We analyze the impact of quantitative easing by the Federal Reserve, European Central Bank and Bank of England on cross … and UK, respectively. In general QE works at short maturities across bank locations and loan currencies, more strongly for …

that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …

bigger capital buffer. We conjecture that bank lending to emerging markets during the zero-lower bound period would have been … constrained through the U.S. bank stress tests, reflected in a lower minimum capital ratio in the severely adverse scenario. This … easing when liquidity is abundant, banks are more flexible, and the scope for adjusting lending is larger when they have a …