Unconventional policy may reduce bank resilience, BIS paper finds
QE had different effects on “core” and “periphery” eurozone countries, researchers say
Unconventional monetary policy may have reduced overall bank resilience in the eurozone, a Bank of International Settlements paper finds.
Fernando Avalos and Emmanuel C Mamatzakis use bank-level data of the size of loss-absorbing buffers to estimate bank resilience. They cross-reference the buffer’s relationship with unconventional monetary policy data.
The authors find that quantitative easing enhances bank-level resilience in “core” eurozone countries, such as France, Germany, Luxembourg
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