Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/264576 
Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Journal of Money, Credit and Banking [ISSN:] 1538-4616 [Volume:] 54 [Issue:] 4 [Publisher:] Wiley Periodicals, Inc. [Place:] Hoboken, USA [Year:] 2021 [Pages:] 1123-1133
Verlag: 
Wiley Periodicals, Inc., Hoboken, USA
Zusammenfassung: 
Unconventional monetary policy measures like asset purchase programs aim to reduce certain securities' yield and alter financial institutions' investment behavior. These measures increase the institutions' market value of securities and add to their equity positions. We show that the extent of this recapitalization effect crucially depends on the securities' accounting and valuation methods, country‐level regulation, and maturity structure. We argue that future research needs to consider these factors when quantifying banks' recapitalization effects and consequent changes in banks' lending decisions to the real sector.
Schlagwörter: 
capital regulation
security valuation
unconventional monetary policy
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Dokumentart: 
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