This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse … loan portfolio relatively unaffected. This may explain why the evidence for a bank lending channel in Germany seems to be …Dieses Papier präsentiert empirische Evidenz zum Verhalten der Interbankkredite in Deutschland nach einem …

This paper investigates the credit channel in Germany and the United Kingdom. The financial systems of these two … competition among credit intermediaries, resulting in a declining dependence on banks in Germany. …