and banks. Finally, we find spillover effects in particular from sovereigns in the euro area periphery to the core …

that while in the two episodes of recession and financial stress the ECB acted aggressively providing liquidity to banks … in the banking sector. It shows that euro area banks, over the 2008-2012 period, did not change neither the capital to … describes other aspects of banks’ balance sheet adjustment during the two crises pointing to a progressive dismantling of …

impact on bank intermediation applying Regression Discontinuity Designs. Using a unique dataset on Dutch banks, we show that … non-compliance with a liquidity requirement causes banks to pay and charge higher interest rates as well as to increase …

firms. Coupled with imperfect competition in the banking sector, this means that banks with chronically high excess reserves …

-financial firm and commercial bank before the crisis, but the picture was quite different for large commercial banks States and for … investment banks worldwide. We document the following patterns: a) there was an increase in leverage ratios of investment banks … and financial firms during the early 2000s; b) there was no visible increase for commercial banks and non-financial firms …

of financial integration on business cycle synchronization as a robust regularity. We use a confidential dataset on banks …

prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … overnight index swap. We have price data at the individual bank level and, unique to this paper, data on individual banks … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its …