Why have negative nominal interest rates had such a small effect on bank performance? Cross country evidence

JA Lopez, AK Rose, MM Spiegel - European Economic Review, 2020‏ - Elsevier
We explore the impact of negative policy rates on banks using data on 5200 banks from 27
advanced European and Asian countries, 2010–2017. Our cross-country panel specification …

[PDF][PDF] Post-Covid-19 World

E Carletti, S Claessens, A Fatás, X Vives - Centre for economic policy …, 2020‏ - iese.edu
Banks have come a long way since medieval times, enduring and surviving many crises.
The economic crisis induced by the Covid-19 pandemic may provoke another financial …

[ספר][B] Negative monetary policy rates and portfolio rebalancing: Evidence from credit register data

M Bottero, MC Minoiu, JL Peydró, A Polo… - 2019‏ - books.google.com
We study negative interest rate policy (NIRP) exploiting ECB's NIRP introduction and
administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary …

Negative monetary policy rates and systemic banks' risk‐taking: Evidence from the euro area securities register

J Bubeck, A Maddaloni… - Journal of Money, Credit …, 2020‏ - Wiley Online Library
We show that negative monetary policy rates induce systemic banks to reach‐for‐yield. For
identification, we exploit the introduction of negative deposit rates by the European Central …

[ספר][B] Monetary policy and bank stability: the analytical toolbox reviewed

U Albertazzi, F Barbiero, D Marqués Ibáñez, A Popov… - 2020‏ - econstor.eu
The response of major central banks to the global financial crisis has revived the debate
around the interactions between monetary policy (MP) and bank stability. This technical …

How banks respond to negative interest rates: Evidence from the Swiss exemption threshold

C Basten, M Mariathasan - 2018‏ - econstor.eu
We analyze the effect of negative monetary policy rates on banks, using detailed supervisory
information from Switzerland. For identification, we compare changes in the behavior of …

A prolonged period of low interest rates in Europe: Unintended consequences

S Malovaná, J Bajzík… - Journal of Economic …, 2023‏ - Wiley Online Library
We examine the potential adverse effects of a prolonged period of low interest rates on
financial stability from multiple perspectives. First, we provide a unique comparison of …

[ספר][B] Implications of negative interest rates for the net interest margin and lending of euro area banks

M Klein - 2020‏ - econstor.eu
This paper explores the impact of low (but) positive and negative market interest rates on
euro area banks' net interest margin (NIM) and its components, retail lending and retail …

Expansionary yet different: credit supply and real effects of negative interest rate policy

M Bottero, C Minoiu, JL Peydró, A Polo… - Journal of Financial …, 2022‏ - Elsevier
We show that negative interest rate policy (NIRP) has expansionary effects on credit supply
through a portfolio rebalancing channel. By shifting down and flattening the yield curve …

Credit supply and demand in unconventional times

C Altavilla, M Boucinha, S Holton… - Journal of Money …, 2021‏ - Wiley Online Library
Do borrowers demand less credit from banks with weak balance sheets, following monetary
policy shocks? To answer this, we use novel bank‐specific survey data matched with …