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This paper investigates the effect of monetary policy - especially unconventional monetary policy - on bank risk- taking behavior in Europe over the period 2000-2015.
, with the sustainable implementation of unconventional monetary policies, the effects are stronger below a certain threshold.
In the short run, the implementation of unconventional monetary policy (UMP) may benefit banks, as the average maturity of a bank's portfolio tends to exceed the average maturity of its liabilities, and when interest rates drop, banks' fund- ing costs fall more quickly than their interest income, and net inter- est margins rise.
However, in the medium run, UMP may affect
Ultimately, the overall effects of UMP on bank risk are ambiguous.
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