Earticle

초록

영어

This paper examines how wholesale funding affects the extent to which banks supply credit to their borrowers depending on macroeconomic conditions. We find that banks relying more heavily on wholesale funds provided more credit during the pre-crisis period. This result implies that the increase in credit supply by high wholesale-funded banks led to the lending boom, and thus the increased the financial fragility in the banking system during the boom. High wholesale-funded banks, however, cut their lending more significantly during the crisis, suggesting that they contributed to the severe credit crunch. We also find that riskier banks with high wholesale dependence increased risky lending during the crisis and post-crisis periods.

목차

Abstract
 1. Introduction
 2. Descriptive Analysis of the Relationship between Bank Funding Structure and Credit Supply
 3. Data and Econometric Methods
  3.1 Data
  3.2 Methodology and Variables
 4. Empirical Results
  4.1 Relationship between Credit Supply and Wholesale Funding
  4.2 Controlling for the Impact of the TARP
  4.3 Relationship between Credit Supply, Wholesale Funding, and Bank Risk
 5. Robustness Checks
 6. Conclusion
 References

키워드

저자

• Sung Wook Joh [ Seoul National University ]
• Jeongsim Kim [ Sungkyunkwan University ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330