We add to the “bank lending channel” literature by considering how securitisation affects the impact of monetary policy on loan supply. One of the major challenges of this literature is that it not easy to disentangle among demand and supply factors particularly when aggregate data are used. To...
Bank lending channelMonetary policyThe dramatic increase in securitisation activity experienced in Europe in the years following the introduction of the euro has altered the liquidity, credit and maturity transformation role traditionally performed by banks. We claim that the changing role of credit ...
We claim that the changing role of banks from "originate and hold" to "originate, repackage and sell" has also modified banks' abilities to grant credit and the effectiveness of the bank lending channel of monetary policy. Using a large sample of European banks, we find that the use of ...
The Situation:The extraordinary circumstances of the COVID-19 pandemic and its unprecedented effects on the European economy triggered a call for immediate action by the European Parliament to give lending institutions the ability to channel sufficient funds to businesses to he...
Bank Lending and the Securitisation Process: A Comparative Analysis The role and the importance of banks in providing funds to the economy has been analysed from different perspectives with various possibilities for the future of bank lending. On the one hand, the long-term evolution of financial ...
"Securitisation and the bank lending channel", Banca d'Italia, Working Paper 653 (2007).Altunbas, Y., L. Gambacorta and D. Marques ( 2007), "Securitisation and the Bank Lending Channel," ECB Working Paper, 838.Securitisation and the Bank Lending Channel. Altunbas,Y,L Gambacorta,D....
The role and the importance of banks in providing funds to the economy has been analysed from different perspectives with various possibilities for the future of bank lending. On the one hand, the long-term evolution of financial systems through securitisation and financial innovation processes may ...
Securitisation and the bank lending channel The dramatic increase in securitisation activity has odified the functioning of credit markets by reducing the fundamental role of liquidity transformation... L Gambacorta,Y Altunbas,D Marques-Ibanez - 《European Economic Review》...