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charged already higher interest rates to their borrowers after controlling for other bank specific characteristics and general …
Persistent link: https://www.econbiz.de/10012988824
We use a unique data set that comprises each bank's bids in the Eurosystem's main refinancing operations and its … that a bank's willingness-to-pay is a good indicator for the probability that this bank draws on the LOLR facility. Our …
Persistent link: https://www.econbiz.de/10012988664
In this paper we relate a bank's choice between retail and wholesale liabilities to real economic uncertainty and the … resulting volatility of bank loan volumes. We argue that since the volume of retail deposits is slow and costly to adjust to … shocks in the volume of bank assets, banks facing more intense uncertainty and more volatile loan demand tend to employ more …
Persistent link: https://www.econbiz.de/10012988762
requirements that complement capital regulations, as in Basel III, restore constrained efficiency, improve financial stability and …
Persistent link: https://www.econbiz.de/10013210384
banks submit in Term Deposit Facility operations, a Federal Reserve tool created to manage the quantity of bank reserves. We … term deposits qualify for the LCR. These results suggest that liquidity regulation affects bank demand in monetary policy …
Persistent link: https://www.econbiz.de/10011578907
, in the context of the eurozone periphery, the increase in domestic government bond holdings, the reduction of bank credit …
Persistent link: https://www.econbiz.de/10011710170
The convention in calculating trading costs in corporate bond markets is to assume that dealers provide liquidity to non-dealers (customers) and calculate average bid-ask spreads that customers pay dealers. We show that customers often provide liquidity in corporate bond markets, and thus,...
Persistent link: https://www.econbiz.de/10011803677
Motivated by the financial crisis of 2007-2009 several papers have provided explanations for why liquidity may dry up during market stress. This paper also looks at this issue but focuses on the question as to why the liquidity crunch was not uniform across maturities. As funding pressures were...
Persistent link: https://www.econbiz.de/10010308262
To combat the financial crisis that intensified in the fall of 2008, the Federal Reserve injected a substantial amount of liquidity into the banking system. The resulting increase in reserve balances exerted downward price pressure in the federal funds market, and the effective federal funds...
Persistent link: https://www.econbiz.de/10013128715
This paper studies how building and loan associations (B&Ls) slowly unwound their obligations following a set of financial shocks during the Great Depression, with a special focus on a group of particularly troubled B&Ls in Newark, NJ. Investors in B&Ls disagreed over whether to realize losses...
Persistent link: https://www.econbiz.de/10013106763