Format:
39 S
,
graph. Darst
ISBN:
3933747791
Series Statement:
Discussion paper / Economic Research Centre of the Deutsche Bundesbank 11/01
Content:
This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse. Our VAR analysis shows that following a monetary contraction, the banking system as a whole attracts additional funds from foreign banks. Whereas small cooperative and savings banks do not seem to directly access the interbank market themselves, they do so indirectly through the head institutions of their sectors, i.e. the savings banks' and credit cooperative sector, respectively. The interbank flows within these two sectors allow small banks to access funds that might help them in keeping their loan portfolio relatively unaffected. This may explain why the evidence for a bank lending channel in Germany seems to be weaker compared to other countries, e.g. the US.
Note:
Zsfassung in dt. Sprache
Additional Edition:
Erscheint auch als Online-Ausgabe Ehrmann, Michael, 1968 - Interbank lending and monetary policy transmission Frankfurt am Main : Deutsche Bundesbank, 2001
Language:
English
Subjects:
Economics
Keywords:
Bank
;
Kreditaufnahme
;
Interbankgeschäft
;
Arbeitspapier
;
Graue Literatur
Author information:
Ehrmann, Michael 1968-
Author information:
Worms, Andreas 1965-
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