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  1. Monetary Policy Transmission Through Online Banks
    Autor*in: Erel, Isil; Liebersohn, Jack; Yannelis, Constantine; Earnest, Samuel
    Erschienen: [2023]
    Verlag:  SSRN, [S.l.]

    Financial technology has been reshaping commercial banking. It has the potential to radically alter the transmission of monetary policy, by lowering search costs and expanding bank markets. This paper studies the reaction of online banks to changes... mehr

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    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    Financial technology has been reshaping commercial banking. It has the potential to radically alter the transmission of monetary policy, by lowering search costs and expanding bank markets. This paper studies the reaction of online banks to changes in federal fund rates. We find that these banks increase rates that they offer on deposits significantly more than traditional banks do. A 100 basis points increase in federal fund rate leads to a 30 basis points larger increase in rates of online banks. Consistent with the rate movements, online bank deposits experience inflows, while traditional banks experience outflows during monetary tightening of 2022. The findings are consistent across banking markets of different competitiveness and demographics. Our findings shed new light on the role of online banks in interest rate pass-through and deposit channel of monetary policy

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Fisher College of Business Working Paper ; No. 2023-03-015
    Schlagworte: Electronic Banking; Geldpolitik; Geldpolitische Transmission; USA; Financial Technology; FinTech; Digitalization; Passtrough; Commercial Banks; Deposit Channel
    Weitere Schlagworte: Array
    Umfang: 1 Online-Ressource (57 p)
    Bemerkung(en):

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 25, 2023 erstellt