O IMPACTO DE REQUERIMENTOS DE CAPITAL NA OFERTA DE CRÉDITO BANCÁRIO NO BRASIL
Márcio I. Nakane
Over the last ten years, Brazilian banking system has been resilient to shocks, and its credit concession has been low in volume and expensive. This situation motivated the analysis of the relation between a banking regulation instrument that targets systemic stability - capital requirement - and the credit supply of Brazilian banks. A model was elaborated, with its central hypothesis being the incidence, in credit operations, of "regulation costs", negatively related to the capital level of a bank. Under this hypothesis, one expects to find, ceteris paribus, a positive relation between a bank credit supply and its Basel index. Besides, this relation should be exacerbated in banks whose Basel index stands below the minimum required. The hypothesis was tested through the estimation of the model using the generalized method of moments in nonaggregate Brazilian banking data. The results evidence the importance of capital regulation in banking decision of credit supply, in accordance with the model prediction.
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