Do Negative Interest Rates Make Banks Less Safe?
Do Negative Interest Rates Make Banks Less Safe?
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负利率会降低银行的安全性吗？
DOI：
10.2139/ssrn.2958763
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发表时间：
2017
期刊：
影响因子：
--
通讯作者：
B. Schwaab
中科院分区：
文献类型：
--
作者：
Federico Nucera;A. Lucas;Julia Schaumburg;B. Schwaab
我们研究了越来越负的中央银行政策利率对银行在金融危机中资本不足倾向（“SRisk”）的影响。我们发现，负利率的风险影响取决于银行的商业模式：收入来源多样化的大型银行被认为风险较低，而规模较小和更传统的银行被认为风险更高。政策利率降至零以下会引发与先前降息至零不同的SRisk反应。
We study the impact of increasingly negative central bank policy rates on banks’ propensity to become undercapitalized in a financial crisis (‘SRisk’). We find that the risk impact of negative rates depends on banks’ business models: Large banks with diversified income streams are perceived as less risky, while smaller and more traditional banks are perceived as more risky. Policy rate cuts below zero trigger different SRisk responses than an earlier cut to zero.