BoE paper isolates loan supply impact of credit crunch

Bank of England
The Bank of England

Research published by the Bank of England sheds light on the loan supply effects of the UK’s credit crunch in 2008.

Lu Zhang, Arzu Uluc and Dirk Bezemer base their study, published as a staff working paper on March 3, on a “rich, tailor-made data set” comprising detailed information on 76 UK banks’ balance sheets.

The data allows them to examine how banks’ exposure to residential mortgages differed in both volume and characteristics before the crisis. “The combination of a quasi-natural

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