. Moreover, although they mitigate credit risk, CCPs create liquidity risks, because they rely on participants to provide cash …. Such requirements increase with both market volatility and default; consequently, CCP liquidity needs are inherently … financial institutions default. Liquidity-focused macroprudential stress tests could help to assess and manage this systemic …

they mitigate credit risk, CCPs create liquidity risks, because they require participants to provide cash. Such … requirements increase with market volatility; consequently, CCP liquidity needs are inherently procyclical. This procyclicality …. Liquidity-focused macroprudential stress tests could help to assess and manage this systemic liquidity risk …

during the 19th century to facilitate interregional payments and flows of liquidity and credit. Vast sums moved through the … the system's resilience to solvency and liquidity shocks and whether these shocks might have been contagious. We find that … the interbank system became more resilient to solvency shocks but less resilient to liquidity shocks as banks sharply …

The convention in calculating trading costs in corporate bond markets is to assume that dealers provide liquidity to … provide liquidity in corporate bond markets, and thus, average bid-ask spreads underestimate trading costs that customers … demanding liquidity pay. Compared with periods before the 2008 financial crisis, substantial amounts of liquidity provision have …

as to provide liquidity and risk-sharing services to the real economy. Our modifications create wedges in the asset and … joint implementation of a capital and a liquidity regulation …

This paper examines whether banks strategically incorporate their competitors' liquidity mismatch policies when … exploiting the presence of partially overlapping peer groups, I show that banks' liquidity transformation activity is driven by …' default risk and overall systemic risk, highlighting the importance of regulating liquidity risk from a macroprudential …

We examine the impact of banks' liquidity risk management on secondary loan sales. We track the dynamics of bank loan … bank loans administered by U.S. regulators. We analyze the 2007-2009 financial crisis as a market-wide liquidity shock and … importance of bank liquidity risk management as a motivation for loan sales, in addition to the credit risk transfer motive …

We investigate how liquidity regulations affect banks by examining a dormant monetary policy tool that functions as a … liquidity regulation. Our identification strategy uses a regression kink design that relies on the variation in a marginal high … credit supply. Liquidity requirements also depress banks' profitability, though some of the regulatory costs are passed on to …