We use a unique dataset of ratings for euro area corporate loans from commercial banks' internal rating-based (IRBs …) systems and central banks' in-house credit assessment systems (ICASs) to investigate whether banks' IRB ratings underestimate … to ICASs can be partly explained by banks' liquidity constraints, but not by their degree of capitalisation. Overall, our …

This paper investigates the impact of the capital relief package adopted to support euro area banks at the outbreak of …. First, capital relief measures support banks' capacity to supply credit to firms. Second, not all measures are equally … successful. Banks adjust their credit supply only if the capital relief is permanent or implemented through established processes …

Bank (ECB) is underpinned by a clear mandate and independence from government or industry interference in individual …

As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks … developments in banks’ balance sheets, profitability and risk-bearing capacity and analyses their relevance for monetary policy. We … crisis, in a context of financial market stress and weak bank balance sheets, unconventional monetary policy measures have …