lending policies of euro area banks. To guide our empirical research, we build a theoretical model in which banks compete à la … effects take place because bidding banks expand their loan supply due to the lower marginal costs implied by the TLTROs …. Indirect effects on non-bidders operate via changes in the competitive environment in banks’ credit and deposit markets and are …

Lending Survey and the Spanish Credit Register. Banks whose net interest income is adversely affected by negative rates are … capital ratios. These banks also increase non-interest charges more. But, importantly, we find no differences in banks’ credit …

. Euro area banks’ responses to the Bank Lending Survey (BLS) enable the banks to be classified into two groups, depending on … whether their net interest income has been impaired or not by the negative rates (“affected” versus “unaffected” banks). The … analysis in this article shows that the affected banks are generally not as well capitalised. This circumstance might have …

the European Central Bank (ECB) on the credit supply of the euro area banks. An empirical approach is used that permits … distinction between the direct and indirect effects of the TLTROs. The direct effects are that banks participating in the TLTROs … the changes that the TLTROs produce in the competition between banks in the loan and deposit markets and which also affect …

associated with loans and deposits of households and non-financial corporations, or fee and commission income. Breaking down net …

Rationale The share of non-marketable assets (mainly bank loans) pledged as collateral in the Eurosystem’s monetary …-marketable assets are loans to firms rated using the Banco de España’s in-house rating system, called ICAS BE. •There is ample scope to … increase the volume of pledged loans with an ICAS BE rating, especially in the case of loans to SMEs. •Spanish firms’ ICAS BE …