Jiang, Hai; Yuan, Chao; Lin, Zhitao - 2022
interbank market and their effects on bank credit growth based on 107 banks from 2005Q4 to 2020Q4 in China. We find that the … credit channel of monetary policy differs across banks with heterogeneous liquidity acquisitions. The liquidity released by … open market operations (OMOs) cannot stimulate credit growth, but increases the net interbank assets of primary banks and …