This paper uses U.S. credit register data and the 2018-19 Trade War to study the effects of uncertainty on domestic credit supply. Exploiting differences in banks' ex-ante exposure to trade uncertainty, we find that increased uncertainty is associated with a broad lending contraction across...

We show that negative interest rate policy (NIRP) has expansionary effects on bank credit supply and firm outcomes through a portfolio rebalancing channel. For identification, we exploit ECB's NIRP and credit register, firm- and bank-level datasets. NIRP affects relatively more banks with higher...

We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of total cross-border loan exposures during this period....

We study the link between the unexpected surge in credit line drawdowns in March-April 2020 and banks’ subsequent lending decisions. We find that banks with larger ex ante credit line portfolios, thus higher risk of drawdowns, tightened loan supply and the terms on new loans, especially to...