As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks … crisis, in a context of financial market stress and weak bank balance sheets, unconventional monetary policy measures have … non-standard measures were successful in stimulating lending and which bank business models were more strongly affected …

to bank loans, such as financing via equity, debt securities, trade credit and lending from non-banks. We investigate … loans to be substitutes for bank loans with negative responses to a positive loan supply shock while trade credit is a …. Quantitatively, the developments in bank loans and trade credit dominate the response of the overall sum of the external financing …

contractionary impact on bank loan supply. As the newly created excess reserves are heterogeneously distributed across euro area … countries, the impact of QE on bank loan supply may differ across countries. Moreover, we derive implications for monetary … policy implementation. Increases in the central bank's main refinancing rate as well as in the minimum reserve ratio and …

The study aims to investigate the impact of credit growth on the Maastricht criteria targeting process in the new … to maintain credit growth levels close to economic growth potential. …

indeed been succesful in stimulating the credit flow of banks to the private sector. Second, we find support for the "bank … mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have … effect). The role of bank capital is, however, ambiguous. Besides the above favorable direct effect on loan supply, lower …

, resulting in lower asset-, investment- and sales growth for firms obtaining a larger share of their bank credit from the treated …

The aim of this paper is to check the possible existence of a bank lending channel in France. For that purpose, we have … on bank lending …

We contribute to the empirical literature on the impact of shocks to bank capital in the euro area by estimating a … economy, namely a demand shock and a shock to bank capital. The main findings of the paper are as follows: i) Impulse …-response analysis shows that in response to a shock to bank capital, banks boost capital ratios by reducing their relative exposure to …