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The eurosystem money market auctions: a banking perspective

Bartzsch, Nikolaus; Craig, Ben R.; Fecht, Falko - 2005

This paper analyzes the individual bidding behaviour of German banks in the money market auctions conducted by the ECB …

Persistent link: https://www.econbiz.de/10010295903

The eurosystem money market auctions: a banking perspective

Bartzsch, Nikolaus; Craig, Ben R.; Fecht, Falko - Deutsche Bundesbank - 2005

This paper analyzes the individual bidding behaviour of German banks in the money market auctions conducted by the ECB …

Persistent link: https://www.econbiz.de/10005082791

Collateral, central bank repos, and systemic arbitrage

Fecht, Falko; Nyborg, Kjell G.; Rocholl, Jörg; … - 2016

arbitrage whereby banks funnel credit risk and low-quality collateral to the central bank. Weaker banks use lower quality … collateral to demand disproportionately larger amounts of central bank money (liquidity). This holds both before and after the …

Persistent link: https://www.econbiz.de/10011620060

The Eurosystem Money Market Auctions : A Banking Perspective

Bartzsch, Nikolaus - 2016

This paper analyzes the individual bidding behaviour of German banks in the money market auctions conducted by the ECB …

Persistent link: https://www.econbiz.de/10012989320

The Eurosystem Money Market Auctions : A Banking Perspective

Craig, Ben R.; Fecht, Falko - 2007

This paper analyzes the individual bidding behavior of German banks in the money market auctions conducted by the ECB …

Persistent link: https://www.econbiz.de/10014223075

Cross-Border Liquidity, Relationships and Monetary Policy: Evidence from the Euro Area Interbank Crisis

Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - C.E.P.R. Discussion Papers - 2015

sovereign debt crisis. Moreover, the interbank market – unlike other credit markets – allows to exploit the price dispersion … from different lenders on identical credit contracts, i.e. overnight uncollateralized loans in the same morning for the …

Persistent link: https://www.econbiz.de/10011196038

Substitution between net and gross settlement systems: A concern for financial stability?

Craig, Ben; Fecht, Falko - Deutsche Bundesbank - 2011

risks are high, increasing the need for liquidity and the money market rate but reducing overall systemic risk? This paper … actually the transactions volumes in gross settlement systems that affect the daily price of liquidity and the credit risk … spread in money markets. …

Persistent link: https://www.econbiz.de/10009283653

Cross-border liquidity, relationships and monetary policy: Evidence from the Euro area interbank crisis

Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - Deutsche Bundesbank - 2014

stronger in the sovereign debt crisis. Moreover, the interbank market - unlike other credit markets - allows to exploit the … price dispersion from different lenders on identical credit contracts, i.e. overnight uncollateralized loans in the same …

Persistent link: https://www.econbiz.de/10011161234

Financial Integration, Specialization, and Systemic Risk

Fecht, Falko; Grüner, Hans Peter; Hartmann, Philipp - C.E.P.R. Discussion Papers - 2012

these risks in a complete interbank market. When banks have a comparative advantage in providing credit to certain …

Persistent link: https://www.econbiz.de/10011083631

Relationship lending in the interbank market and the price of liquidity

Bräuning, Falk; Fecht, Falko - Deutsche Bundesbank - 2012

This paper empirically investigates the effect of interbank relationship lending on banks' access to liquidity. Our analysis is based on German interbank payment data which we use to create a panel of unsecured overnight loans between 1079 distinct borrower-lender pairs. The data shows that...

Persistent link: https://www.econbiz.de/10010984709