Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/154336 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
ECB Working Paper No. 1903
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on banks’ internal ratings 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 (measured by the risk rating of new loans) is negatively associated with increases in short-term interest rates. This relationship is more pronounced in regions that are less in sync with the nationwide business cycle, and less pronounced for banks with relatively low capital or during periods of financial distress.
Schlagwörter: 
banks
interest rates
leverage
monetary policy
risk
JEL: 
E43
E52
G21
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-92-899-2056-8
Dokumentart: 
Working Paper

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