Credit easing
Lower growth follows credit booms with high-yield lending – paper
Lending standards in bond markets track banks’ credit standards
ECB’s corporate bond-buying had positive effect in Spain, research says
Stimulus reduced yields for non-financial firms and increased credit to smaller companies
Lower monthly quotas effective at preventing mortgage defaults
60% of US defaults during financial crisis caused by lack of ability to pay, paper finds
Norges Bank paper offers insights on when to ‘lean against the wind’
Norges Bank working paper investigates the extent monetary policies should actively aim at mitigating the build-up of financial imbalances; using rates to curb credit growth could lower output
Eurozone banks report further easing in credit standards
The net percentage of banks reporting easier credit standards continues to grow; ECB survey finds banks’ participation in TLTROs is mostly driven by profitability
Financial fragmentation persistent in face of loose monetary policy stance
ECB article provides evidence of heterogeneous interest rate pass-through in the four largest eurozone economies, based on new models
Chinese banks may face shadow finance credit crisis, say rating agencies
Strong links between the regulated and unregulated credit sectors in China due to the use of wealth management products and lending to shadow banks pose a systemic threat to Chinese banks
RBA minutes show rate cut decision made in spite of home loans growth
Australia's monetary policy decision-makers judged it was time to use ‘some of the scope' they have to loosen monetary policy, given the steady inflation outlook
Bank of England ups incentives for increased SME lending
BoE in conjunction with Treasury introduces new incentives in a bid to get credit to struggling small business sector
Monetary easing does not prompt crisis recovery, says BIS paper
Paper published by the Bank for International Settlements finds monetary easing does not help economic recovery following a financial crisis downturn; deleveraging produces more positive effects
Fed paper investigates shackling credit-fuelled booms
Researchers at San Francisco Fed model asset-driven credit growth; find restrictions on household borrowing the most effective tool to reduce excess volatility
UK Funding for Lending Scheme opens
Bank of England and UK Treasury’s Funding for Lending Scheme window opens to UK banks and building societies; institutions have 18 months to borrow cheaply under the arrangement
BoE reports mixed credit conditions
Bank of England’s quarterly ‘Trends in Lending’ shows lending to UK businesses contracted but consumer credit flows rose over the second quarter of 2012
Central Bank of Ireland paper weighs crisis impact on SME financing
Research technical paper assesses effect of economic, financial and debt crises in Europe on small and medium-sized enterprises’ access to credit; discusses impact of private debt overhang
ECB finds eurozone banks not restricting lending
Latest European Central Bank Lending Survey shows steep fall in demand for loans despite thaw in lending conditions
RBA governor posits positive outlook as rates remain unchanged
Domestic demand in 2011 was highest rate for four years, says Glenn Stevens; inflation and borrowing also at trend as Reserve Bank of Australia holds rates
UK banks miss 'Project Merlin' lending targets
Results of 'Project Merlin' show bank net lending fell in 2011; major banks missed targets for lending to smaller businesses
Thailand and China ease monetary policy
Thailand cuts benchmark rate and China lowers reserve ratio as eurozone crisis impact is felt in Asia; Thailand also keen to combat effects of devastating floods
BoJ doing all it can to bolster growth, says Shirakawa
Bank of Japan governor Masaaki Shirakawa points to central bank’s multiple efforts to boost activity
Posen: Bank’s next step should be ‘heavy duty’ credit easing
Bank of England’s Posen suggests different tack if UK’s recovery remains anaemic
New York: US recovery setback by unemployment figures
New York Fed president William Dudley describes sluggish recovery growth related to high unemployment
Lacker: Fed needs to offload risky assets first
Richmond Fed President tells audience MBS sales would reduce distortions in asset prices.
BoJ dissenters deemed measures "inappropriate"
Minutes show disagreements in Bank of Japan's top ranks as country returns to growth despite deep-seated problems
IMF: credit markets key to economic recovery
IMF study shows that a healthy financial sector is essential to a speedy recovery in the economy