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Duffie, Darrell - Bank for International Settlements (BIS) - 2010

I explain the key failure mechanics of large dealer banks, and some policy implications. This is not a review of the financial crisis of 2007–2009. Systemic risk is considered only in passing. Both the financial crisis and the systemic importance of large dealer banks are nevertheless obvious...

Persistent link: https://www.econbiz.de/10008503118

The international propagation of the financial crisis of 2008 and a comparison with 1931

Allen, William A.; Moessner, Richhild - Bank for International Settlements (BIS) - 2011

features in the propagation of the two crises, the most important being the flight to liquidity and safety. In both crises …, deposit outflows were not the only important sources of liquidity pressure on banks: in 1931, the central European acceptances … of the London merchant banks were a serious problem, as, in 2008, were the liquidity commitments that commercial banks …

Persistent link: https://www.econbiz.de/10009145872

Liquidity Problems in the FX Liquid Market

Borgy, Vladimir; Idier, Julien; Fol, Gaëlle Le - HAL - 2010

immune against any liquidity problem. This paper analyzes on a long sample (2000-2009), the all set of quotes and … transactions in three main currency pairs (EURJPY, EURUSD, USDJPY) on the EBS platform. To characterize the FX market liquidity, we … propose the computation of a new liquidity indicator, BIL, that solely relies on price series availability. The main benefit …

Persistent link: https://www.econbiz.de/10008794876

Understanding the role of debt in the financial system

Holmstrom, Bengt - Bank for International Settlements (BIS) - 2015

debt. This perspective explains among other things why opacity often enhances liquidity in credit markets and therefore why …

Persistent link: https://www.econbiz.de/10011123576

Monetary policy in a downturn: Are financial crises special?

Bech, Morten; Gambacorta, Leonardo - Bank for International Settlements (BIS) - 2012

Accommodative monetary policy during the financial crisis was instrumental in preventing a deeper recession. Views differ, however, on how long such measures should be kept in place. At the heart of this debate is the notion that a protracted period of policy accommodation could create...

Persistent link: https://www.econbiz.de/10010849783

Interpreting TARGET2 balances

Cecchetti, Stephen; McCauley, Robert; McGuire, Patrick - Bank for International Settlements (BIS) - 2012

The increase in the TARGET2 balance for the Bundesbank has led to a debate in Germany about the appropriate interpretation and policy response, if any. In this paper we review the evidence for the current account financing interpretation, and find it wanting in explaining the data in 2012. BIS...

Persistent link: https://www.econbiz.de/10010849796

Rescue packages and bank lending

Brei, Michael; Gambacorta, Leonardo; Peter, Goetz von - Bank for International Settlements (BIS) - 2011

This paper examines whether the rescue measures adopted during the global financial crisis helped to sustain the supply of bank lending. The analysis proposes a setup that allows testing for structural shifts in the bank lending equation, and employs a novel dataset covering large international...

Persistent link: https://www.econbiz.de/10009364652

Between the cup and the lip

Asensio, Angel - HAL - 2009

shifting liquidity preference. According to Keynes theory of the interest rate, the variation in the long-term interest rate …

Persistent link: https://www.econbiz.de/10008794750