In this paper, we study the effects of supervisory stress test exercises on 19 UK banks over the 2005–2018 period. The novelty of our approach is that we include two stress testing timelines from two banking supervisory authorities. Using a difference-in-difference methodology, in a first step, we analyse the effects of the Bank of England’s stress tests on the lending behaviour of large UK banks. In a second step, for robustness, we also examine the stress tests administered by the European Banking Authority. Our main result is that banks that failed the stress tests reduced lending. Additionally, we show that the effectiveness of the stress tests exercises remained unchanged throughout the period.

在本文中，我们研究了 2005-2018 年期间监管压力测试对 19 家英国银行的影​​响。我们方法的新颖之处在于，我们包含了来自两个银行监管机构的两个压力测试时间表。第一步，我们使用差异中的差异方法分析英格兰银行的压力测试对英国大型银行贷款行为的影响。第二步，为了稳健性，我们还检查了欧洲银行管理局管理的压力测试。我们的主要结果是，未能通过压力测试的银行减少了贷款。此外，我们表明压力测试练习的有效性在整个期间保持不变。