Eintrag weiter verarbeiten
Interbank rate uncertainty and bank lending
Gespeichert in:
Personen und Körperschaften: | , , , |
---|---|
Titel: | Interbank rate uncertainty and bank lending/ Carlo Altavilla, Giacomo Carboni, Michele Lenza, Harald Uhlig |
Format: | E-Book |
Sprache: | Englisch |
veröffentlicht: |
Frankfurt am Main, Germany
European Central Bank
[2019]
|
Gesamtaufnahme: |
Europäische Zentralbank: Working paper series ; no 2311 (August 2019)
|
Quelle: | Verbunddaten SWB Lizenzfreie Online-Ressourcen |
Zusammenfassung: | This paper investigates the effects of interbank rate uncertainty on lending rates to euro area firms. We introduce a novel measure of interbank rate uncertainty, computed as the cross-sectional dispersion in interbank market rates on overnight unsecured loans. Using proprietary bank-level data, we find that interbank rate uncertainty signi cantly raises lending rates on loans to fi rms, with a peak effect of around 100 basis points during the 2007-2009 global financial crisis and the 2010-2012 European sovereign crisis. This effect is attenuated for banks with lower credit risk, sounder capital positions and greater access to central bank funding. |
---|---|
Umfang: | 1 Online-Ressource (circa 33 Seiten); Illustrationen |
ISBN: |
9789289938808
9289938803 |
DOI: | 10.2866/725264 |