Credit, Securitization and Monetary Policy : Watch Out for Unintended Consequences /
We show evidence that interest rate hikes slowdown loan growth but lead intermediation to migrate from banks' balance sheets to non-banks via increased securitization activity. As such, higher interest rates have the potential for unintended consequences; raising systemic risk rather than lower...
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| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2016.
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| Colección: | IMF Working Papers; Working Paper ;
No. 2016/076 |
| Acceso en línea: | Full text available on IMF |