TAILIEUCHUNG - Banks’ regulatory capital buffer and the business cycle: evidence for German savings and cooperative banks

Since microfinance began in the early 1970s, approximately 70 percent of the clients of microfinance institutions (MFIs) – and often 100 percent – have been women. The reason for this is deliberate and strategic. It was soon recognized that women are the best conduit for ensuring that microfinance confers the greatest possible benefit on the greatest number of people. Throughout the world, women are responsible for the well-being of their families. Most girls are obliged to start performing household chores at an early age – sometimes as soon as they can walk – and this develops a work ethic and. | DEUTSCHE BUNDESBANK Banks regulatory capital buffer and the business cycle evidence for German savings and cooperative banks Stephanie Stolz Kiel Institute for World Economics and Deutsche Bundesbank Michael Wedow University Mainz and Deutsche Bundesbank Discussion Paper Series 2 Banking and Financial Studies No 07 2005 Discussion Papers represent the authors personal opinions and do not necessarily reflect the views of the Deutsche Bundesbank or its staff. Editorial Board Heinz Herrmann Thilo Liebig Karl-Heinz Todter Deutsche Bundesbank Wilhelm-Epstein-Strasse 14 60431 Frankfurt am Main Postfach 10 06 02 60006 Frankfurt am Main Tel 49 69 9566-1 Telex within Germany 41227 telex from abroad 414431 fax 49 69 5601071 Please address all orders in writing to Deutsche Bundesbank Press and Public Relations Division at the above address or via fax 49 69 9566-3077 Reproduction permitted only if source is stated. ISBN 3-86558-069-6 Abstract This paper analyzes the effect of the business cycle on the regulatory capital buffer of German savings and cooperative banks in the period 1993-2003. The capital buffer is found to fluctuate anticyclically over the business cycle. The fluctuation is stronger for savings banks than for cooperative banks as for savings banks risk-weighted assets fluctuate more strongly with the business cycle. Further low-capitalized banks do not catch up with their well-capitalized peers. The gap between low-capitalized and well capitalized banks even widened over the observation period. Finally low-capitalized banks do not decrease risk-weighted assets in a business cycle downturn by more than well-capitalized banks. This finding seems to imply that their low capitalization does not force them to retreat from lending. Keywords Capital Regulation Bank Capital Business Cycle Fluctuations JEL classification G21 .

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