crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding … regulation may interfere with the central bank's influence on short-term money market rates. This paper tries to fill the gap in … asymmetric information. Regulation can be welfare-improving in the presence of an externality and also in case of collateral …

behind operative independence have more to do with the practical realities of governance than the formalities of …

liquidity regulation. Our identification strategy uses a regression kink design that relies on the variation in a marginal high …