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. …

We study how monetary conditions change the supply by banks of mortgage credit to households. We exploit the widespread … presence of foreign currency mortgages in Hungary and study this country`s comprehensive credit registry. Changes in monetary … conditions not only affect the supply of credit in volume, but also in its currency and risk composition. Hence, we establish a …