International Prudential Policy Spillovers: A Global Perspective
结合BIS国际银行统计和IBRN审慎工具数据库，研究宏观审慎措施对国际贷款的影响，发现贷款价值比和本币准备金要求的变化显著影响跨境银行放贷，且银行资产负债表特征会调节这种效应。
We evaluate the We combine the BIS international banking statistics with the IBRN Prudential Instruments Database in a global study analyzing the effect of prudential measures on international lending. Our bilateral setting, which features multiple home and destination countries, allows us to simultaneously estimate both the international transmission and the local effects of such measures. We find that changes in macroprudential policy via loan-to-value limits and local-currency reserve requirements have a significant impact on international bank lending. Balance sheet characteristics play an important role in determining the strength of these effects, with better-capitalized banking systems and those with more liquid assets and less core deposit funding reacting more. Overall, our results suggest that the tightening of these macroprudential measures can be associated with international spillovers.