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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | The Countercyclical Capital Buffer and the Composition of Bank Lending |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Journal of Financial Intermediation |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 1042-9573 |
| Volume | 52 |
| Page Range | 100965 |
| Date | 2022 |
| Abstract Text | Do targeted macroprudential measures impact non-targeted sectors too? We investigate the compositional changes in the supply of credit by Swiss banks, exploiting their differential exposure to the activation in 2013 of the countercyclical capital buffer (CCyB) which targeted banks’ exposure to residential mortgages. We find that the additional capital requirements resulting from the activation of the CCyB are associated with higher growth in banks’ commercial lending. While banks are lending more to all types of businesses, the new macroprudential policy benefits smaller and riskier businesses the most. However, the interest rates and other costs of obtaining credit for these firms rise as well. |
| Free access at | DOI |
| Official URL | https://doi.org/10.1016/j.jfi.2022.100965 |
| Related URLs |
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| Digital Object Identifier | 10.1016/j.jfi.2022.100965 |
| Other Identification Number | merlin-id:22243 |
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