|
|
|
|
| LEADER |
03210nmm a2200697 u 4500 |
| 001 |
EB000924157 |
| 003 |
EBX01000000000000000717753 |
| 005 |
00000000000000.0 |
| 007 |
cr||||||||||||||||||||| |
| 008 |
150128 ||| eng |
| 020 |
|
|
|a 9781484381137
|
| 100 |
1 |
|
|a Dell'Ariccia, Giovanni
|
| 245 |
0 |
0 |
|a Bank Leverage and Monetary Policy's Risk-Taking Channel
|b Evidence from the United States
|c Giovanni Dell'Ariccia, Luc Laeven, Gustavo Suarez
|
| 260 |
|
|
|a Washington, D.C.
|b International Monetary Fund
|c 2013
|
| 300 |
|
|
|a 41 pages
|
| 651 |
|
4 |
|a United States
|
| 653 |
|
|
|a Credit
|
| 653 |
|
|
|a Asset requirements
|
| 653 |
|
|
|a Income
|
| 653 |
|
|
|a Capital adequacy requirements
|
| 653 |
|
|
|a Banks
|
| 653 |
|
|
|a Finance
|
| 653 |
|
|
|a Industries: Financial Services
|
| 653 |
|
|
|a Banks and banking
|
| 653 |
|
|
|a Personal income
|
| 653 |
|
|
|a Mortgages
|
| 653 |
|
|
|a Personal Income, Wealth, and Their Distributions
|
| 653 |
|
|
|a National accounts
|
| 653 |
|
|
|a Money
|
| 653 |
|
|
|a Financial risk management
|
| 653 |
|
|
|a Capital and Ownership Structure
|
| 653 |
|
|
|a Goodwill
|
| 653 |
|
|
|a Macroeconomics
|
| 653 |
|
|
|a Bank credit
|
| 653 |
|
|
|a Banking
|
| 653 |
|
|
|a Financial Risk and Risk Management
|
| 653 |
|
|
|a Financing Policy
|
| 653 |
|
|
|a Depository Institutions
|
| 653 |
|
|
|a Monetary economics
|
| 653 |
|
|
|a Financial institutions
|
| 653 |
|
|
|a Value of Firms
|
| 653 |
|
|
|a Micro Finance Institutions
|
| 653 |
|
|
|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
|
| 653 |
|
|
|a Financial Institutions and Services: Government Policy and Regulation
|
| 653 |
|
|
|a Loans
|
| 653 |
|
|
|a Market risk
|
| 653 |
|
|
|a Banks and Banking
|
| 653 |
|
|
|a Financial regulation and supervision
|
| 653 |
|
|
|a Interest Rates: Determination, Term Structure, and Effects
|
| 653 |
|
|
|a Monetary Policy
|
| 653 |
|
|
|a Money and Monetary Policy
|
| 653 |
|
|
|a Financial services law & regulation
|
| 700 |
1 |
|
|a Laeven, Luc
|
| 700 |
1 |
|
|a Suarez, Gustavo
|
| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
| 989 |
|
|
|b IMF
|a International Monetary Fund
|
| 490 |
0 |
|
|a IMF Working Papers
|
| 028 |
5 |
0 |
|a 10.5089/9781484381137.001
|
| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2013/143/001.2013.issue-143-en.xml?cid=40642-com-dsp-marc
|x Verlag
|3 Volltext
|
| 082 |
0 |
|
|a 330
|
| 520 |
|
|
|a 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
|