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Impact Of Bank Competition On The Interest Rate Pass Through In The Euro Area
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Book Synopsis Impact of Bank Competition on the Interest Rate Pass-through in the Euro Area by : Michiel van Leuvensteijn
Download or read book Impact of Bank Competition on the Interest Rate Pass-through in the Euro Area written by Michiel van Leuvensteijn and published by . This book was released on 2008 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Impact of bank competition on the interest rate pass-through in the euro area by : Michiel van Leuvensteijn
Download or read book Impact of bank competition on the interest rate pass-through in the euro area written by Michiel van Leuvensteijn and published by . This book was released on 2008 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Negative Interest Rate Policy (NIRP) by : Andreas Jobst
Download or read book Negative Interest Rate Policy (NIRP) written by Andreas Jobst and published by International Monetary Fund. This book was released on 2016-08-10 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than two years ago the European Central Bank (ECB) adopted a negative interest rate policy (NIRP) to achieve its price stability objective. Negative interest rates have so far supported easier financial conditions and contributed to a modest expansion in credit, demonstrating that the zero lower bound is less binding than previously thought. However, interest rate cuts also weigh on bank profitability. Substantial rate cuts may at some point outweigh the benefits from higher asset values and stronger aggregate demand. Further monetary accommodation may need to rely more on credit easing and an expansion of the ECB’s balance sheet rather than substantial additional reductions in the policy rate.
Book Synopsis The Impact of the Euro on the Retail Bank Interest Rate Pass-Through by : Dr. John Aggelis
Download or read book The Impact of the Euro on the Retail Bank Interest Rate Pass-Through written by Dr. John Aggelis and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamic relationship between the key policy interest rate and different short-term lending and saving rates is analysed by measuring the pass-through process between these interest rates in the banking systems of Euro area countries. This paper also examines the interdependencies between the Euro area retail banking markets. In order to capture efficiently these relationships, this study employed an impulse response model, based on VAR specification. This study focuses on the period from January 1985 to January 2004 as well as on the pre- and post Euro sub-periods. The impulse response model showed that policy controlled interest rates are not immediately reflected in retail bank interest rates. The results of this study provide evidence that the pass-through is higher in the longer term. It is evident from the impulse response results that consumer lending and saving rates are stickier than other bank retail rates, for most of the Euro area countries. It is also evident that some Euro area countries display stickier interest rate series than others. The introduction of the Euro as common currency in the eleven countries studied led to a slower and weaker pass-through process for most Eurozone countries, as the impulse response empirical analysis shows.
Book Synopsis Recent Developments in European Bank Competition by : Mr.Yu Sun
Download or read book Recent Developments in European Bank Competition written by Mr.Yu Sun and published by International Monetary Fund. This book was released on 2011-06-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the degree of bank competition in the euro area, the U.S. and U.K. before and after the recent financial crisis, and revisits the issue whether the introduction of EMU and the euro have had any impact on bank competition. The results suggest that the level of bank competition converged across euro area countries in the wake of the EMU. The recent global financial crisis led to a fall in competition in several countries and especially where large credit and housing booms had preceded the crisis..
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9928445397 Total Pages :344 pages Book Rating :4.9/5 (284 download)
Book Synopsis Negative Euro Area Interest Rates and Spillovers on Western Balkan Central Bank Policies and Instruments by : International Monetary Fund
Download or read book Negative Euro Area Interest Rates and Spillovers on Western Balkan Central Bank Policies and Instruments written by International Monetary Fund and published by International Monetary Fund. This book was released on 2017-05-04 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proceedings of a conference co-hosted by the Bank of Albania and the International Monetary Fund in May 2017.
Book Synopsis Fragmentation and Monetary Policy in the Euro Area by : Mr.Ali J Al-Eyd
Download or read book Fragmentation and Monetary Policy in the Euro Area written by Mr.Ali J Al-Eyd and published by International Monetary Fund. This book was released on 2013-10-04 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ECB has taken a range of actions to address bank funding problems, eliminate excessive risk in sovereign markets, and safeguard monetary transmission. But euro area financial markets have remained fragmented, driving retail interest rates in stressed markets far above those in the core. This has impeded the flow of credit and undermined the transmission of monetary policy. Analysis presented here indicates that the credit channel of monetary policy has broken down during the crisis, particularly in stressed markets, and that SMEs in these economies appear to be most affected by elevated lending rates.Given these stresses, the ECB can undertake additional targeted policy measures, including through additional term loans, collateral policies, and private asset purchases.
Book Synopsis Structural and Cyclical Determinants of Bank Interest Rate Pass-through in Eurozone by : Aurélien Leroy
Download or read book Structural and Cyclical Determinants of Bank Interest Rate Pass-through in Eurozone written by Aurélien Leroy and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Negative Interest Rates by : Luís Brandão Marques
Download or read book Negative Interest Rates written by Luís Brandão Marques and published by International Monetary Fund. This book was released on 2021-03-03 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on negative interest rate policies and covers a broad range of its effects, with a detailed discussion of findings in the academic literature and of broader country experiences.
Book Synopsis Effects of Bank Capital on Lending by : Joseph M. Berrospide
Download or read book Effects of Bank Capital on Lending written by Joseph M. Berrospide and published by DIANE Publishing. This book was released on 2011-04 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect of bank capital on lending is a critical determinant of the linkage between financial conditions and real activity, and has received especial attention in the recent financial crisis. The authors use panel-regression techniques to study the lending of large bank holding companies (BHCs) and find small effects of capital on lending. They then consider the effect of capital ratios on lending using a variant of Lown and Morgan's VAR model, and again find modest effects of bank capital ratio changes on lending. The authors¿ estimated models are then used to understand recent developments in bank lending and, in particular, to consider the role of TARP-related capital injections in affecting these developments. Illus. A print on demand pub.
Book Synopsis Euro Area Banks' Market Power, Lending Channel and Stability by : Yener Altunbaş
Download or read book Euro Area Banks' Market Power, Lending Channel and Stability written by Yener Altunbaş and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates to what extent the introduction of negative monetary policy rates altered the competitive behaviour in the euro area banking sector. Specifically, it analyses the effect that negative policy rates had on euro area banks' market power in comparison to banks that have not been subject to negative rates. The analysis, considering a sample of 4,223 banks over the period 2011-2018 and relying on a difference-in-differences methodology, finds that negative monetary policy rates led to an increase in euro area banks' market power. Furthermore, it shows that, during the negative interest rate policy period, change in banks' competitive behaviour affected the bank lending channel and discouraged banks from taking excessive risks.
Book Synopsis The Interest Rate Pass-Through in the Euro Area During the Global Financial Crisis by : Nikolay Hristov
Download or read book The Interest Rate Pass-Through in the Euro Area During the Global Financial Crisis written by Nikolay Hristov and published by . This book was released on 2012 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Retail Bank Interest Rate Pass-through by : Matthieu Darracq-Paries
Download or read book The Retail Bank Interest Rate Pass-through written by Matthieu Darracq-Paries and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Jagged Cliffs and Stumbling Blocks by :
Download or read book Jagged Cliffs and Stumbling Blocks written by and published by . This book was released on 2015 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has been characterised by fragmentation in the transmission of monetary policy, reflected in high dispersion in the cost of bank finance for euro area firms. Using micro-level bank data across a number of euro area countries, we identify individual bank balance sheet characteristics that contributed to this fragmentation. Interest rate pass-through heterogeneity is estimated using an error correction framework, which captures banks' funding constraints and balance sheet structures. Results show incomplete pass-through of changes in money market rates targeted by the central bank to firms' lending rates, with increases in sovereign bond yields affecting the cost of finance for firms, particularly in stressed countries. Individual bank characteristics have an effect on pass-through during the crisis, even after controlling for changes in macroeconomic conditions. The effect is greatest when looking at characteristics that capture bank funding difficulties, suggesting that a recovery in banks' funding capacities is an important element in reducing fragmentation in the transmission of monetary policy.
Book Synopsis Euro Area Retail Banking Markets Integration by : Dr. John Aggelis
Download or read book Euro Area Retail Banking Markets Integration written by Dr. John Aggelis and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: An integrated market for financial services has been considered an integral part of the European Union's single market project. This is particularly true as finance in continental Europe is traditionally bank-dominated. The creation of a single currency for twelve European member states has been seen by many as a potential common ground for retail banking markets, which is expected to facilitate further integration. This paper investigates the impact of the introduction of the single currency on the degree of integration between the potential retail interest rate markets in the Euro area. Given the non-stationary nature of the retail rate series, the method of cointegration through a VAR specification is employed. In particular, by employing co-integration, market integration will exist when interest rates exhibit a certain long-term equilibrium relationship, by recognizing at the same time that full equalization may not occur. This study focuses on the period from January 1985 to January 2004 as well as on the pre- and post-Euro sub-periods.
Book Synopsis Bank Interest Rate Setting in the Euro Area During the Great Recession by : Gonzalo Camba-Mendez
Download or read book Bank Interest Rate Setting in the Euro Area During the Great Recession written by Gonzalo Camba-Mendez and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Integration in the Euro Area and the Bank Interest Rate Pass-through by : Paula Maudos-Gumbau
Download or read book Financial Integration in the Euro Area and the Bank Interest Rate Pass-through written by Paula Maudos-Gumbau and published by . This book was released on 2019 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
