The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission … allotment policy introduced by the ECB as an unconventionalmeasure to re-stabilize banks' refinancing conditions. -- Financial … Crisis ; Monetary transmission process ; Central bank auctions ; European Central Bank ; Money markets …

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 … results suggest (i) that banks’ willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …

the proprietary bank-to-bank European interbank dataset extracted from Target2 and also exploit the Lehman and sovereign …

on long-term deposit funding and find that greater long-term deposit funding reduces demand for long-term central bank … funding via targeted longer-term refinancing operations (TLTRO). This effect is stronger when banks face less competition …. Long-term central bank funding further motivates banks to reduce their dependence on debt issuance and increase their money …

Exploiting confidential data on individual German bank balance-sheets, I analyse what characterises a bank that opts to …

firm level? We exploit that, in 2007, the European Central Bank replaced national collateral frameworks by a single list …How does a shock to the liquidity of bank assets affect credit supply, cross-border lending, and real activity at the …. This collateral framework shock added loans to non-domestic euro area firms to the pool of eligible assets. Using loan …