Bank risk and monetary policy

Verfasserangabe:  by Yener Altunbas, Leonardo Gambacorta and David Marqués-Ibáñez
Jahr: 
Beschreibung:  We find evidence of a bank lending channel for the euro area operating via bank risk. Financial innovation and the new ways to transfer credit risk have tended to diminish the informational content of standard bank balance-sheet indicators. We show that bank risk conditions, as perceived by financial market investors, need to be considered, together with the other indicators (i.e. size, liquidity and capitalization), traditionally used in the bank lending channel literature to assess a bank’s ability and willingness to supply new loans. Using a large sample of European banks, we find that banks characterized by lower expected default frequency are able to offer a larger amount of credit and to better insulate their loan supply from monetary policy changes. -- Bank ; risk ; bank lending channel ; monetary policy
Person:  ; ;
Ort/Verlag:  Frankfurt am Main : European Central Bank
Umfang:  Online-Ressource, (29 S., 662 KB)
Schriftenreihe:  Working paper series / European Central Bank ; 1075Working paper series / European Central Bank ; 1075
Sprache:  Englisch
Thema:  Geldpolitik; Monetary Policy; Kreditgeschäft; Bank lending; Transmissionsmechanismus; Monetary transmission; Bankrisiko; Bank risk; EU-Staaten; EU countries
Klassifikation:  jel-E44; jel-E55
Dokumentart (Subkategorien):  Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature
Publikationsform:  Buch / Working Paper
Anmerkungen:  Systemvoraussetzungen: Acrobat Reader
Nachweis aus Datenbank:  ECONIS - Online-Katalog der ZBW
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