Procyclicality and Policy”

Also, the credit record data show no material return to aggressive mortgage lending or borrowing for any of the three credit score categories since the Financial Crisis,

∗ ex-ante: this policy creates collateral, boosts credit, investment and growth?. ∗ ex-post: this policy needs to pay for bailout, taxation lowers credit, investment

Because of the central role of the financial industry as a credit and capital intermediary, this can also influence macroeconomic developments. At worst, an upswing in the economy

2) Corresponds to Norges Bank´s credit indicator (C2).. The private and municipal sector is defined here as municipal government, non-financial enterprises and households.

Results for the Euro area indicate that, for business loans, a monetary policy shock has a stronger impact on GDP growth and inflation through (bank) credit supply — the bank

If there is a significant increase in credit risk, a Stage 2 or Stage 3 recognition must occur, which requires consideration of expected credit losses over the lifetime of the

9 More generally, the need to include bank contagion effects in realistic financial stability stress tests reinforces the Norges Bank’s need for (and the panel’s high

1 Norges Bank’s quarterly bank lending survey is a qualitative survey of banks’ credit standards and their assessments of credit demand.. The ten largest banks in the Norwegian