The Expansion of Services in European Banking: Implications for Loan Pricing and Interest Margins
The Expansion of Services in European Banking: Implications for Loan Pricing and Interest Margins
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DOI：
10.1016/j.jbankfin.2007.09.025
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发表时间：
2008-11
影响因子：
3.7
通讯作者：
L. Lepetit;Emmanuelle Nys;Philippe Rous;Amine Tarazi
中科院分区：
文献类型：
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作者：
L. Lepetit;Emmanuelle Nys;Philippe Rous;Amine Tarazi
我们对1996-2002年间602家欧洲银行的研究调查了这些银行向收费服务领域的扩张如何影响它们的利差和贷款定价。我们发现，较高的佣金和手续费收入份额与较低的利润率和贷款利差有关。此外，佣金和手续费收入占比越高，银行贷款利差与贷款风险之间的联系就越弱。后一种结果与银行为贷款定价(或错误定价)以增加其他服务销售的猜测一致。这种亏损领头羊(或交叉销售)假设对银行监管和与(非银行)贷款人的竞争有影响。
Our study of 602 European banks over 1996–2002 investigates how the banks’ expansion into fee-based services has affected their interest margins and loan pricing. We find that higher income share from commissions and fees is associated with lower margins and loan spreads. The higher the commission and fee income share, moreover, the weaker the link between bank loan spreads and loan risk. The latter result is consistent with the conjecture that banks price (or misprice) loans to increase sales of other services. That loss leader (or cross selling) hypothesis has implications for bank regulation and competition with (non-bank) lenders.