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  1. Bank leverage and monetary policy's risk-taking channel
    evidence from the United States
    Author: Dell'Ariccia, Giovanni; Laeven, Luc; Suárez, Gustavo A.
    Published: 2013
    Publisher:  IMF, Washington, DC

    We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms... more

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

     

    We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally

     
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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781484381137
    Other identifier:
    Series: IMF working paper ; 13/143
    Subjects: Bankrisiko; Bilanzstrukturmanagement; Geldpolitik; Geldpolitische Transmission; Zins; USA
    Scope: Online-Ressource (40 S.), graph. Darst.
    Notes:

    Description based upon print version of record

    Cover; Contents; I. Introduction; II. A Simple Model of Interest Rates, Leverage, and Bank Risk Taking; III. Empirical Methodology; A. Regression Model of Bank Risk Taking; B. Financial Stability Considerations and Monetary Policy: Evidence from FOMC Minutes; IV. Data and Descriptive Statistics; A. Survey of Terms of Business Lending; B. Datasets and Variable Definitions; C. Descriptive Statistics of Main Variables; V. Empirical Results; A. Main Results; B. Robustness Checks; C. Long Periods with Low Interest Rates; VI. Conclusions; References; Figures; 1. Interest Rates and Bank Risk Taking

    Tables1. Summary Statistics; 2. Loan Risk Ratings and the Federal Funds Rate; 3. Loan Risk Ratings, the Federal Funds Rate, and Loan Characteristics; 4. Risk Ratings, the Federal Funds Rate, and Bank Capital; 5. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital for Loans Not Under Commitment; 6. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital in Small Banks; 7. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital in States Without Large Banks; 8. Loan Risk Rating, the Federal Funds Rate, and Bank Capital and State Cyclicality

    9. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital during Periods of Bank Distress10. Loan Risk Ratings, Bank Capital, and Regional Monetary Policy Conditions; 11. Loan Risk Rating, the Federal Funds Rate, Bank Capital, and the State of the Economy; 12. Loan Risk Rating, Bank Capital, and Long Periods of Low Interest Rates; Appendix Table 1. Frequency of Keywords Appearing in FOMC Minutes
  2. Bank leverage and monetary policy's risk-taking channel
    evidence from the United States
    Author: Dell'Ariccia, Giovanni; Laeven, Luc; Suárez, Gustavo A.
    Published: 2013
    Publisher:  IMF, Washington, DC

    We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms... more

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Braunschweig
    Inter-library loan:
    No inter-library loan

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Erfurt / Forschungsbibliothek Gotha, Universitätsbibliothek Erfurt
    Inter-library loan:
    No inter-library loan

    Location:
    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
    Inter-library loan:
    No inter-library loan

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Technische Universität Hamburg, Universitätsbibliothek
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    Location:
    Thüringer Universitäts- und Landesbibliothek
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    Fachhochschule Kiel, Zentralbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 301 (2013,143)
    Inter-library loan:
    No inter-library loan

     

    We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally

     
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (Array)
    Volltext (Array)
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781484381137
    Other identifier:
    Series: IMF working paper ; 13/143
    Subjects: Bankrisiko; Bilanzstrukturmanagement; Geldpolitik; Geldpolitische Transmission; Zins; USA
    Scope: Online-Ressource (40 S.), graph. Darst.
    Notes:

    Description based upon print version of record

    Cover; Contents; I. Introduction; II. A Simple Model of Interest Rates, Leverage, and Bank Risk Taking; III. Empirical Methodology; A. Regression Model of Bank Risk Taking; B. Financial Stability Considerations and Monetary Policy: Evidence from FOMC Minutes; IV. Data and Descriptive Statistics; A. Survey of Terms of Business Lending; B. Datasets and Variable Definitions; C. Descriptive Statistics of Main Variables; V. Empirical Results; A. Main Results; B. Robustness Checks; C. Long Periods with Low Interest Rates; VI. Conclusions; References; Figures; 1. Interest Rates and Bank Risk Taking

    Tables1. Summary Statistics; 2. Loan Risk Ratings and the Federal Funds Rate; 3. Loan Risk Ratings, the Federal Funds Rate, and Loan Characteristics; 4. Risk Ratings, the Federal Funds Rate, and Bank Capital; 5. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital for Loans Not Under Commitment; 6. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital in Small Banks; 7. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital in States Without Large Banks; 8. Loan Risk Rating, the Federal Funds Rate, and Bank Capital and State Cyclicality

    9. Loan Risk Ratings, the Federal Funds Rate, and Bank Capital during Periods of Bank Distress10. Loan Risk Ratings, Bank Capital, and Regional Monetary Policy Conditions; 11. Loan Risk Rating, the Federal Funds Rate, Bank Capital, and the State of the Economy; 12. Loan Risk Rating, Bank Capital, and Long Periods of Low Interest Rates; Appendix Table 1. Frequency of Keywords Appearing in FOMC Minutes