The importance of technology in banking during a crisis

• 成果类型: Article
• 署名作者: Pierri, Nicola; Timmer, Yannick
• 署名单位: International Monetary Fund; Federal Reserve System - USA; Federal Reserve System Board of Governors
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2022.04.001
• 发表日期: 2022
• 页码: 88-104
• 关键词: technology; Financial stability; IT Adoption; Non-performing loans; screening

摘要

What are the implications of information technology (IT) in banking for financial stability? Data on US banks' IT equipment and the background of their executives reveals that higher pre-crisis IT adoption led to fewer non-performing loans and more lending during the global financial crisis. Empirical evidence indicates a direct role of IT adoption in strengthening bank resilience; this includes instrumental variable estimates exploiting the historical location of technical schools. Loan-level analysis shows that high-IT banks originated mortgages with better performance, indicating better borrower screening. No evidence points to offloading of low-quality loans, differences in business models, or enhanced monitoring. (C) 2022 International Monetary fund. Published by Elsevier B.V.