Whether proprietary traders provide or take liquidity, and how their behavior evolves over the business cycle and … traders concentrate their trades in large and liquid stocks, but even in these, their liquidity provision is minimal. When … intermediary balance sheets are weak, proprietary traders do not provide any liquidity. Furthermore, proprietary traders do not …

system which are of systemic relevance. As such, there is a clear need for enhanced transparency and regulatory oversight … enhance transparency and regulatory oversight of SFT activities in the European Union. Finally, the report is in line with the …

changes in financial intermediaries’ balance sheets for the supply of credit, liquidity and asset prices, and, consequently …

This paper provides a definition of global liquidity consistent with its meaning as the “ease of financing” in … also the cyclical impact of global liquidity, with sensitivities of flows to banks decreasing with stronger macroeconomic …

This paper studies the determinants of global liquidity using data on cross-border bank flows, with a longer time … series and broader country sample than previous studies. We define global liquidity as non-price determinants of cross … liquidity is driven primarily by uncertainty (VIX), US monetary policy (term premia), and UK and Euro Area bank conditions …