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

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 …

policies of the European Central Bank since the Global Financial Crisis, mainly in their effectiveness towards bank lending …. Using a variable for newly issued credit instead of the outstanding stock of credit, the effects on bank lending are smaller …

about the pass-through of monetary policy. On the one hand, negative rates could lead to declining bank profitability making … interest rates per se. This paper uses a large micro level data set of the German bank universe to examine how banks behave in … this uncharted territory. The evidence found suggests that bank's business model, i.e. the share of overnight deposits …