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Concentration of the banking market without any clear impact on the strength of monetary policy transmission
- The concentration of the banking market potentially influences lending rates. A new study (Bredl, 2025) conducted as part of the ChaMP Research Network examines this relationship in more detail. It focuses on the concentration of regional banking markets and on lending business with small enterprises. The results show that regional concentration has no clear impact on the transmission of monetary policy impulses.
- Interest rate pass-through is an important part of monetary policy transmission. It describes how strongly banks adjust their lending and deposit rates when monetary policy or market interest rates change. The structure of the banking market could influence this relationship. For example, according to the “structure-conduct-paradigm”, a more concentrated banking market could be associated with less competition between banks. This, in turn, could weaken interest rate pass-through in the banking sector (see Deutsche Bundesbank, 2026). However, it is also conceivable that high concentration is the result of intense competition in which only the most efficient banks survive.
- Interest rate pass-through is an important part of monetary policy transmission. It describes how strongly banks adjust their lending and deposit rates when monetary policy or market interest rates change. The structure of the banking market could influence this relationship. For example, according to the “structure-conduct-paradigm”, a more concentrated banking market could be associated with less competition between banks. This, in turn, could weaken interest rate pass-through in the banking sector (see Deutsche Bundesbank, 2026). However, it is also conceivable that high concentration is the result of intense competition in which only the most efficient banks survive.
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