Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/173762
Authors: 
Ferrari, Stijn
Pirovano, Mara
Rovira Kaltwasser, Pablo
Year of Publication: 
2016
Series/Report no.: 
Working Paper Research 306
Abstract: 
In December 2013 the National Bank of Belgium introduced a sectoral capital requirement aimed at strengthening the resilience of Belgian banks against adverse developments in the real estate market. This paper assesses the impact of this macroprudential measure on mortgage lending spreads. Our results indicate that affected banks reacted heterogeneously to the introduction of the measure. Specifically, mortgage-specialised and capital-constrained banks increase mortgage lending spreads by a greater amount. As expected, the impact of the measure on mortgage loan pricing has been rather modest in economic terms.
Subjects: 
Systemic risk
macroprudential policy
bank capital requirements
real estate
JEL: 
E44
E58
G21
G28
Document Type: 
Working Paper

Files in This Item:
File
Size
883.19 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.