Title How do changing U.S. interest rates affect banks in the Gulf Cooperation Council (GCC) countries? [electronic resource] / by Olumuyiwa Adedeji, Yacoub Alatrash, and Divya Kirti.
Imprint [Washington, D.C.] : International Monetary Fund, 2019.©2019
Author Adedeji, Olumuyiwa S. author.
Alatrash, Yacoub. author.
Kirti, Divya. author.
International Monetary Fund. issuing body.
Date 01-01-2019
Physical description 1 online resource (18 pages).
text
online resource
Series IMF working paper ; no. 19/268
IMF working paper ; no. 19/268.
Item WEB (Copy 1) INTRANET 1253452-1001 ONLINE
URL Available from internal network: http://err.parl.net/client/en_GB/search/asset/79535/0
Major subject United States
Monetary policy
Gulf Cooperation Council
Banks
Minor subject Overseas item
Statistics
Notes "December 2019"
Includes bibliographical references.
ISBN 9781513519319
Abstract Given their pegged exchange rate regimes, Gulf Cooperation Council (GCC) countries usually adjust their policy rates to match shifting U.S. monetary policy. This raises the important question of how changes in U.S. monetary policy affect banks in the GCC. We use bank-level panel data, exploiting variation across banks within countries, to isolate the impact of changing U.S. interest rates on GCC banks funding costs, asset rates, and profitability. We find stronger pass-through from U.S. monetary policy to liability rates than to asset rates and bank profitability, largely reflecting funding structures. In addition, we explore the role of shifts in the quantity of bank liabilities as policy rates change and the role of large banks with relatively stable funding costs to explain these findings.
LCN 1253452
Item ID 1253452-1001
Database Library Catalogue