THE IMPACT OF FHLB ADVANCES ON BANK HOLDING COMPANY LENDING OVER THE CREDIT CYCLE

被引：1

作者：

Brewer, Elijah, III ^{[1
,2
]}

Jackson, William E., III ^{[3
]}

Mondschean, Thomas S. ^{[1
]}

机构：

[1] Depaul Univ, Chicago, IL 60604 USA

[2] Fed Reserve Bank Chicago, Chicago, IL 60604 USA

[3] Univ Alabama, Tuscaloosa, AL 35487 USA

来源：

JOURNAL OF FINANCIAL RESEARCH | 2018年 / 41卷 / 04期

关键词：

CAPITAL-MARKET FRICTIONS; DERIVATIVES;

D O I：

10.1111/jfir.12162

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We examine the sensitivity of bank holding company loan growth to the growth in funding obtained through the Federal Home Loan Bank (FHLB) advances program. FHLB advances are a low-cost funding source that banking organizations may substitute for funds drawn out of the financial system during periods of tight monetary policy or financial stress. This may be especially relevant for community banking organizations that have relatively less access to wholesale funding sources. Our findings show that FHLB advances provide banking organizations with some liquidity protection that reduces the impact of financial market distress and tight monetary policy on loan growth.

引用

页码：415 / 443

页数：29

共 22 条

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