conditions not only affect the supply of credit in volume, but also in its currency and risk composition. Hence, we establish a … “bank‐lending‐to‐households” channel of monetary policy that is heterogeneous. While the availability of foreign currency … mortgages weakens the domestic bank‐lending channel overall, weakly capitalized domestic banks relying on swap transactions for …

developments in banks’ balance sheets, profitability and risk-bearing capacity and analyses their relevance for monetary policy. We … non-standard measures were successful in stimulating lending and which bank business models were more strongly affected …

currency. Because most households are unhedged, bank lending in multiple currencies may involve additional risk taking. Changes … credit register data from Hungary, we first establish a "bank-lending-to-households" channel by showing that monetary … mortgage credit along its currency denomination and borrower risk. We find that expansionary domestic monetary conditions …