1. Introduction / Jacob A. Bikker and Michiel van Leuvensteijn -- 2. Potential obstacles for competition in the financial sector / Jacob A. Bikker and Michiel van Leuvensteijn -- 3. The efficiency of firms : what difference does competition make? / Donald A. Hay and Guy S. Liu -- 4. A new way to...

We study the interplay between two channels of interconnectedness in the banking system. The first one is a direct interconnectedness, via a network of interbank loans, banks' loans to other corporate and retail clients, and securities holdings. The second channel is an indirect...

We present new evidence on the structure of euro area securities markets using a multilayer network approach. Layers are broken down by key instruments and maturities as well as the secured nature of the transaction. This paper utilizes a unique dataset of banking sector crossholdings of...