contribution of a supply restriction on lending to enterprises, as captured by the assessment of credit standards provided by the banks participating in the Eurosystem Bank Lending Survey (BLS banks). For Italy, we combine the...

In 2016, the volume of bank lending resumed growth. However, its level remains below the 2014 indicators and is insufficient to curtail the reduction of the population's loan debt volumes. There is a shift in the retail bank lending debt structure in favor of the long-term and cheaper mortgages....

Contemporaneous banking theory appear to understand financial institutions as intermediaries, neglecting some facts featuring modern banking: monetary financial institutions issue claims which function as money; they facilitate payments across agents in the economy over time and space; they...

Do macroprudential regulations on residential lending influence commercial lending behavior too? To answer this question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential mortgages on which extra capital requirements were...