policy on bank-level lending and leverage by drawing on a single natural experiment. In 1920, when U.S. monetary policy was … stance. Macroprudential policy caused both bank-level lending and leverage to fall significantly (by 11%-14%), whereas LAW … had only weak and, in some areas, even perverse effects on these bank-level outcomes. I show that the macroprudential tool …

We study the impact of higher bank capital buffers, namely of the Other Systemically Important Institu- tions (O …

results highlight the importance of the starting level of bank capital, bank asset quality, and banks' adjustments for the …

CCyB, especially relative to countries where a bank regulator or the central bank has the authority to set the CCyB. While …

. In the second, we use the bank-specific regulatory change to estimate credit supply responses from (1) a countercyclical …

particular, competition for market share at times of expansion and the difficulty in assessing risk throughout the cycle. However …

, and bank mortgages are intertwined in what we call a deadly embrace. Without macroprudential policies, this deadly embrace …

This paper studies optimal bank capital requirements in a model of endogenous bank funding conditions. I find that … reason is that a high requirement during the recovery lowers bank shareholder value during the crisis and thus creates …

financial crises more reliably, and stimulate the build-up of bank capital before a crisis. …