banks' dependence on individual bank managers as private information in the lending process declines. In this paper we argue … that this has two effects on banks, with opposing implications for banking stability. First, the hold-up problem between … bank managers and shareholders becomes less severe. Consequently, banks' capital structure needs to be less concerned with …

banks' dependence on individual bank managers as private information in the lending process declines. In this paper we argue … that this has two effects on banks, with opposing implications for banking stability. First, the hold-up problem between … bank managers and shareholders becomes less severe. Consequently, banks' capital structure needs to be less concerned with …

We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on … on interbank access and volume is stronger than on spreads. Liquidity supply restrictions are exacerbated for cross …- border lending after the Lehman failure; for banks headquartered in periphery countries, the impact is quantitatively …

recourse to the LOLR facility (a) to derive banks’ willingness-to-pay for liquidity through a one-week repo and (b) to show … results suggest (i) that banks’ willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …We use a unique data set that comprises each bank’s bids in the Eurosystem’s main refinancing operations and its …

prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its … own. There is evidence that liquidity squeezes occasionally occur and short banks pay more the larger is the potential for …

recourse to the LOLR facility (a) to derive banks' willingness-to-pay for liquidity through a one-week repo and (b) to show … results suggest (i) that banks' willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …

We study the prices that individual banks pay for liquidity (captured by borrowing rates in repos with the central bank … depend in particular on the distribution of liquidity across banks, which is calculated over time using individual bank …-level data on reserve requirements and actual holdings. Banks pay more for liquidity when positions are more imbalanced across …

We study the prices that individual banks pay for liquidity (captured by borrowing rates in repos with the central bank … depend in particular on the distribution of liquidity across banks, which is calculated over time using individual banklevel … data on reserve requirements and actual holdings. Banks pay more for liquidity when positions are more imbalanced across …

prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its … own. There is evidence that liquidity squeezes occasionally occur and short banks pay more the larger is the potential for …

recourse to the LOLR facility (a) to derive banks' willingness-to-pay for liquidity through a one-week repo and (b) to show … results suggest (i) that banks' willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …