“…Like previous studies, we also include interactions between the monetary policy variable ( Δi ), and SIZE, LIQ and CAP. As we are interacting continuous variables, similar to previous studies, to facilitate the interpretation, we normalize in Equation (1) the banks’ variables ( SIZE , LIQ , and CAP) with respect to their mean across all banks in the sample as it is shown in Equations (2) , (3) , (4) [ 23 , 39 ]. 10 A i,t is the total assets, L i,t is the level of treasury and temporary financial investments, C i,t is the total capital, N t is the number of banks and T is the number of years.…”