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Wholesale Bank Funding, Capital Requirements and Credit Rationing

Wholesale Bank Funding, Capital Requirements and Credit Rationing by Itai Agur
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This paper analyzes how different types of bank funding affect the extent to which banks ration credit to borrowers, and the impact that capital requirements have on that rationing. Using an extension of the standard Stiglitz-Weiss model of credit rationing, unsecured wholesale finance is shown to amplify the credit market impact of capital requirements as compared to funding by retail depositors. Unsecured finance surged in the pre-crisis years, but is increasingly replaced by secured funding. The collateralization of wholesale funding is found to expand the extent of credit rationing.
International Monetary Fund; January 2013
22 pages; ISBN 9781475594829
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Title: Wholesale Bank Funding, Capital Requirements and Credit Rationing
Author: Itai Agur
 
ISBNs
1475594828
9781475569858
9781475571622
9781475594829