institutional feature of the Italian credit market that generates a sharp discontinuity in the allocation of comparable firms into … credit risk categories. Using loan-level data, we show that during the expansionary phase of the cycle, banks relax lending … the cycle, the abrupt tightening of lending standards leads to the exclusion of substandard firms from credit. These firms …

deteriorated credit ratings in economic downturns. We focus on the role of bank loan commitments, which have been increasingly … commitments channel." We find that, as firms draw down more from their pre-existing credit lines when credit market conditions are … quantitatively important and needs to be addressed in designing the regulatory framework for reducing credit procyclicality …

While regulatory capital buffers are expected to be drawn to absorb losses and meet credit demand during crises, this …-cyclical behaviour to preserve capital ratios. By employing granular data from the credit register of the European System of Central … Banks, we isolate credit supply effects and find that banks with little headroom above regulatory buffers reduced their …

overnight repurchase agreements (repo) and loan-level credit registry data on corporate loans. We find that borrowers on the …

This paper focuses on the recent changes in banking systems and how bank-specific characteristics have affected credit … supply in five Latin American countries (Brazil, Chile, Colombia, Mexico and Peru). We use detailed credit registry data and … funding, and a commercial business model generally supply more credit. Such banks are also more sheltered from monetary and …

show a shock to the marked-to-market (MTM) value of bank exposures to sovereign debt led to credit tightening in 2010 … to market, I explore the transmission channels of the unrealized losses on credit supply. I show that a shock to MTM …