3 Issuing costs of state guaranteed bonds - Financial Risk and ...

4 Impact of state guaranteed bonds on bank lending, funding and profitability performance
Table 17: Difference in asset and liability growth between banks having issued guaranteed
bonds and banks having issued eligible bonds without guarantee
Balance
sheet item
Net loans (%
change)
Total deposits
and other
short-term
funding
Total long-term
funding
Total liabilities
+ equity
Source: London Economics
92
Pre-issue
year
Posts- issue
year
Number
of
banks
Banks having issued
guaranteed bonds
Mean of
% change
Standard
deviation
of %
change
Banks having issued eligible
bonds without guarantee
Number
of banks
Mean of
% change
Standard
deviation
of %
change
2007 2009 2 1.4% 13.8 63 4.6% 18.3
2007 2010 6 -16.5% 18.5 58 12.4 30.1
2008 2009 6 7.1% 4.1 65 8.9% 15.4
2008 2010 27 9.5% 26.5 59 16.2% 22.6
2009 2010 2 -6.4% 6.7 59 4.4% 13.8
2007 2009 2 -1.8% 5.0 58 5.7% 26.7
2007 2010 6 -3.0% 31.3 57 0.7% 19.4
2008 2009 6 3.6% 11.3 61 8.7 15.8
2008 2010 26 11.9% 24.2 55 9.5% 24.2
2009 2010 2 -6.7% 11.5 59 0.55 20.2
2007 2009 2 26.4% 31.6 65 -7.1 33.7
2007 2010 6 -36.6% 22.4 58 8.2 86.4
2008 2009 5 20.5% 24.5 65 2.4% 31.7
2008 2010 21 8.5% 36.4 57 6.6% 37.3
2009 2010 2 8.9% 27.1 55 -1.4% 24.6
2007 2009 2 5.0% 27.2 65 7.6% 26.8
2007 2010 6 6.1% 36.5 58 14.5% 27.9
2008 2009 5 40.9% 16.5 65 24.7% 21.8
2008 2010 24 16.7% 37.3 57 32.5% 24.8
2009 2010 2 2.6% 4.1 59 6.5& 14.3