International Banking Library

Author(s):Martin Kliem & Norbert Metiu Date:November, 2025 Abstract: Financial cycles, characterized by long-term fluctuations in credit and house prices, have profound implications for macro-financial stability. This study explores how systematic monetary policy can shape these cycles, offering insights into its potential to mitigate financial instability. Using U.S. data, we demonstrate that monetary policy can dampen[…]

Author(s):Serkan Arslanalp, Barry Eichengreen & Chima Simpson-Bell Date:November, 2025 Abstract: We document some underappreciated aspects of the recent evolution of the international reserve system. These include the growing share of gold in global central bank reserves, the continuing emergence of nontraditional reserve currencies, and the stalling share of renminbi in reserves. These trends are consistent[…]

Author(s):Sarah Quincy & Chenzi Xu Date:November, 2025 Abstract: We study the long-run effects of the first wave of U.S. banking market integration on capital mobility and manufacturing productivity. Using newly digitized bank and branch balance sheet data matched to state and county panels, we provide direct evidence that branching produced lasting productivity gains without aggregate[…]

Author(s):Giovanni Covi, Maren Froemel, Dennis Reinhardt and Nora Wegner Date:October 31, 2025 Abstract: How do banks respond to transition risk and which mechanisms drive this response? We shed new light on this question using data on granular international large exposures of UK banks. Climate policy is the main source of transition risk we use. We[…]

Author(s):Olivier De Jonghe et al. Date:November, 2025 Abstract: We study heterogeneity in households’ credit across nine European countries (Belgium, Spain, Hungary, Ireland, Italy, Latvia, Lithuania, Portugal, and Slovakia) during 2022-2024 using granular credit register data. We first document substantial between- and within-country variation in mortgage and consumer lending by borrower age, loan maturity, and interest[…]