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<p>In this study, we investigate the effects of macroprudential policies on banks’ net interest margins (NIMs) using 3000 banks in 28 European Union countries from 1996 to 2019. Macroprudential tightening results in an immediate 2 basis point (bp) decrease in the NIMs, an increase in interest income (IIEA) of 7&#xa0;bp, and an increase in interest expense (IEEA) of almost 10&#xa0;bp. But the last two decline by 10.5 and 10.1&#xa0;bp respectively 1–2 years later. The effect depends on the instrument type and varies based on the capital ratio and credit risk, but holds in high- and low-rate environments.</p>

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Macroprudential Policy and Net Interest Margins in European banks

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2025年8月6日

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  • Małgorzata Olszak,
  • Christophe Godlewski,
  • Iwona Kowalska,
  • Agnieszka Paciorek

摘要

In this study, we investigate the effects of macroprudential policies on banks’ net interest margins (NIMs) using 3000 banks in 28 European Union countries from 1996 to 2019. Macroprudential tightening results in an immediate 2 basis point (bp) decrease in the NIMs, an increase in interest income (IIEA) of 7 bp, and an increase in interest expense (IEEA) of almost 10 bp. But the last two decline by 10.5 and 10.1 bp respectively 1–2 years later. The effect depends on the instrument type and varies based on the capital ratio and credit risk, but holds in high- and low-rate environments.