UID:
almafu_9958120570502883
Umfang:
1 online resource (53 p.)
ISBN:
9786612846069
,
9781462303274
,
1462303277
,
9781455292929
,
1455292923
,
9781282846067
,
128284606X
,
9781455201143
,
1455201146
Serie:
IMF Working Papers
Inhalt:
The paper examines the slowdown of lending by large U.S. banks over the period 2007Q3 - 2009Q2, focusing on: (i) whether capital or liquidity was the binding constraint; (ii) factors influencing banks’ decision to hold capital; and (iii) their pricing behavior. Using quarterly data for the largest U.S. banks, the paper finds that capital, rather than liquidity, constrained lending. Banks took actions to increase capital by slowing lending and raising profit margins, not fully passing through the Federal Reserve’s interest rate cuts. Banks optimally choose capital based on the expected future demand for loans and the marginal cost of capital.
Anmerkung:
"May 2010."
,
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Data and Descriptive Statistics; 1. Selected Banking Indicators by Groups of Banks (percentages); 2. Selected Banking Indicators by Size of Bank Holding Company; 3. Selected Banking Indicators for Bank Holding Companies; III. Specification of the Empirical Tests; A. The Peek and Rosengren Test; B. The CC Test of the Choice of Capital; C. Capital Constraints, Interest Rates and Market Power; IV. Estimation Results; A. Bank Capital Constraints and Credit Growth; 4. Determinants of the Growth Rate of Bank Loans and Deposits
,
B. The Choice of Bank Capital5. Regressions for the Choice of Bank Capital; C. Tests of Monopoly Power; 6. Test of Monopoly Power; V. Conclusions; References; Footnotes
Sprache:
Englisch
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