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Liquidity, liquidity everywhere, not a drop to use : why flooding banks with central bank reserves may not expand liquidity
Acharya, Viral V.; Rajan, Raghuram Govind - 2022
Persistent link: https://www.econbiz.de/10012798660
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Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets
Acharya, Viral V.; Chauhan, Rahul S.; Rajan, Raghuram Govind - National Bureau of Economic Research - 2023
When the Federal Reserve (Fed) expanded its balance sheet via quantitative easing (QE), commercial banks financed reserve holdings with deposits and reduced their average maturity. They also issued lines of credit to corporations. However, when the Fed halted its balance-sheet expansion in 2014...
Persistent link: https://www.econbiz.de/10014247971
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Deposit and Credit Reallocation in a Banking Panic : The Role of State-Owned Banks
Acharya, Viral V.; Das, Abhiman; Kulkarni, Nirupama; … - National Bureau of Economic Research - 2022
We study a bank run in India in which private bank branches experience sudden and considerable loss of deposits that seek safety in state-owned public sector banks (PSBs). We trace the consequences of this reallocation using granular data on bank-firm relationships and branch balance sheets. The...
Persistent link: https://www.econbiz.de/10013435119
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Credit lines as monitored liquidity insurance : theory and evidence
Acharya, Viral V.; Almeida, Heitor; Ippolito, Filippo; … - In: Journal of financial economics 112 (2014) 3, pp. 287-319
Persistent link: https://www.econbiz.de/10010421845
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Dealer financial conditions and lender-of-last-resort facilities
Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - In: Journal of financial economics 123 (2017) 1, pp. 81-107
Persistent link: https://www.econbiz.de/10011725183
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The dark side of liquidity creation : leverage and systemic risk
Acharya, Viral V.; Thakor, Anjan V. - In: Journal of financial intermediation 28 (2016), pp. 4-21
Persistent link: https://www.econbiz.de/10011715175
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Endogenous choice of bank liquidity : the role of fire sales
Acharya, Viral V.; Shin, Hyun Song; Yorulmazer, Tanju - 2009
Banks' liquidity is a crucial determinant of the adversity of banking crises. In this paper, we consider the effect of … banking assets. When a large number of banks fail, market for assets clears only at fire-sale prices and outsiders enter the … purchasing assets. There is also a social benefit since greater banking system liquidity reduces inefficiency from liquidation of …
Persistent link: https://www.econbiz.de/10003905117
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The seeds of a crisis : a theory of bank liquidity and risk taking over the business cycle
Acharya, Viral V.; Naqvi, Hassan - In: Journal of financial economics 106 (2012) 2, pp. 349-366
Persistent link: https://www.econbiz.de/10009666634
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Cash-in-the-market pricing and optimal resolution of bank failures
Acharya, Viral V.; Yorulmazer, Tanju - In: The review of financial studies 21 (2008) 6, pp. 2705-2742
Persistent link: https://www.econbiz.de/10003805110
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Dealer financial conditions and lender-of-last-resort facilities
Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - 2014
We examine the financial conditions of dealers that participated in two of the Federal Reserve's lender-of-last-resort (LOLR) facilities -- the Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF) -- that provided liquidity against a range of assets during...
Persistent link: https://www.econbiz.de/10010404154