-making function, i.e. the ECB and the central banks of the four G7 countries outside the euro area (the US, UK, Japan and Canada). The … paper first reviews the objectives of and arrangements for central bank/government cooperation in the US, UK, Japan and …

The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study … resilience of the system, defined as the network of its participants, and the appropriateness of liquidity levels under tightened … liquidity conditions. The scenarios analysed are based on extreme shocks to the value of collateral of different levels and …

Since 2008, excess liquidity – defined as the sum of holdings of central bank reserves in excess of reserve … small, slowly changing group of credit institutions.Despite the stability of the concentration of excess liquidity in … directing flows in the period 2015-16. In addition, the more recent concentration of excess liquidity is explained by the …

banks in resolution. It examines the provision of liquidity in the United States, the United Kingdom, Japan, Canada and the … financial stability. This paper extends the existing research by zooming in on the specific topic of liquidity provision to … liquidity provision and the roles of the public budget and the central bank. The comparison also reveals that the role of fiscal …