with new Basel III regulations and with central bank policies (liquidity provision, asset purchases and the Securities … with worsening money market conditions, while higher central bank liquidity provision was associated with reduced money … market stress. After 2015, the evidence is consistent with central bank asset purchases inducing scarcity effects in some …

A growing number of studies have sought to measure the effects of non-standard policy on bank funding markets. The … purpose of this paper is to carry those estimates a step further by looking at the effects of bank funding market stress on … the volume of bank lending, using a simultaneous equation approach. By separately modeling loan supply and demand, we …

Liquidity provision through its repo auctions has been one of the main instruments of the European Central Bank (ECB …

bank and auction rates in its open market operations in times of financial market stress. In a theoretical model, it is … found that marginal rates at central bank auctions may increase if the share of troubled banks becomes too high relative to … market operations needed to absorb large stress levels in interbank money markets and hence contain central bank auction …