decouple across secured and unsecured markets following an adverse shock to credit risk. The scarcity of underlying collateral …

A standard repurchase agreement between two counterparties is considered to examine the endogenous choice of collateral … assets, the feasibility of secured lending, and welfare implications of the central bank’s collateral framework. As an …

market is important to analyze liquidity problems among heterogenous agents within the financial sector. First, because this … allows for a situation where increased liquidity supply by the central bank is only partially passed on to the interbank … undertaken by central banks to alleviate the liquidity shortage on the interbank market. Namely haircuts on eligible assets in …

found to be of second- order relevance on debt issuance decisions. Our results also suggest that central bank liquidity …

We discuss the notion of liquidity and liquidity risk within the financial system. We distinguish between three … different liquidity types, central bank liquidity, funding and market liquidity and their relevant risks. In order to understand … the workings of financial system liquidity, as well as the role of the central bank, we bring together relevant literature …

Liquidity provision through its repo auctions has been one of the main instrumentsof the European Central Bank (ECB) to …

. Therefore, the analysis suggests that there is a lower bound for the amount of liquidity provided through short-term operations …

This paper tests the hypothesis of liquidity hoarding in the Italian banking system during the 2007-2011 global …’ interventions are ineffective because banks hoard the liquidity injected rather than channelling it on to other banks and the real … the crisis, and, contrary to widespread conjecture, the liquidity injected by the Eurosystem was intermediated among banks …