This study estimates the effect of macroprudential policy changes on bank credit growth. The general pattern of the evidence from SEACEN economies suggests that credit-related macroprudential policies can effectively dampen credit expansion while liquidity-related macroprudential policy tools moderate leverage growth. In response to the implementation of macroprudential policies, banks reduce loan growth following an increase in capital requirements. We find that changes in macroprudential policies affect lending with heterogeneous responses for select SEACEN economies.
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