We study the impact of higher bank capital requirements on corporate lending spreads using granular bank- and loan-level data. Our empirical strategy employs the heterogeneity in capital requirements across banks and time of implementation in Switzerland. We find that changes in the capital deviation from the regulatory minimum affect lending spreads asymmetrically. In response to a reduction in the capital deviation, banks with deficits with respect to their risk-weighted capital requirement raise spreads relative to banks with surpluses and de-leverage. Banks respond to higher requirements by raising spreads and, for deficit banks, by cutting lending.

中文翻译：

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银行资本要求对企业贷款利差的传导

我们使用精细的银行和贷款级别数据研究更高的银行资本要求对企业贷款利差的影响。我们的实证策略利用了不同银行的资本要求和瑞士实施时间的异质性。我们发现资本偏离监管最低限度的变化不对称地影响贷款利差。为了应对资本偏差的减少，在风险加权资本要求方面存在赤字的银行提高相对于有盈余和去杠杆化银行的利差。银行通过提高利差来应对更高的要求，对于赤字银行，则通过削减贷款来应对。