Macroprudential measures and developments in bank funding costs

Ćehajić, Aida (avtor), Košak, Marko (avtor)

In this paper, we study how the use of macroprudential policy instruments is associated with bank funding costs. To accomplish this, we develop several macroprudential indices based on policy objectives and include different macroeconomic and bank-level variables, while we also separately analyse the cost of debt and overall cost of funding. Our analysis relies on bank-level data in 43 European countries for the period between 2000 and 2017, and a macroprudential policy dataset based on an IMF survey. The results show the activation of macro-prudential policies is chiefly related with lower bank funding costs, with this association being stronger for developed countries than emerging ones. The results also reveal positive links with certain macroprudential measures to bank cost of funding, offering further insight into the repercussions of calibrating and selecting macroprudential tools.

• Jezik: Angleški jezik
• Ključne besede: banking, finance, stability, macroprudential policy, bank funding costs, bank risk, financial stability
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Status publikacije: Objavljeno
• Različica publikacije: Objavljena publikacija
• Leto izida: 2021
• Št. strani: 23 str.
• Številčenje: Vol. 78, art. 101943
• PID: 20.500.12556/RUL-134037
• UDK: 336.71
• ISSN pri članku: 1057-5219
• DOI: 10.1016/j.irfa.2021.101943
• COBISS.SI-ID: 84194563
• Datum objave v RUL: 22.12.2021

Gradivo je del revije

• Naslov: International review of financial analysis
• Skrajšan naslov: Int. rev. financ. analy.
• Založnik: Elsevier
• ISSN: 1057-5219
• COBISS.SI-ID: 991954

Licence

• Licenca: CC BY-NC-ND 4.0, Creative Commons Priznanje avtorstva-Nekomercialno-Brez predelav 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by-nc-nd/4.0/deed.sl
• Opis: Najbolj omejujoča licenca Creative Commons. Uporabniki lahko prenesejo in delijo delo v nekomercialne namene in ga ne smejo uporabiti za nobene druge namene.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: bančništvo, finance, stabilnost

Projekti

• Financer: EC - European Commission
• Program financ.: Erasmus Mundus
• Številka projekta: 551984-EM-1-2014-1-ES-ERA MUNDUS-EMA21
• Naslov: Smart and Green technologies for innovative and sustainable societies in Western Balkans
• Akronim: Green-Tech-WB

• Financer: ARRS - Agencija za raziskovalno dejavnost Republike Slovenije
• Številka projekta: P5-0161
• Naslov: Izzivi vlagateljev, podjetij, finančnih institucij in države v negotovem evropskem gospodarskem okolju