Loan types and the bank lending channel

Victoria Ivashina, Luc Laeven and Enrique Moral-Benito

No 2409, Working Paper Series from European Central Bank

Abstract: Using credit-registry data for Spain and Peru, we document that four main types of commercial credit—asset-based loans, cash-flow loans, trade finance and leasing—are easily identifiable and represent the bulk of corporate credit. We show that credit dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply shocks previously identified in the literature appear to be driven by individual loan types. The effects of monetary policy and the effects of the financial crisis propagating through banks’ balance sheets are primarily driven by cash-flow loans, whereas asset-based credit is mostly insensitive to these types of effects. JEL Classification: E5, G21

Keywords: bank credit; bank lending channel; credit registry; loan types (search for similar items in EconPapers)
Date: 2020-05
New Economics Papers: this item is included in nep-ban
Note: 261593
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

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Related works:
Journal Article: Loan types and the bank lending channel (2022)
Working Paper: Loan types and the bank lending channel (2020)
Working Paper: Loan Types and the Bank Lending Channel (2020)
Working Paper: Loan Types and the Bank Lending Channel (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20202409

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