Nové trendy v bankovnictví a důsledky pro monetární politiku v čase finanční krize

Title in English New Trends in Banking and its Consequences for Monetary Policy in Times of financial crisis


Year of publication 2015
Type Article in Proceedings
Conference Hradecké ekonomické dny 2015, Sborník recenzovaných příspěvků, Díl I.
MU Faculty or unit

Faculty of Economics and Administration

Field Economy
Keywords market-based finance; bank funding model; banking balances; monetary policy
Description There were important changes in bank financing models in USA and Eurozone during the last two decades. These concern the relative decline of deposits in comparison to wholesale and short term financing via the money markets. Important factors here were securitization and repo financing. This helped to significant increases of banks’ balances and their interconnection through money markets. These new trends brought also new consequences. As banks shifted their business from traditional lending to firms and holding deposits they oriented toward more risky activities. And as banks became larger and more interconnected there arose systemic risk. These risks were revealed when the financial crisis hit. Fed and ECB monetary policy reaction differed with respect to different institutional orders.
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