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issues of the UK banking industry. The lack of attention given to banking in economics is criticised. The excessive size and … concentration of UK banking are pointed out. Solutions are being pondered. The secretary of state speaks about changes and the way … forward in the UK banking sector, pointing out increased competition due to new challenger banks and institutions, government …
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Exploiting the introduction of the ECB's tiering system for remunerating excess reserve holdings, we document the importance of access to the money market for bank lending. We show that the two-tier system produced positive wealth effects for banks with excess reserves and encouraged a...
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In this paper, we survey the nascent literature on the transmission of negative policy rates. We discuss the theory of how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the growing evidence that negative policy rates are...
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