The excess liquidity in the euro area is a product of a long period of quantitative easing. It changed the operational … system (ARS). To eliminate excess liquidity and return to the SRS, the ECB must intensify quantitative tightening, which is …

This paper analyses the relationship between the prevailing liquidity conditions (such as measures of money, credit and … sustained excess liquidity, we analyse under which conditions they are more likely to be followed by an asset price boom. The … periods of sustained excess liquidity that are accompanied by strong economic activity, low interest rates, high real credit …

Since 2008, excess liquidity - defined as the sum of holdings of central bank reserves in excess of reserve … small, slowly changing group of credit institutions. Despite the stability of the concentration of excess liquidity in … directing flows in the period 2015-16. In addition, the more recent concentration of excess liquidity is explained by the …

that reliance on retail deposit funding and the level of excess liquidity holdings may increase banks' responsiveness to … coverage of our loan data and the explicit consideration of banks' excess liquidity holdings are likely reasons for this … different result compared to some earlier literature. We are the first to document the importance of banks' excess liquidity …

’ funding structures jointly with that in their excess liquidity holdings. We find evidence that banks highly exposed to the …, importantly, the explicit consideration of the role of excess liquidity in our analysis. …

reliance on retail deposit funding and the level of excess liquidity holdings may increase banks' responsiveness to NIRP. We … bank loans. Broader coverage of our loan data and the explicit consideration of banks' excess liquidity holdings are the …' excess liquidity holdings for the effectiveness of NIRP, pointing to a strongcomplementarity of NIRP with central bank …

reliance on retail deposit funding and the level of excess liquidity holdings may increase banks’ responsiveness to NIRP. We … segments. We are the first to document the importance of banks’ excess liquidity holdings for the effectiveness of NIRP …, pointing to a strong complementarity of NIRP with central bank liquidity injections, e.g. via asset purchases …

' funding structures jointly with that in their excess liquidity holdings. We find evidence that banks highly exposed to the …, importantly, the explicit consideration of the role of excess liquidity in our analysis …