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 …

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 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 …We use a unique data set that comprises each bank’s bids in the Eurosystem’s main refinancing operations and its …

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 …

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 …

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 …

settlement systems coexist? Do liquidity shortages induce banks to settle more transactions in net settlement system, thereby …While net settlement systems make more efficient use of liquidity than gross settlement systems, they are known to … increasing systemic risk? Or do banks require their counterparties to send payments through gross settlement system when default …