speeding up the processing and settlement of payments. In a real-time environment banks face new challenges in liquidity … management. They need to plan for intraday as well as interday fluctuations in liquidity. By employing various types of hybrid … settlement structures, banks may be able to even out intraday fluctuations in liquidity demand. The aim of this study is to …

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 …

elements of payment and settlement systems (system structures, interdependencies, processing steps, liquidity consumption, cost …

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 …

effective in reducing queuing in the systems at all levels of liquidity, but in particular when intra-day liquidity is scarce. …