Acharya, Viral V.; Merrouche, Ouarda - 2010
"We study the liquidity demand of large settlement banks in the UK and its effect on the Sterling Money Markets before … and during the sub-prime crisis of 2007-08. Liquidity holdings of large settlement banks experienced on average a 30 … this structural break, settlement bank liquidity had a precautionary nature in that it rose on calendar days with a large …