banks had a large impact on exposed bonds' liquidity. Moreover, based on these ties, we show that bond mutual fund panic …

Using a sample of open-end corporate bond funds domiciled in the euro area, we exploit the COVID-19 market turmoil in … March 2020 to examine two channels through which liquidity buffers can reduce procyclicality in the investment fund sector …. First, we find that liquidity buffers reduced outflows during March 2020 only to a limited extent. Second, we find that …

We assess the impact on bank bond holdings of regulatory changes in the requirements for bail-inable liabilities …) induced banks to increase their holdings of eligible bank bonds, especially if issued by other banks. The requirement for own … debt issued by global systemically important banks. Finally, we find evidence of increased within-country bank …

simply repaying bank loans. Moreover, holdings of 'buy-and-hold' bond investors are large in aggregate but small for weaker …The rise of bond financing in EuropeUsing large panel data of public and private firms, this paper dissects the growth … of bond financing in the Euro Area through the lens of the cross-section of issuers. In recent years, the composition of …

-shares of the same fund during the unprecedented liquidity crisis in March 2020. For an average bond or equity mutual fund ….) accounting for less than 10% of holdings. Analyzing bond funds, we show that fund-shares with higher ownership by other funds … smaller outflows, coupled with much larger declines in performance, compared to bond funds. Our findings suggest that a …

countries. This paper shows that consumers' desire to monitor liquidity is one of the reasons. Consumers make use of a … predictions: consumers who need to keep control over their remaining liquidity and who have elevated costs of information …

Banks in the euro area can generate high-quality liquid assets (HQLA) by borrowing central bank reserves from the … Eurosystem against non-HQLA collateral. This paper quantifies the extent of this liquidity transformation and finds that on … intentional liquidity transformation using two novel approaches: The first approach compares the liquidity profile of already …

demand for safety quite distinct from liquidity and classic money demand, offering insight on a strong segmentation between …) safe assets by intermediaries, shedding new light on bank intermediation and financial stability. Novel concepts such as … maturity races, information sensitivity, risk-intolerant debt and induced runs reinforce the liquidity risk externality …