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Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete … in liquidity risk and expected liquidity needs for each bank and for the banking system. Large mergers tend to increase … expected aggregate liquidity needs, and thus the liquidity provision by the central bank. Comparative statics suggest that a …

Persistent link: https://www.econbiz.de/10009635892

The lender of last resort

Freixas, Xavier; Parigi, Bruno M.; Rochet, Jean-Charles - 2003

The classical Bagehotu0092s conception of a Lender of Last Resort (LOLR) that lends to illiquid banks has been criticized on two grounds: on the one hand, the distinction between insolvency and illiquidity is not clear cut; on the other a fully collateralized repo market allows Central Banks to...

Persistent link: https://www.econbiz.de/10009636521

How does the ECB allot liquidity in its weekly main refinancing operations?

Ejerskov, Steen; Moss, Clara Martin; Stracca, Livio - 2003

This paper provides a simple weekly model of the regular supply of liquidity in the euro area, with a view to understanding the functioning of the euro area money market. The main result of the analysis is that liquidity has normally been provided by the ECB in a neutral and smooth manner, but...

Persistent link: https://www.econbiz.de/10009635957

Optimal allotment policy in the Eurosystem's main refinancing operations

Ewerhart, Christian; Cassola, Nuno; Ejerskov, Steen; … - 2003

On several occasions during the period 2001-2003, the European Central Bank (ECB) decided to deviate from its "neutral …

Persistent link: https://www.econbiz.de/10009636518

Reform of the European Investment Bank: How to Upgrade the EIB’s Role in Development

Griffith-Jones, Prof. Stephany; Tyson, Judith - 2010

In this briefing paper we evaluate the performance of the EIB in its external lending and policies in relation to developing economies including its response to the financial crisis. We recommend policy changes including greater absolute levels of lending to developing economies and greater risk...

Persistent link: https://www.econbiz.de/10010487957