and banks. Finally, we find spillover effects in particular from sovereigns in the euro area periphery to the core …

and banks. Finally, we find spillover effects in particular from sovereigns in the euro area periphery to the core …

, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the …

unique collateral leverage channel, which cannot be replicated by standard capital requirements. Through this channel, banks …

-interest rate environment, which fundamentally changed the business environment for the Japanese commercial banks. On the income … side, with interest margins becoming increasingly depressed, net interest revenues declined, which forced the banks to … expand revenues from fees and commissions. The banks had to cut costs by reducing the number of employees, closing branches …