. We show that ECB communications at the press conference were crucial for the market response and that bank health … some persistence. Other bank characteristics, in particular bank size, leverage and NPL ratios, amplified the impact of … monetary policy shocks on banks. After the OMT announcement, we detect that the response of bank stocks to monetary policy …

Markets Programme (SMP). Using detailed security holdings data at the bank level, we show that banks exposed to this …

We contribute to the empirical literature on the impact of shocks to bank capital in the euro area by estimating a … economy, namely a demand shock and a shock to bank capital. The main findings of the paper are as follows: i) Impulse …-response analysis shows that in response to a shock to bank capital, banks boost capital ratios by reducing their relative exposure to …

the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for …

framework were more likely to require public support during the crisis. We instrument some characteristics of bank balance … sheets with these prudential indicators to investigate how they affect bank resilience. The share of non-interest income …

strength of monetary policy accommodation and the degree of bank riskiness are key determinants of the trade-off between the …