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\"Low-For-Long\" Interest Rates and Banks' Interest Margins and Profitability : Cross-Country Evidence

Citations

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Cited by:

  1. Christoph Memmel, 2018. "Why Do Banks Bear Interest Rate Risk?," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 70(3), pages 231-253, July.
  2. Marcin Borsuk, 2019. "Forecasting the Net Interest Margin and Loan Loss Provision Ratio of Banks in Various Economic Scenarios: Evidence from Poland," Russian Journal of Money and Finance, Bank of Russia, vol. 78(1), pages 89-106, March.
  3. Simoens, Mathieu & Vennet, Rudi Vander, 2021. "Bank performance in Europe and the US: A divergence in market-to-book ratios," Finance Research Letters, Elsevier, vol. 40(C).
  4. Altavilla, Carlo & Boucinha, Miguel & Peydró, José-Luis, 2018. "Monetary policy and bank profitability in a low interest rate environment," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 33(96), pages 531-586.
  5. Nimrod Segev & Sigal Ribon & Michael Kahn & Jakob Haan, 2024. "Low Interest Rates and Banks’ Interest Margins: Does Deposit Market Concentration Matter?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 65(2), pages 189-218, June.
  6. Boungou, Whelsy & Hubert, Paul, 2021. "The channels of banks’ response to negative interest rates," Journal of Economic Dynamics and Control, Elsevier, vol. 131(C).
  7. Javier Eliecer Pirateque-Niño & Daniela Rodríguez-Novoa & José Hernán Piñeros-Gordo, 2022. "Does monetary policy affect the net interest margin of credit institutions? Evidence from Colombia," Borradores de Economia 1197, Banco de la Republica de Colombia.
  8. Whelsy Boungou, 2019. "Negative Interest Rates, Bank Profitability and Risk-taking," Working Papers hal-03456106, HAL.
  9. Saibal Ghosh, 2023. "Stability versus soundness: what matters for women central bank governors?," Economic Change and Restructuring, Springer, vol. 56(4), pages 2315-2338, August.
  10. Klein, Melanie, 2020. "Implications of negative interest rates for the net interest margin and lending of euro area banks," Discussion Papers 10/2020, Deutsche Bundesbank.
  11. Jorge E. Galán, 2021. "CREWS: a CAMELS-based early warning system of systemic risk in the banking sector," Occasional Papers 2132, Banco de España.
  12. Dräger Vanessa & Heckmann-Draisbach Lotta & Memmel Christoph, 2021. "Interest and credit risk management in German banks: Evidence from a quantitative survey," German Economic Review, De Gruyter, vol. 22(1), pages 63-95, February.
  13. Anthony Brassil & Jon Cheshire & Joseph Muscatello, 2018. "The Transmission of Monetary Policy through Banks' Balance Sheets," RBA Annual Conference Volume (Discontinued), in: John Simon & Maxwell Sutton (ed.),Central Bank Frameworks: Evolution or Revolution?, Reserve Bank of Australia.
  14. Khan, Ashraf & Hassan, M. Kabir & Paltrinieri, Andrea & Bahoo, Salman, 2021. "Trade, financial openness and dual banking economies: Evidence from GCC Region," Journal of Multinational Financial Management, Elsevier, vol. 62(C).
  15. Buchholz, Manuel & Schmidt, Kirsten & Tonzer, Lena, 2020. "Do conventional monetary policy instruments matter in unconventional times?," Journal of Banking & Finance, Elsevier, vol. 118(C).
  16. Christian Pfister & Jean-Guillaume Sahuc, 2020. "Unconventional monetary policies: A stock-taking exercise," Revue d'économie politique, Dalloz, vol. 130(2), pages 137-169.
  17. Van den Heuvel, Skander J., 2021. "Comment on “Low Interest Rates and Risk Incentives for Banks with Market Power,” by Whited, Wu, and Xiao," Journal of Monetary Economics, Elsevier, vol. 121(C), pages 175-179.
  18. Wischnewsky Arina & Neuenkirch Matthias, 2021. "Shadow banks and the risk-taking channel of monetary policy transmission in the euro area," German Economic Review, De Gruyter, vol. 22(1), pages 97-128, February.
  19. Darracq Pariès, Matthieu & Kok, Christoffer & Rottner, Matthias, 2023. "Reversal interest rate and macroprudential policy," European Economic Review, Elsevier, vol. 159(C).
  20. Durguti Esat A., 2020. "Challenges of Banking Profitability in Eurozone Countries: Analysis of Specific and Macroeconomic Factors," Naše gospodarstvo/Our economy, Sciendo, vol. 66(4), pages 1-10, December.
  21. Andreas Dombret & Yalin Gündüz & Jörg Rocholl, 2019. "Will German Banks Earn Their Cost Of Capital?," Contemporary Economic Policy, Western Economic Association International, vol. 37(1), pages 156-169, January.
  22. Dan Costin NIȚESCU & Cristian ANGHEL, 2023. "Impact of Macroeconomic and Banking Indicators on Lending Rates - A Global Perspective," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 64-77, March.
  23. Bruno de Menna, 2021. "The Joint Impact of Bank Capital and Funding Liquidity on the Monetary Policy's Risk-Taking Channel," Working Papers hal-03138724, HAL.
  24. Elien Meuleman & Rudi Vander Vennet, 2022. "Macroprudential Policy, Monetary Policy, and Euro Zone Bank Risk," International Journal of Central Banking, International Journal of Central Banking, vol. 18(4), pages 1-52, October.
  25. Danilo Liberati & Francesco Vercelli, 2019. "As long as the bank gains: expanding the retail distribution activity," Questioni di Economia e Finanza (Occasional Papers) 510, Bank of Italy, Economic Research and International Relations Area.
  26. Francesco Caloia & David-Jan Jansen, 2021. "Flood risk and financial stability: Evidence from a stress test for the Netherlands," Working Papers 730, DNB.
  27. B. De Backer & M. Deroose & Ch. Van Nieuwenhuyze, 2019. "Is a recession imminent? The signal of the yield curve," Economic Review, National Bank of Belgium, issue i, pages 69-93, June.
  28. Cao, Jin & Dinger, Valeriya & Gómez, Tomás & Gric, Zuzana & Hodula, Martin & Jara, Alejandro & Juelsrud, Ragnar & Liaudinskas, Karolis & Malovaná, Simona & Terajima, Yaz, 2023. "Monetary policy spillover to small open economies: Is the transmission different under low interest rates?," Journal of Financial Stability, Elsevier, vol. 65(C).
  29. John Ammer & John Rogers & Gang Wang & Yang Yu, 2020. "Monetary Policy Expectations, Fund Managers, and Fund Returns: Evidence from China," International Finance Discussion Papers 1285, Board of Governors of the Federal Reserve System (U.S.).
  30. Argimon, Isabel & Danton, Jayson M. & de Haan, Jakob & Rodriguez-Martin, Javier & Rodriguez-Moreno, Maria, 2023. "Low interest rates and banks’ interest margins: Does belonging to a banking group matter?," Journal of Banking & Finance, Elsevier, vol. 154(C).
  31. Cynthia Balloch & Yann Koby & Mauricio Ulate, 2022. "Making Sense of Negative Nominal Interest Rates," Working Paper Series 2022-12, Federal Reserve Bank of San Francisco.
  32. Paul, Pascal, 2023. "Banks, maturity transformation, and monetary policy," Journal of Financial Intermediation, Elsevier, vol. 53(C).
  33. Bruno de Menna, 2021. "Monetary Policy, Credit Risk, and Profitability: The Influence of Relationship Lending on Cooperative Banks' Performance," Working Papers hal-03138738, HAL.
  34. Hayo, Bernd & Henseler, Kai & Rapp, Marc Steffen, 2019. "Estimating the monetary policy interest-rate-to-performance sensitivity of the European banking sector at the zero lower bound," Finance Research Letters, Elsevier, vol. 31(C).
  35. Pitabas Mohanty & Supriti Mishra, 2021. "Assessing the impact of COVID-19 on the valuation of Indian companies using a financial model," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 18(9), pages 2133-2151, August.
  36. Kumhof, Michael & Wang, Xuan, 2021. "Banks, money, and the zero lower bound on deposit rates," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
  37. Schmidt, Jörg, 2020. "Risk, asset pricing and monetary policy transmission in Europe: Evidence from a threshold-VAR approach," Journal of International Money and Finance, Elsevier, vol. 109(C).
  38. Nicolas Soenen & Rudi Vander Vennet, 2020. "ECB Monetary Policy and Bank Default Risk," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 20/997, Ghent University, Faculty of Economics and Business Administration.
  39. Jac C. Heckelman & Bonnie Wilson, 2021. "Targeting inflation targeting: the influence of interest groups," Public Choice, Springer, vol. 189(3), pages 533-554, December.
  40. Soenen, Nicolas & Vander Vennet, Rudi, 2022. "ECB monetary policy and bank default risk☆," Journal of International Money and Finance, Elsevier, vol. 122(C).
  41. Paula Cruz-García & Juan Fernández de Guevara & Joaquín Maudos, 2019. "Determinants of bank’s interest margin in the aftermath of the crisis: the effect of interest rates and the yield curve slope," Empirical Economics, Springer, vol. 56(1), pages 341-365, January.
  42. Joseph Abadi & Markus Brunnermeier & Yann Koby, 2023. "The Reversal Interest Rate," American Economic Review, American Economic Association, vol. 113(8), pages 2084-2120, August.
  43. Nevin, Ciarán, 2018. "Irish retail bank profitability 2003-20018," Financial Stability Notes 10-18, Central Bank of Ireland.
  44. Molyneux, Philip & Reghezza, Alessio & Xie, Ru, 2019. "Bank margins and profits in a world of negative rates," Journal of Banking & Finance, Elsevier, vol. 107(C), pages 1-1.
  45. Freriks, Jorien & Kakes, Jan, 2024. "Lessons from low interest rate policy: How did euro area banks respond?," Journal of International Money and Finance, Elsevier, vol. 146(C).
  46. Neuenkirch, Matthias & Nöckel, Matthias, 2018. "The risk-taking channel of monetary policy transmission in the euro area," Journal of Banking & Finance, Elsevier, vol. 93(C), pages 71-91.
  47. English, William B. & Van den Heuvel, Skander J. & Zakrajšek, Egon, 2018. "Interest rate risk and bank equity valuations," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 80-97.
  48. Brana, Sophie & Campmas, Alexandra & Lapteacru, Ion, 2019. "(Un)Conventional monetary policy and bank risk-taking: A nonlinear relationship," Economic Modelling, Elsevier, vol. 81(C), pages 576-593.
  49. Dang, Van Dan & Huynh, Japan, 2022. "Monetary policy and bank performance: The role of business models," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
  50. Gabriel Zsurkis, 2022. "Determinants of cost of equity for listed euro area banks," Working Papers w202209, Banco de Portugal, Economics and Research Department.
  51. Bank for International Settlements, 2019. "Unconventional monetary policy tools: a cross-country analysis," CGFS Papers, Bank for International Settlements, number 63, december.
  52. Raymond F. D. D. Chaudron & Leo Haan & Marco Hoeberichts, 2023. "Banks’ Net Interest Income from Maturity Transformation and Other Interest Income: Communicating Vessels?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 63(1), pages 35-62, February.
  53. Lamers, Martien & Present, Thomas & Vander Vennet, Rudi, 2022. "European bank profitability: The great convergence?," Finance Research Letters, Elsevier, vol. 49(C).
  54. Martin Hodula, 2019. "Monetary Policy and Shadow Banking: Trapped between a Rock and a Hard Place," Working Papers 2019/5, Czech National Bank.
  55. Nevin, Ciarán, 2018. "Irish retail bank profitability 2003-20018," Financial Stability Notes 10/FS/18, Central Bank of Ireland.
  56. Adachi-Sato, Meg & Vithessonthi, Chaiporn, 2021. "Bank risk-taking and corporate investment: Evidence from the Global Financial Crisis of 2007–2009," Global Finance Journal, Elsevier, vol. 49(C).
  57. John Ammer & Alexandra Tabova & Stijn Claessens, 2018. "Searching for Yield Abroad: Risk-Taking through Foreign Investment in U.S. Bonds," 2018 Meeting Papers 960, Society for Economic Dynamics.
  58. Bats, Joost V. & Giuliodori, Massimo & Houben, Aerdt C.F.J., 2023. "Monetary policy effects in times of negative interest rates: What do bank stock prices tell us?," Journal of Financial Intermediation, Elsevier, vol. 53(C).
  59. Memmel, Christoph & Heckmann-Draisbach, Lotta, 2023. "Banks' net interest margin and changes in the term structure," Discussion Papers 11/2023, Deutsche Bundesbank.
  60. Heider, Florian & Leonello, Agnese, 2021. "Monetary Policy in a Low Interest Rate Environment: Reversal Rate and Risk-Taking," Working Paper Series 2593, European Central Bank.
  61. Riccardo Ferretti & Giovanni Gallo & Andrea Landi & Valeria Venturelli, 2018. "Market-Book Ratios of European Banks: What Does Explain the Structural Fall?," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0065, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
  62. Jan Willem van den End & Paul Konietschke & Anna Samarina & Irina M. Stanga, 2020. "Macroeconomic reversal rate: evidence from a nonlinear IS-curve," Working Papers 684, DNB.
  63. Julián Caballero & Alexis Maurin & Philip Wooldridge & Dora Xia, 2023. "Interest rate risk management by EME banks," BIS Quarterly Review, Bank for International Settlements, September.
  64. Jakob Lichtner, Marcus Riekeberg, Friedrich Thie?en, Thomas Maurer, 2018. "Evaluation of Banks' Interest Rate Risk: An Alternative Approach," Applied Economics and Finance, Redfame publishing, vol. 5(6), pages 111-125, November.
  65. Gardó, Sándor & Klaus, Benjamin, 2020. "Overcapacities in banking: Measurement, trends and determinants," Economic Modelling, Elsevier, vol. 91(C), pages 819-834.
  66. Mansor H. Ibrahim & Siong Hook Law, 2019. "Financial Intermediation Costs In A Dual Banking System: The Role Of Islamic Banking," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 22(4), pages 531-552, December.
  67. Martin Brown, 2020. "Negative Interest Rates and Bank Lending," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 21(01), pages 18-23, April.
  68. Ampudia, Miguel & Van den Heuvel, Skander J., 2022. "Monetary Policy and Bank Equity Values in a Time of Low and Negative Interest Rates," Journal of Monetary Economics, Elsevier, vol. 130(C), pages 49-67.
  69. Óscar Arce & Miguel García-Posada & Sergio Mayordomo & Steven Ongena, 2018. "Adapting lending policies in a “negative-for-long” scenario (Updated October 2020)," Working Papers 1832, Banco de España, revised Oct 2020.
  70. Chen, Qianying & Katagiri, Mitsuru & Surti, Jay, 2022. "Monetary surprises and bank equity valuation with prolonged low interest rates," Finance Research Letters, Elsevier, vol. 47(PA).
  71. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920, February.
  72. Lopez, Jose A. & Rose, Andrew K. & Spiegel, Mark M., 2020. "Why have negative nominal interest rates had such a small effect on bank performance? Cross country evidence," European Economic Review, Elsevier, vol. 124(C).
  73. Philip Molyneux & Alessio Reghezza & Chiara Torriero & Jonathan Williams, 2021. "Banks' noninterest income and securities holdings in a low interest rate environment: The case of Italy," European Financial Management, European Financial Management Association, vol. 27(1), pages 98-119, January.
  74. John Ammer & Alexandra Tabova & Caleb Wroblewski, 2018. "Searching for yield abroad: risk-taking through foreign investment in U.S. bonds," BIS Working Papers 687, Bank for International Settlements.
  75. Borys Grochulski & Daniel Schwam & Yuzhe Zhang, 2018. "Cyclical Properties of Bank Margins: Small versus Large Banks," Economic Quarterly, Federal Reserve Bank of Richmond, issue 1Q, pages 1-33.
  76. Marc Blatter & Andreas Fuster, 2022. "Scale effects on efficiency and profitability in the Swiss banking sector," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 158(1), pages 1-24, December.
  77. Sá, Ana Isabel & Jorge, José, 2019. "Does the deposits channel work under a low interest rate environment?," Economics Letters, Elsevier, vol. 185(C).
  78. policy, Work stream on macroprudential & Albertazzi, Ugo & Martin, Alberto & Assouan, Emmanuelle & Tristani, Oreste & Galati, Gabriele & Vlassopoulos, Thomas, 2021. "The role of financial stability considerations in monetary policy and the interaction with macroprudential policy in the euro area," Occasional Paper Series 272, European Central Bank.
  79. Junttila, Juha & Perttunen, Jukka & Raatikainen, Juhani, 2021. "Keep the faith in banking: New evidence for the effects of negative interest rates based on the case of Finnish cooperative banks," International Review of Financial Analysis, Elsevier, vol. 75(C).
  80. Saunders, Anthony & Schmid, Markus & Walter, Ingo, 2020. "Strategic scope and bank performance," Journal of Financial Stability, Elsevier, vol. 46(C).
  81. Campmas, Alexandra, 2020. "How do European banks portray the effect of policy interest rates and prudential behavior on profitability?," Research in International Business and Finance, Elsevier, vol. 51(C).
  82. Lathaporn Ratanavararak & Nasha Ananchotikul, 2018. "Bank Profitability and Risk-Taking in a Low Interest Rate Environment: The Case of Thailand," PIER Discussion Papers 89, Puey Ungphakorn Institute for Economic Research.
  83. Andrea Landi, Alex Sclip, Valeria Venturelli, 2019. "The effect of the Fed zero-lower bound announcementon bank profitability and diversification," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0079, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
  84. Garyn Tan, 2019. "Beyond the zero lower bound: negative policy rates and bank lending," DNB Working Papers 649, Netherlands Central Bank, Research Department.
  85. Emanuel Kohlscheen & Andrés Murcia Pabón & Juan Contreras, 2018. "Determinants of bank profitability in emerging markets," BIS Working Papers 686, Bank for International Settlements.
  86. van den End, Jan Willem & Konietschke, Paul & Samarina, Anna & Stanga, Irina M., 2021. "Macroeconomic reversal rate in a low interest rate environment," Working Paper Series 2620, European Central Bank.
  87. Qing L. Burke & Terry D. Warfield, 2021. "Bank interest rate risk management and valuation of earnings," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(3), pages 4287-4337, September.
  88. Bijoy Rakshit & Samaresh Bardhan, 2022. "Does Bank Efficiency Enhance Bank Performance? Empirical Evidence From Indian Banking," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(Special I), pages 103-124, March.
  89. Gabriele Angori & David Aristei & Manuela Gallo, 2019. "Determinants of Banks’ Net Interest Margin: Evidence from the Euro Area during the Crisis and Post-Crisis Period," Sustainability, MDPI, vol. 11(14), pages 1-20, July.
  90. Joerg Schmidt, 2019. "Risk, Asset Pricing and Monetary Policy Transmission in Europe: Evidence from a Threshold-VAR approach," MAGKS Papers on Economics 201928, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  91. Stefan Avdjiev & José María Serena Garralda, 2020. "Regulatory capital, market capital and risk taking in international bank lending," BIS Working Papers 912, Bank for International Settlements.
  92. Milan Šimáček, 2021. "Transmise měnové politiky a spodní efektivní hranice měnověpolitické úrokové sazby [Monetary Policy Transmission and Effective Lower Limit of Monetary Policy Interest Rates]," Politická ekonomie, Prague University of Economics and Business, vol. 2021(2), pages 227-253.
  93. B. Fernández-Olit & C. Ruza & M. Cuesta-González & M. Matilla-Garcia, 2019. "Banks and Financial Discrimination: What Can Be Learnt from the Spanish Experience?," Journal of Consumer Policy, Springer, vol. 42(2), pages 303-323, June.
  94. Wang, Ling, 2023. "Central bank asset purchases, banks’ risky security holdings and profitability: Macro and micro evidence from Japan and the U.S," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 347-364.
  95. Aquilante, Tommaso & Chowla, Shiv & Dacic, Nikola & Haldane, Andrew & Masolo, Riccardo & Schneider, Patrick & Seneca, Martin & Tatomir, Srdan, 2019. "Market power and monetary policy," Bank of England working papers 798, Bank of England.
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