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RBA Glossary definition for central bank
central bank – A non-commercial bank, which may or may not be independent of government, which has some or all of the following functions: conduct monetary policy; oversee the stability of the financial system; issue currency notes; act as banker to the government; supervise financial institutions and regulate payments systems.
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The International Context
13 Dec 2022
RDP
2022-07
Many term funding schemes required the provision of collateral by the banks to mitigate financial risks to the central bank. ... These studies also generally used instrumental variables to account for endogeneity issues in the self-selection of banks
https://www.rba.gov.au/publications/rdp/2022/2022-07/the-international-context.html
The Term Funding Facility: Has It Encouraged Business Lending?
13 Dec 2022
RDP
2022-07
Many term funding schemes required the provision of collateral by the banks to mitigate financial risks to the central bank. ... These studies also generally used instrumental variables to account for endogeneity issues in the self-selection of banks
https://www.rba.gov.au/publications/rdp/2022/2022-07/full.html
The Term Funding Facility: Has It Encouraged Business Lending?
13 Dec 2022
RDP
2022-07
It achieved a key objective of providing banks with three-year low-cost funding and was available for drawdown until 30 June 2021. ... Using bank-level data and a difference-in-differences approach, we find no statistically significant evidence that the
https://www.rba.gov.au/publications/rdp/2022/2022-07.html
Appendix A: Data Description
13 Dec 2022
RDP
2022-07
15 banks. SME and large business credit outstanding. November 2019 and April 2021. ... bias (as these banks may have been more likely to increase lending anyway).
https://www.rba.gov.au/publications/rdp/2022/2022-07/appendix-a.html
Data
13 Dec 2022
RDP
2022-07
non-banks (finance providers that do not accept deposits, including finance companies and money market corporations). ... Aside from data reported to APRA through the EFS forms, we use RBA data on banks' self-securitised assets.
https://www.rba.gov.au/publications/rdp/2022/2022-07/data.html
Introduction
13 Dec 2022
RDP
2022-07
Figure 2: Lending Rates. Sources: APRA; RBA. The questions addressed in this paper have important policy implications for central banks. ... A wider range of central banks introduced or expanded term funding schemes in response to the COVID-19 pandemic.
https://www.rba.gov.au/publications/rdp/2022/2022-07/introduction.html
Conclusion
13 Dec 2022
RDP
2022-07
In addition, non-banks indirectly benefited from the take-up of the TFF, with the decline in bank bond issuance (largely owing to the TFF) contributing to a noticeable decline in ... Similarly, the decline in issuance also contributed to a decline in
https://www.rba.gov.au/publications/rdp/2022/2022-07/conclusion.html
Non-technical summary for ‘The Rise in Household Liquidity’
13 Dec 2022
RDP
2022-07
To address this, the Reserve Bank of Australia (RBA) – along with other central banks around the world – implemented policies to support economic activity. ... Other central banks had introduced similar policies (sometimes known as funding for
https://www.rba.gov.au/publications/rdp/2022/2022-07/non-technical-summary.html
The Term Funding Facility: Has It Encouraged Business Lending?
13 Dec 2022
RDP
2022-07
We would also like to thank Ben Jackman, Carl Schwartz, Chris Kent, Claudia Kwapil, John Simon, Jonathan Kearns, Kilian Rieder, Marion Kohler, Susan Black and seminar participants at the Reserve Bank ... The views expressed in this paper are those of the
https://www.rba.gov.au/publications/rdp/2022/2022-07/sections.html
Appendix B: Coefficient Figures
13 Dec 2022
RDP
2022-07
Fixed effects: bank, regression coefficient. Notes: Whiskers show 95 per cent confidence intervals. ... Figure B6: Weighted Regression – Bank Credit Growth to SMEs Relative to Large Businesses.
https://www.rba.gov.au/publications/rdp/2022/2022-07/appendix-b.html