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As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks’ balance sheets can have very sizeable implications for the transmission of monetary policy. This paper provides an overview of developments in banks’ balance sheets,...
Persistent link: https://www.econbiz.de/10012009071
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...
Persistent link: https://www.econbiz.de/10012099037
To what extent does the availability of credit depend on monetary policy? And, does this relationship vary with bank …
Persistent link: https://www.econbiz.de/10013078975
in the transmission of monetary policy within the credit channel. …
Persistent link: https://www.econbiz.de/10014518532
Empirical estimations of the drivers for loan extension mainly apply the outstanding stock of bank credit as the … and securitisation activity. This paper specifically applies a variable of new credit extensions for eight Euro area … countries in a simultaneous equation panel model to evaluate potential determinants for credit extension, and compares the …
Persistent link: https://www.econbiz.de/10011562650
The goal of the paper is to identify and estimate transmission of monetary policy impulses through the broad credit and … domestic product (GDP), inflation, and volume of loans. The results imply that channels are interrelated and the broad credit …
Persistent link: https://www.econbiz.de/10012929982
ergibt, dass die Geldpolitik das Bankkreditangebot beeinflußt, wobei die Stärke dieses Effekts über Banken in Abhängigkeit …
Persistent link: https://www.econbiz.de/10011419463
This paper investigates to what extent the introduction of negative monetary policy rates altered competitive behaviour in the euro area banking sector. Specifically, it analyses the effect that negative policy rates had on euro area banks’ market power in comparison to banks that have not...
Persistent link: https://www.econbiz.de/10014257207
Do negative policy rates hinder banks' transmission of monetary policy? To answer this question, we examine the behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher ratios of retail overnight deposits to total assets charge...
Persistent link: https://www.econbiz.de/10011975610
banks' credit supply to firms. To do so, we use creditregistry data from Germany and Portugal together with the European …' financing constraints matter less for the supply of credit and there is more risk taking. To rationalize these findings, we …
Persistent link: https://www.econbiz.de/10013163037