How Did Bank Lending to Small Business in the United States Fare After the Financial Crisis?

Rebel A. Cole
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引用次数: 7

Abstract

Aggregate bank-loan data reported by the FDIC show that bank lending to small businesses plummeted during 2009-2011 following the collapse of Lehman Brothers in Sep. 2008 and the onset of the financial crisis, and continued to decline during the post-crisis years 2012-2015. However, the number of banks also declined during both periods, making it difficult to determine if banks have continued, or loosened, the tight-credit policies of 2009-2011. The current study analyzes bank-level data on both the stock and flow of small-business lending collected by U.S. banking regulators to provide new univariate and multivariate evidence on whether bank lending to businesses - small and large - recovered after the financial crisis. The analysis reveals that bank lending to small businesses remained at depressed levels throughout the post-crisis years, while total-business lending saw somewhat of a recovery. Finally, the analysis documents that the declines in small-business lending were significantly greater at large banks than at small banks, and at banks in worse financial condition than at banks in better financial condition.
金融危机后美国银行对小企业的贷款表现如何?
FDIC报告的银行贷款总额数据显示,在2008年9月雷曼兄弟(Lehman Brothers)破产和金融危机爆发后的2009年至2011年期间,银行对小企业的贷款大幅下降,并在危机后的2012年至2015年期间继续下降。然而,在这两个时期,银行的数量也在减少,因此很难确定银行是否继续或放松了2009-2011年的紧缩信贷政策。目前的研究分析了美国银行业监管机构收集的关于小企业贷款存量和流量的银行层面数据,以提供新的单变量和多变量证据,证明银行对小企业和大型企业的贷款在金融危机后是否有所恢复。分析显示,在金融危机后的几年里,银行对小企业的贷款一直处于低迷水平,而对企业的贷款总额出现了一定程度的复苏。最后,分析表明,大银行的小企业贷款下降幅度明显大于小银行,财务状况较差的银行比财务状况较好的银行下降幅度更大。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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