Valtioneuvos K.-A.Fagerholm 8/6 1970

Kirje 8.6.1970

Statsminister Mauno Koivisto 7. 1. 1970

Kirje

Chefredaktör Arvo Tuominen 23.4.1970 Tammerfors

Kirje

Statsrådet K.-A. Fagerholm 8.6.1970

Kirje

Akateemikko Mika Waltari 30/10 1970

Kirje 30.10.1970

Macroprudential policy, countercyclical bank capital buffers and credit supply: Evidence from the Spanish dynamic provisioning experiments

We analyze the impact of countercyclical capital buffers held by banks on the supplyof credit to firms and their subsequent performance. Spain introduced dynamicprovisioning unrelated to specific bank loan losses in 2000 and modified its formulaparameters in 2005 and 2008. In each case, individual banks were impacteddifferently. The resultant bank-specific shocks to capital buffers, coupled withcomprehensive bank-, firm-, loan-, and loan application-level data, allow us toidentify its impact on the supply of credit and on real activity. Our estimates showthat countercyclical dynamic provisioning smooths cycles in the supply of credit andin bad times upholds firm financing and performance.

Tasavallan Presidentin radio- ja TV-haastattelu 5.8.1970

Haastattelu

Pääjohtaja Erkki Tuuli 13/3 1970

Kirje 13.3.1970

Tasavallan Presidentin radio- ja televisiopuhe 31.7.1970

Puhe

Rouva Jutta Zilliacus 22/12 1970

Kirje 22.2.1979