Eisenschmidt, Jens; Hirsch, Astrid; Linzert, Tobias - 2009
) to address the recent tensions in financial markets since summer 2007. In this paper, we analyse banks’ bidding behaviour … unique data set comprising repo auctions from March 2004 to October 2008 with bidding data from 877 counterparties. We find …, the increased attractiveness of the ECB’s tender operations due to its collateral framework and banks’ bidding more …