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 …

loans, credit and credit cards) and four countries (France, Italy, Poland and the UK). Results were extrapolated to the EU28 …

Bulgaria has for years been facing some of the highest credit growth rates and current account deficits in Central and … monetary policy instruments are not available within the currency board arrangement, the Bulgarian National Bank resorted to a … combination of administrative and prudential measures to curb credit growth. The introduction of defacto credit ceilings has …