Private information and lender discretion across time and institutions

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Nimeke: Private information and lender discretion across time and institutions
ISBN: 978-952-323-241-9
Tekijä: Ambrocio, Gene ; Hasan, Iftekhar
Julkaisija: Bank of Finland
Sarjan nimi: Bank of Finland Research Discussion Papers
ISSN: 1456-6184
Sarjan vuosi: 2018
Sarjan numero: 17/2018
Julkaisuvuosi: 2018
Ilmestymispäivämäärä: 10.10.2018
Sivut: 53
Asiasanat (yso): luotot; informaatio; pankit; luotonanto
JEL: D82; G14; G21; G28
Muut hakusanat: credit screening; private information; credit cycle; syndicated loans
Tiivistelmä: We assess the extent to which discretion, unexplained variations in the terms of a loan contract, has varied across time and lending institutions and show that part of this discretion is due to private information that lenders have on their borrowers. We find that discretion is lower for secured loans and loans granted by a larger group of lenders, and is larger when the lenders are larger and more profitable. Over time, discretion is also lower around recessions although the private information content is higher. The results suggest that bank discretionary and private information acquisition behaviour may be important features of the credit cycle.
Tekijänoikeustiedot: https://helda.helsinki.fi/bof/copyright


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