Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy

By Murillo Campello. 2002

429 citations recorded by the source corpus.

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Citations in the corpus

Stress tests and small business lending (2018, neutral): “…have large contractionary effects on the supply of lending (Bernanke, 1983; Bernanke and Lown, 1991; Kashyap and Stein, 1995, 2000; Houston, James, and Marcus, 1997; Peek and Rosengren, 1997, 2000; Campello, 2002; Calomiris and Mason, 2003; Calomiris and Wilson, 2004; Cetorelli and Goldberg, 2012).”
How does credit supply respond to monetary policy and bank minimum capital requirements (2016, background): “…work, Kashyap and Stein (2000) also find that banks with a greater stock of liquidity tend to react less to an equivalent change in monetary policy (see also Campello 2002, and the discussions in Peek and Rosengreen 1995a, 1995b, 1997, 2000 of differential adjustment of banks to shocks to capital).”
Firm Balance Sheets and Monetary Policy Transmission (2007, positive): “In this vein, recent papers show that the lending of small subsidiaries of large BHCs is less sensitive to monetary contractions than the lending of comparable small, independent banks (see Ashcraft, 2001; Campello, 2002).”
The Effects of Quantitative Easing on Bank Lending Behavior (2017, neutral): “Analogously, Campello (2002) provide evidence that contractionary monetary policy reduces the amount of loans made by banks that are unrelated to a large banking group.”
How to Design a Contingent Convertible Debt Requirement That Helps Solve Our Too-Big-to-Fail Problem (2013, background): “…Bernanke (1983), Bernanke and Lown (1991), Kashyap and Stein (1995 and 2000), Houston, James, and Marcus (1997), Peek and Rosengren (1997 and 2000), Campello (2002), Calomiris and Mason (2003), Calomiris and Wilson (2004), and Cetorelli and Goldberg (2009). pay off—apart from an appeal for a…”
The Real Effects of Asset Market Bubbles: Loan- and Firm-Level Evidence of a Lending Channel (2007, neutral): “Dasgupta and Sengupta (2004) show that, in a multi-period setting, if firms anticipate being credit constrained in the future, an increase in liquid balances may make them more conservative in investment choices.”
Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area (2001, positive): “19 A related idea has been documented for the US in Campello (2002). He shows that internal capital markets in financial conglomerates can dampen bank lending channel effects to some extent.”
The Role of Securitization in Bank Liquidity and Funding Management (2011, methodology): “The existing literature shows that the availability of additional internal (Kashyap and Stein, 2000) and external (Campello, 2002; Ashcraft, 2006) sources of funds partially alleviates the effect of restrictions in availability of funds on bank loan supply.”