G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7952
DP7952 Foreign Currency Loans - Demand or Supply Driven?
Steven Ongena; Martin Brown; Karolin Kirschenmann
发表日期2010-08-01
出版年2010
语种英语
摘要Motivated by concerns over foreign currency exposures of banks in Emerging Europe, we examine the currency denomination of business loans made in Bulgaria during the period 2003-2007. We analyze a unique dataset including information on the requested and granted currency for more than hundred thousand loans granted by one bank to sixty thousand different firms. This data set allows us to disentangle demand-side from supply-side determinants of foreign currency loans. We find that 32% of the foreign currency loans disbursed in our sample were actually requested in local currency by the firm. Our analysis suggests that the bank lends in foreign currency, not only to less risky firms, but also when the firm requests a long-term loan and when the bank itself has more funding in euro. These results imply that foreign currency borrowing in Eastern Europe is not only driven by borrowers who try to benefit from lower interest rates but also by banks hesitant to lend long-term in local currency and eager to match the currency structure of their assets and liabilities.
主题Financial Economics
关键词Banking Foreign currency debt
URLhttps://cepr.org/publications/dp7952
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/536787
推荐引用方式
GB/T 7714
Steven Ongena,Martin Brown,Karolin Kirschenmann. DP7952 Foreign Currency Loans - Demand or Supply Driven?. 2010.
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