Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations …. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting …

Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations …. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting …

Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations …. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting …

liquidity and operate the payments system. Reform advocates noted that banking panics tended to occur at times of the year when … national banks were much less dependent on correspondent banks for seasonal liquidity and that peaks in lending by individual … Reserve Banks aligned with the liquidity needs of banks in their districts. Further, the article shows that after the Fedâ …