How Does the NSFR Regulatory Constraint Affect Profitability and Lending? Evidence From EU Banks
研究了欧盟187家银行中净稳定资金比率（NSFR）流动性要求对盈利能力和贷款活动的影响，发现更高的NSFR水平能逐步提升盈利能力和资产质量，并支持贷款增长。
ABSTRACT This paper analyzes the relationship between long‐term liquidity regulatory constraints, profitability, and lending activities in the EU banking sector. In particular, we examine how Net Stable Funding Ratio ( NSFR ) liquidity requirements impact the profitability and the core banking activities of 187 banks. Our findings reveal that higher NSFR levels improve profitability and asset quality over time rather than immediately. Additionally, NSFR supports loan growth, highlighting the duality of the Basel III liquidity requirement as a prudential constraint and a performance driver. This study highlights that well‐calibrated liquidity regulations can strengthen the financial system while ensuring a stable credit supply.