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The Role of Interbank Relationships and Liquidity Needs

Craig, Ben; Fecht, Falko; Tumer-Alkan, Gunseli - Federal Reserve Bank of Cleveland - 2014

In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the … to meet its liquidity demand. We use quarterly data of bilateral interbank credit exposures between all German banks from …’s willingness to pay for liquidity since they had variable rate tenders with a “pay-your-bid” price. Controlling for bank …

Persistent link: https://www.econbiz.de/10011114912

The role of interbank relationships and liquidity needs

Craig, Ben R.; Fecht, Falko; Tümer-Alkan, Günseli - In: Journal of Banking & Finance 53 (2015) C, pp. 99-111

In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the … to meet liquidity demand. We use quarterly data of bilateral interbank credit exposure among all German banks from 2000 … liquidity, since they had variable rate tenders with a “pay-your-bid” price. Controlling for bank characteristics and the daily …

Persistent link: https://www.econbiz.de/10011209839

The role of interbank relationships and liquidity needs

Craig, Ben R.; Fecht, Falko; Tümer-Alkan, Günseli - Deutsche Bundesbank - 2013

In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the … to meet its liquidity demand. We use quarterly data of bilateral interbank credit exposures between all German banks from …'s willingness to pay for liquidity since they had variable rate tenders with a 'pay-your-bid' price. Controlling for bank …

Persistent link: https://www.econbiz.de/10010984730

Bargaining Power in the Repo Market

Kraenzlin, Sébastien Philippe; von Scarpatetti, Benedikt - Schweizerische Nationalbank (SNB) - 2011

In this paper, we analyze the price setting behavior of banks in the Swiss franc repo market by means of network topology concepts and measures. The sample ranges from October 1999 to December 2009. Hence, it covers a large part of the money market turmoil that started in August 2007. Among...

Persistent link: https://www.econbiz.de/10010895106

Systemic Risk and Stability in Financial Networks

Acemoglu, Daron; Ozdaglar, Asuman; Tahbaz-Salehi, Alireza - In: American Economic Review 105 (2015) 2, pp. 564-608

This paper argues that the extent of financial contagion exhibits a form of phase transition: as long as the magnitude of negative shocks affecting financial institutions are sufficiently small, a more densely connected financial network (corresponding to a more diversified pattern of interbank...

Persistent link: https://www.econbiz.de/10011156804

On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability

Obstfeld, Maurice - C.E.P.R. Discussion Papers - 2013

Banking systems have rapidly grown to a point where for many countries bank assets amount to multiples of GDP. As a consequence, government’s capacity to provide stability-enhancing fiscal guarantees against systemic crises can no longer be taken for granted. As regulation of dynamic financial...

Persistent link: https://www.econbiz.de/10011084186

On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability

Obstfeld, Maurice - Institute for Monetary and Economic Studies, Bank of Japan - 2013

Banking systems have rapidly grown to a point where for many countries bank assets amount to multiples of GDP. As a consequence, governmentfs capacity to provide stability-enhancing fiscal guarantees against systemic crises can no longer be taken for granted. As regulation of dynamic financial...

Persistent link: https://www.econbiz.de/10010819396

Relance mondiale : Comment la financer ?

Lorenzi, Jean-Hervé - Université Paris-Dauphine (Paris IX) - 2009

Today, the main problem in financing economies is linked to liquidity problems of banks. The paradox is that the world … mobilisation of liquidity and the transformation of the financing networks. The main idea of theses proposals is that the burden of …

Persistent link: https://www.econbiz.de/10010708363

Lessons from the 2007 Financial Crisis

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2007

global liquidity creation by key central banks and, second, an ex-ante global saving glut, brought about by the entry of a … England’s liquidity management, regulatory failure of the FSA, an inadequate deposit insurance arrangement and deficient …

Persistent link: https://www.econbiz.de/10005791213

Dollarization, Bailouts and the Stability of the Banking System

Gale, Douglas M; Vives, Xavier - C.E.P.R. Discussion Papers - 2001

Central bank policy suffers from time-inconsistency when facing a banking crisis: A bailout is optimal ex post but ex ante it should be limited to control moral hazard. Dollarization provides a credible commitment not to help at the cost of not helping even when it would be ex ante optimal to do...

Persistent link: https://www.econbiz.de/10005788955