framework in which fractional reserve banks emerge in equilibrium, where bank assets are funded with liabilities made demandable … in government money, where the terms of bank deposit contracts are affected by the liquidity insurance available in … financial markets, where banks are subject to runs, and where a central bank has a meaningful role to play, both in terms of …

the experience of the Colombian Central Bank over the last decade, a period of consolidation and innovation of its IT …

This working paper offers some considerations on the monetary policy framework of the European Central Bank. The trade …

The design of lender-of-last-resort interventions can exacerbate the bank-sovereign nexus. During sovereign crises …, central bank provision of long-term liquidity incentivizes banks to purchase high yield eligible collateral securities … matching the maturity of the central bank loans. Using unique security level data, we find that the European Central Bank's 3 …