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Why the effective price for money exceeds the policy rate in the ECB tenders?

Välimäki, Tuomas - 2008

The tender spread, i.e. the difference between the effective price for money in the ECB's main refinancing operations and the prevailing policy rate, is one of the main determinants behind the evolution of the EONIA with respect to the ECB's operational target. This study assesses the reasons...

Persistent link: https://www.econbiz.de/10003826027

Auctions implemented by the Federal Reserve Bank of New York during the great recession

Armantier, Olivier; Sporn, John - 2013

financial markets. Three of these temporary programs relied on an auction mechanism: the Term Auction Facility, the Term …

Persistent link: https://www.econbiz.de/10010201315

Central bank asset purchases : insights from quantitative easing auctions of government bonds

Laséen, Stefan - 2023

of offered yields and quantities from individual dealers participating in the Riksbank's (central bank of Sweden … possible to uncover with access to the whole distribution and significant size of the offered amounts at each auction. Moreover … with changes in market yields for an extended period after the auction suggesting that purchase operations have a more …

Persistent link: https://www.econbiz.de/10013489780