We analyze securities trading by banks and the associated spillovers to the supply of credit.Empirical analysis has … been elusive due to the lack of securities register for banks. We use a unique, proprietary dataset that has the … investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. Analyzing data at …

We analyze securities trading by banks during the crisis and the associated spillovers to the supply of credit. We use … a proprietary dataset that has the investments of banks at the security level for 2005-2012 in conjunction with the … credit register from Germany. We find that - during the crisis - banks with higher trading expertise (trading banks) increase …

identify the effect of higher capital requirements by comparing the change in the outcome for banks just above and below the … discontinuity and on a difference-in-differences matching design. We find that, when parent banks are constrained with higher … effect by reducing banks' risk-taking while having a (temporary) adverse impact on the real economy through a decrease in …

European and U.S. banks. The robust results show that a softening of foreign monetary policy increases the supply of credit of … foreign banks to Mexican firms. Each regional policy shock mainly affects supply via their respective banks, in turn implying …

leverage faced tighter constraints in accessing bank credit after the COVID-19 outbreak in spring 2020. Specifically, SMEs with … higher pre-COVID leverage obtained a smaller volume of new loans and had to pay a higher spread on them during the pandemic … period. Consistent with an inward shift in loan supply, these effects were concentrated in loans originated by banks with …

unique collateral leverage channel, which cannot be replicated by standard capital requirements. Through this channel, banks …Bank leverage constraints can emerge from regulatory capital requirements as well as from central bank collateral … loans with tighter monitoring of firms. The collateral leverage channel can improve welfare beyond standard bank capital …

College) gave the SUERF 2015 Annual Lecture on Capital and Banks. The conference focused on core aspects of banking reform …

College) gave the SUERF 2015 Annual Lecture on Capital and Banks. The conference focused on core aspects of banking reform …

bank’s corporate loan portfolio …