liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes …

systemic risks, to analyze liquidity usage, to test or develop new system structures, and to study participants’ behavior. The …

The paper concentrates on illustrating and assessing central banks’ liquidity operations during the crisis that started …, Canada and the United States are analyzed. During the crisis the liquidity operations of central banks have converged. In …

We study the long standing issue of whether markets can supply banks with sufficient liquidity or whether markets … model of Holmström and Tirole (1998) on the supply of liquidity to firms. H&Ts original model analyses liquidity supply to … problems associated with transitory liquidity outflows, even absent any change in a bank's value. Our premise is that the scope …

This study utilises payment system data to analyse market participants’ liquidity usage and to trace interest rates … paid on overnight loans. Our aim is to examine how liquidity usage has changed during the years 2006–2/2011 and to combine …

difference between marginal and minimum price for liquidity, when the ECB reformed its op-erational framework for monetary policy …, that when the central bank applies a quantity oriented liquidity policy, a positive tender spread may result from money …, the allotment uncertainty is shown to be significantly related to the amount of liquidity supplied in each operation …

In this paper, I develop a model that addresses the links between banks’ liquidity outlook and their incentives to take … credit risk. Assuming that both bank-specific liquidity shocks and credit losses are necessary to provoke bank runs, the …-specific liquidity shock declines. This suggests that the benign liquidity outlook prevailing prior to the subprime crisis may have …