| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17072 |
| DP17072 Tracing Banks' Credit Allocation to their Funding Costs | |
| Adrien Matray; Farzad Saidi | |
| 发表日期 | 2022-02-27 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We quantify how banks' funding costs affect their lending behavior directly, and indirectly by feeding back to their net worth. For identification, we exploit banks' heterogeneous liability structure and the existence of regulated deposits in France whose rates are set by the government. Using administrative credit-registry and regulatory bank data, we find that a one-percentage-point increase in funding costs reduces credit by 17%. To insulate their profits, banks reach for yield and rebalance their lending towards smaller and riskier firms. These changes are not compensated for by less affected banks at the aggregate city level, with repercussions for firms' investment. |
| 主题 | Financial Economics ; International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | Bank funding costs Monetary-policy transmission Deposits Credit supply Smes Savings |
| URL | https://cepr.org/publications/dp17072 |
| 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/546033 |
| 推荐引用方式 GB/T 7714 | Adrien Matray,Farzad Saidi. DP17072 Tracing Banks' Credit Allocation to their Funding Costs. 2022. |
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