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

@inproceedings{Jimnez2012MacroprudentialP,
  title={Macroprudential policy , countercyclical bank capital buffers and credit supply : Evidence from the Spanish dynamic provisioning experiments},
  author={Gabriel Almendrales Jim{\'e}nez and Steven Ongena and Jos{\'e} Luis Peydr{\'o} and Jes{\'u}s Saurina},
  year={2012}
}
We analyze the impact of the countercyclical capital buffers held by banks on the supply of credit to firms and their subsequent performance. Countercyclical ‘dynamic’ provisioning unrelated to specific loan losses was introduced in Spain in 2000, and modified in 2005 and 2008. The resultant bank-specific shocks to capital buffers, combined with the financial crisis that shocked banks according to their available pre-crisis buffers, underpin our identification strategy. Our estimates from… CONTINUE READING

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