how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the …

interest margin (NIM) and its components, retail lending and retail deposit rates. Using two proprietary bank-level data sets …

The paper examines the bank lending activities of banks in a low interest rate environment. External financing of small …- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based … on the Bankscope database, bank balance sheet data is utilized. Control variables are included, such as for the system of …

In June 2014 the ECB became the first major central bank to lower one of its key policy rates to negative territory … by using individual bank data for the euro area to identify possible adjustments by banks triggered by the introduction … of negative interest rates through three channels: government bond holdings, bank lending, and wholesale funding. We find …

policies of the European Central Bank since the Global Financial Crisis, mainly in their effectiveness towards bank lending …. Using a variable for newly issued credit instead of the outstanding stock of credit, the effects on bank lending are smaller …