文章基本信息

标题：Did the EBA Capital Exercise Cause a Credit Crunch in the Euro Area?
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作者：Jean-Stéphane Mésonnier ; Allen Monks
期刊名称：International Journal of Central Banking
印刷版ISSN：1815-4654
出版年度：2015
出版社：IJCB Publications Fulfillment
摘要：We exploit a unique monthly data set of euro-area bank balance sheets to document the impact of the EBA's 2011/12 capital exercise on bank lending.We find that banks in a banking group forced to increase its CT1 capital ratio by 1 percent had an annualized loan growth (over nine months) that was 1.2 percent lower than that of banks in unconstrained groups. We also find at the country level that banks that did not have to recapitalize did not substitute for more constrained lenders. Our results are of particular relevance for the decisions facing the new European Single Supervisory Mechanism