- Abstract:
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This paper presents a simple model of risk-averse banks that face uncertainty over funding conditions in the money market. It shows when increased funding uncertainty causes interest rates on loans and deposits to rise, while bank lending and bank profitability fall. It also finds that funding uncertainty typically dampens the rate of pass-through from changes in the central bank’s policy rate to market interest rates. These results help explain observed bank behaviour and reduced effectiv...
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- Volume:
- 481
- Series:
- Discussion paper series
- Publication date:
- 2010-01-01
- URN:
-
uuid:68ab6460-deb9-455d-be4d-6a46e1113c93
- Local pid:
- oai:economics.ouls.ox.ac.uk:14727
- Language:
- English
- Copyright date:
- 2010
Working paper
How do banks respond to increased funding uncertainty?
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