We investigate the impact of a new bank tax in Poland on bank lending behavior. We find that banks respond to the tax by tightening credit supply and increasing the costs of credit to the real sector. However, the responses vary across loan segments. In line with search-for-yield behavior, the tax motivates banks to shift their allocations of household credit from low-margin and relatively safe mortgage loans to higher-margin and riskier consumer loans. We find no evidence that financially weak banks are more incentivized to shift to riskier loan types. Moreover, firms that receive loans from banks more exposed to the tax experience a greater credit contraction.

我们调查了波兰新的银行税对银行贷款行为的影响。我们发现，银行通过收紧信贷供应和增加实体部门信贷成本来应对税收。然而，不同贷款部门的反应各不相同。与追求收益的行为相一致，该税收促使银行将家庭信贷配置从利润率低且相对安全的抵押贷款转向利润率较高且风险较高的消费贷款。我们没有发现任何证据表明财务状况不佳的银行更有动力转向风险较高的贷款类型。此外，从银行获得贷款的企业面临的税收风险更大，信贷紧缩程度更大。