Hartmann, Philipp; Grüner, Hans Peter; Fecht, Falko - Deutsche Bundesbank - 2007
secured interbank market, (iii) integration trough the unsecured interbank market, (iv) integration of retail markets. The … secured interbank market is an optimal risk-sharing device when banks report liquidity needs truthfully. It allows … monetary union, for example, extending the common interbank market might increase the benefits of also integrating retail …