The paper studies the central bank collateral framework and its impact on banks’ liquidity under an adverse stress test … four funding channels: unsecured loans, asset sales, private repurchase agreements, or Central Bank lending. We test three … highlight the heterogeneous effects across different jurisdictions and financial institutions. We find that bank equity losses …

-section of individual bank portfolio decisions. For this purpose, an augmented version of the DSGE model of Gertler and Karadi … (2013), featuring a segmented banking sector, is estimated for the euro area and combined with a bank portfolio optimisation … approach using granular bank level data. An important feature of our modelling approach is that it captures the heterogeneity …

crucial complementarities between supervision and monetary policy: centralised supervision offsets excessive bank risk …

Federal Reserve, the Bank of England and the European Central Bank communicate with the public, and under what circumstances …

-world developments have spawned a huge new scholarly literature on central bank communication —mostly empirical, and almost all of it … and powerful part of the central bank’s toolkit since it has the ability to move financial markets, to enhance the …

area countries and is used for forecasting and scenarios analysis at the European Central Bank. The model has a tight …

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 …