BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//132.216.98.100//NONSGML kigkonsult.se iCalcreator 2.20.4//
BEGIN:VEVENT
UID:20251011T105657EDT-8054Sj6Gdc@132.216.98.100
DTSTAMP:20251011T145657Z
DESCRIPTION:Basile Dubois\n\nToulouse School of Economics \n\nBanking under
  large excess reserves\n\nDate: Friday\, January 17\, 2025\n	Time: 10:30 AM
  - 11:45 AM\n	Location: Bronfman building\, Room 245\n\nAll are cordially i
 nvited to attend.\n\n\nAbstract\n\nWe examine the effects of quantitative 
 easing (QE) on bank lending in the Eurozone. QE has substantially increase
 d central bank reserves held by commercial banks and raised the volume of 
 short-term wholesale deposits\, which made bank funding less stable. Becau
 se of Basel III regulation\, large volumes of excess reserves and short-te
 rm wholesale deposits curtail bank lending. We develop a structural model 
 incorporating imperfect competition in credit and deposit markets and regu
 latory costs that escalate as banks approach minimum requirements. This fr
 amework allows us to quantify the cost of specific regulatory constraints 
 and assess how excess reserves contribute to regulatory costs. In France\,
  QE increased the marginal cost of long-term lending by 16 basis points in
  Q4 2021. Counterfactual analysis indicates that maintaining reserves at t
 heir 2019 level of 2 trillion euros instead of 4 trillion euros would have
  boosted aggregate bank lending by approximately 5% in Q4 2021.\n
DTSTART:20250117T153000Z
DTEND:20250117T164500Z
LOCATION:Room 245\, Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001
  rue Sherbrooke Ouest
SUMMARY:Finance Area Seminar: Basile Dubois
URL:/desautels/channels/event/finance-area-seminar-bas
 ile-dubois-362559
END:VEVENT
END:VCALENDAR