Temat: credit supply - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: The Effect of Targeted Monetary Policy on Bank Lending
Autorzy:: Laine, Olli-Matti
Powiązania:: https://bibliotekanauki.pl/articles/2047069.pdf
Data publikacji:: 2021-06-18
Wydawca:: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:: unconventional monetary policy
credit supply
TLTRO
bank lending
Opis:: This paper studies the effect of central banks’ targeted refinancing operations on bank lending. It utilizes data from the European Central Bank’s targeted longer-term refinancing operations (TLTROs) together with monthly bank level balance sheet data from multiple countries. The effect of targeted policy is identified utilizing the institutional setting that provides natural instrumental variables and a proxy for credit demand. Unlike previous papers, this paper studies the effects on corporate loans and loans for consumption separately. The cumulative effect of TLTROs on participating banks’ stock of corporate loans is estimated to be significant (about 20 per cent). However, the effect on lending for consumption is found close to zero. Furthermore, the positive effects on corporate loans are found to be driven by crisis countries suggesting that the effectiveness of monetary policy depends on the economic conditions. The paper also finds some evidence that the effect on government bond purchases is negative. This result is very different from the earlier results regarding non-targeted liquidity operations.
Źródło:: Journal of Banking and Financial Economics; 2021, 1(15); 25-43
2353-6845
Pojawia się w:: Journal of Banking and Financial Economics
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: Global Liquidity Determinants Across Emerging and Advanced Countries
Autorzy:: Karkowska, Renata
Powiązania:: https://bibliotekanauki.pl/articles/565660.pdf
Data publikacji:: 2015
Wydawca:: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:: global liquidity
emerging countries
credit supply
financial instability
Opis:: The paper explores the concept of global liquidity and its determinants, focusing on the banking system in advanced and emerging markets. We explore the implications of the interaction between liquidity and its local, global and financial markets determinants. We also analyze the global liquidity channels, i.e. whether foreign banks play a significant role in the country’s financial system. The study focuses on the investigation of banks’ liquidity determinants in 42 countries (advanced and emerging/developing countries) over the 2000–2011 period. The results show the significance of the differences in global liquidity depending on the country’s level of development. We find support to the conjecture that globalization and global banks’ leverage may convey some useful information on global liquidity. We also present an important observation that banks’ lending in advanced countries is shielded from the monetary policy because of their ability to freely access alternative sources of funds.
Źródło:: Journal of Banking and Financial Economics; 2015, 1(3); 152-170
2353-6845
Pojawia się w:: Journal of Banking and Financial Economics
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: Risk, capital buffers and bank lending: The adjustment of euro area banks
Autorzy:: Maurin, Laurent
Toivanen, Mervi
Powiązania:: https://bibliotekanauki.pl/articles/565640.pdf
Data publikacji:: 2015
Wydawca:: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:: banks
euro area
capital ratios
credit supply
partial adjustment model
Opis:: This paper estimates euro area banks’ internal target capital ratios and investigates whether banks’ adjustment to the targets affects their credit supply and securities holdings during the financial crisis in 2005–2011. Based on data on listed banks and country-specific macro-variables, a partial adjustment model is estimated in a panel context. The results indicate, first, that an increase in the riskiness of banks’ balance sheets positively influences banks’ target capital ratios. On the euro area level, we find banks’ undercapitalisation in terms of Tier 1 capital ratio to be close to 2 percentage points in the middle of 2008. While median capital gaps diminish towards the end of 2011, the heterogeneity across individual banks increases. Second, the adjustment towards higher equilibrium capital ratios has a significant impact on banks’ assets. The impact is more sizeable on security holdings than on loans, thereby suggesting a pecking order of bank assets for deleveraging.
Źródło:: Journal of Banking and Financial Economics; 2015, 1(3); 113-129
2353-6845
Pojawia się w:: Journal of Banking and Financial Economics
Dostawca treści:: Biblioteka Nauki

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