Effects of bank capital requirements on lending by banks and non-bank financial institutions
利用2011年欧洲银行管理局资本测试的德国信贷登记数据，研究发现银行资本要求提高后，保险公司、金融企业和保理公司等非银行金融机构以及非EBA银行相对EBA银行扩大了企业贷款，尤其在风险更高、竞争更激烈的借款人领域。
What is the impact of a sudden and sizeable increase in bank capital requirements on the lending activity by directly affected banks and by non-affected non-bank financial institutions (NBFIs)? To answer this question, we apply a difference-in-differences methodology around the capital exercise by the European Banking Authority (EBA) in 2011 with German credit register data. We find that insurance companies, financial enterprises, and factoring companies — but not leasing companies or very large NBFIs — and Non-EBA banks expand their corporate lending relative to EBA banks. In particular, NBFIs use the opportunity to expand their credit activities, in riskier and more competitive borrower segments.