『How Central Banks Target Specific Lending Channels』のカバーアート

How Central Banks Target Specific Lending Channels

How Central Banks Target Specific Lending Channels

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Episode 39 of Monetary Policy Explained with Fexingo dives into a lesser-known tool in central bankers' kit: targeted lending programs. Instead of cutting the broad policy rate, central banks can offer cheaper credit to specific sectors — think small business loans, green mortgages, or export financing. Lucas breaks down how the Bank of England's Term Funding Scheme for Small and Medium Enterprises (TFSME) worked in practice: 192 banks tapped over 190 billion pounds, directly tied to their net lending to SMEs. Luna contrasts it with the European Central Bank's TLTRO III, which offered banks rates as low as minus one percent for hitting lending targets. They explore why this tool is gaining traction in 2026 as central banks seek precision over blunt instruments. A concrete look at how policy can be surgical, not just systemic. #TargetedLending #CentralBankTools #BankOfEngland #EuropeanCentralBank #TFSME #TLTRO #SME #MonetaryPolicy #Economics #LendingChannels #GreenLending #TieredRates #QuantitativeEasing #CreditEasing #BankingSector #FexingoBusiness #BusinessPodcast #PolicyPrecision Keep every episode free: buymeacoffee.com/fexingo
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