Tighter policy in large economies squeezes cross-border banking – paper

US monetary policy shocks play major role in bilateral bank lending – Bank of Spain paper

Lending money

Monetary tightening in advanced economies leads to lower cross-border bank lending, says research published by the Bank of Spain.

In International bank lending channel of monetary policy, Silvia Albrizio et al use data on exogenous shocks to monetary policy in systemically important economies. They work with local projections to estimate the effect these shocks have on bilateral cross-border bank lending.

“The results suggest that exogenous monetary policy tightening in systemically-important

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