In lands of foreign currency credit, bank lending channels run through?
| Autor: | Steven Ongena, Dzsamila Vonnák, Ibolya Schindele |
|---|---|
| Přispěvatelé: | University of Zurich, Ongena, Steven |
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Economics and Econometrics
Economics Social Sciences Bank balance-sheet channel 2002 Economics and Econometrics Monetary economics jel:G21 Foreign currency lending Bank credit Monetary policy Business & Economics 0502 economics and business Domestic bank ddc:330 050207 economics E51 050205 econometrics jel:E51 05 social sciences 10003 Department of Banking and Finance 330 Economics F3 Currency 2003 Finance jel:F3 G21 Finance Communication channel |
| Zdroj: | Journal of International Economics |
| Popis: | We study the impact of monetary policy on the supply of bank credit when bank lending is denominated in foreign currencies. Accessing a comprehensive supervisory dataset from Hungary, we find that the supply of bank credit in a foreign currency is less sensitive to changes in domestic monetary conditions than the equivalent supply in the domestic currency. Changes in foreign monetary conditions similarly affect bank lending more in the foreign than in the domestic currency. Hence when banks lend in multiple currencies the domestic bank lending channel is weakened and international bank lending channels become operational. |
| Databáze: | OpenAIRE |
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