financial crisis, in which liquidity shocks become more erratic and the total costs of defaults increase, central banks may want … riskiness of counter parties and issuers is endogenous to the central bank's credit policies and related risk control framework …

The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study … resilience of the system, defined as the network of its participants, and the appropriateness of liquidity levels under tightened … liquidity conditions. The scenarios analysed are based on extreme shocks to the value of collateral of different levels and …

on financial markets and the wider economy. They can, for example, bias the private provision of real liquidity and …

We study how the subjective beliefs about loan repayment on the side of liquidity-constrained banks affect the central … bank's incentives to set looser collateral standards increase. This reduces the risk of deficient bank lending if …