Credit conditions
ECB paper models endogenous credit risk
Working paper discusses models of credit risk; authors argue that “feedback effects” have major implications for regulatory reform
IMF paper models wholesale funding impact on credit supply
Working paper looks at effect of bank wholesale funding during financial crisis; finds use of wholesale funds negatively impacted credit supply during the crisis
BoE’s Tucker discusses credit market lessons
Bank of England deputy governor Paul Tucker considers lessons learned from credit boom and bust; urges careful assessment of policies by monetary authorities
Central Bank of Brazil offers boost to auto industry
Reserve requirements for loans on automobile projects reduced; move releases R$18 billion for use in offering credit for vehicle purchases
IMF paper studies credit growth in the Philippines
Research analyses determinants of credit growth and interest margins in the Philippines and Asia; finds factors such as higher growth and lower inflation reduce net interest margins
IMF paper investigates capital inflows relationships with other factors
IMF researchers study determinants and inter-relationships between capital inflows, financial development and domestic investment in developing countries
Bernanke says stronger banks will lead to 'robust' economy
Fed chair outlines progress made by financial sector; says improved credit conditions will play a part in creating a robust economy in the US
ECB survey finds worsening borrowing conditions for SMEs
European Central Bank survey finds borrowing conditions for SMEs have ‘worsened considerably’ in past six months
IMF sounds warning over European deleveraging
Lagarde hopes to ‘significantly’ increase resources available to the IMF during spring meeting; Financial Stability Report also recognises need for increased firewall as deleveraging rages on in Europe
BIS working paper focuses on Asian credit booms
Bank for International Settlements research finds international credit booms foster domestic credit surges in developing Asian economies
Finnish research finds Chinese growth is restricted by capital constraints
Bank of Finland research finds that despite reforms, borrowing restrictions continue to dampen growth prospects for Chinese corporations
Irish governor discusses credit conditions
Patrick Honohan, governor of the Central Bank of Ireland, says credit conditions for SMEs are "tougher in Ireland than anywhere elsewhere in the euro area"
Emerging markets benefited from solid balance sheets, says BIS paper
Bank for International Settlements study says Latin American and Asian countries experienced more sustainable levels of credit growth due to healthy balance sheets pre-crisis
Rapid credit growth in Asia driven by domestic factors, says IMF paper
International Monetary Fund study says domestic monetary policy can play a pivotal role in managing credit growth in emerging Asian markets
High borrowing costs discourage Eastern European firms from tapping banks, says ECB paper
European Central Bank study says many firms in Eastern Europe are put off by the high interest rates charged by foreign banks for a loan
Policymakers can mitigate post-crises unemployment effects: Turkey’s Başçı
Central Bank of Turkey governor Erdem Başçı says declines in employment during crises can be reduced by introducing policies to ease firms’ borrowing costs
Non-performing loans pose severe risk to advanced economies: IMF paper
Fund study finds evidence of strong link between level of non-performing loans and macroeconomic activity in advanced economies
IMF paper on leaning against the wind in Latin America
Fund study says countercyclical instruments are an effective tool to restrain excessive credit growth in Latin American countries
Central Bank of Chile – Financial Stability Report (June 2011)
Central Bank of Chile June Financial Stability report identifies vulnerabilities in Chilean financial system
Zero-policy rates 'ill-serve' emerging markets: BIS's Caruana
Bank for International Settlements general manager Jaime Caruana says near-zero interest rates are a disservice to emerging market economy borrowers
RBA’s Battellino expects credit growth to remain subdued
Reserve Bank of Australia deputy governor Ric Battellino says credit growth expected to stay in single-digits
ECB – Euro Area Bank Lending Survey (April 2011)
European Central Bank April 2011 euro area bank lending survey reports moderate tightening of credit conditions in region
Bank of England – Trends in Lending (April 2011)
Bank of England’s Trends in Lending April 2011 report finds evidence of a contraction in UK bank lending
Crisis measures assisted financially distressed firms: IMF paper
Fund study says crisis recapitalisation policies helped provide financially dependent firms access to credit