Narrow search
Showing 1 - 10 of 17,506
Cover Image
Excess reserves and monetary policy tightening
Fricke, Daniel; Greppmair, Stefan; Paludkiewicz, Karol - 2024 - This draft: February 2, 2024
We show that the transmission of the European Central Bank’s (ECB) recent monetary policy tightening differs across banks depending on their level of excess reserves. Specifically, the net worth of reserve-rich banks may display a boost when the interest rate paid on reserves increases...
Persistent link: https://www.econbiz.de/10014481115
Cover Image
Going below zero - how do banks react?
Michaelis, Henrike - 2022
Exploiting confidential data on individual German bank balance-sheets, I analyse what characterises a bank that opts to apply negative interest rates to corporate deposits. The results suggest that banks that are highly exposed to the negative interest rate policy (NIRP), i.e. funded by a larger...
Persistent link: https://www.econbiz.de/10013361902
Cover Image
Can excess liquidity signal an asset price boom?
Bruggeman, Annick - 2007
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 …
Persistent link: https://www.econbiz.de/10011617387
Cover Image
Negative interest rates, excess liquidity and retail deposits : Banks’ reaction to unconventional monetary policy in the euro area
Demiralp, Selva - 2020
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 …
Persistent link: https://www.econbiz.de/10012854473
Cover Image
Negative Interest Rates, Excess Liquidity and Retail Deposits : Banks’ Reaction to Unconventional Monetary Policy in the Euro Area
Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2021
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 …
Persistent link: https://www.econbiz.de/10013221074
Cover Image
Negative interest rates, excess liquidity and retail deposits : banks' reaction to unconventional monetary policy in the euro area
Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2019
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 …
Persistent link: https://www.econbiz.de/10012098146
Cover Image
Negative interest rates, excess liquidity and retail deposits : banks' reaction to unconventional monetary policy in the euro area
Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2019
’ 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. …
Persistent link: https://www.econbiz.de/10012009191
Cover Image
Negative interest rates, excess liquidity and bank business models : banks' reaction to unconventional monetary policy in the euro area
Demiralp, Selva; Eisenschmidt, J.; Vlassopoulos, T. - 2017
In June 2014 the ECB became the first major central bank to lower one of its key policy rates to negative territory. The theoretical and empirical literature is silent on whether banks’ reaction would be different when the policy rate is lowered to negative levels compared to a standard...
Persistent link: https://www.econbiz.de/10011635511
Cover Image
Federal reserve tools for managing rates and reserves
Martin, Antoine; McAndrews, James Joseph; Palida, Ali; … - 2013
overnight RRPs (ON RRPs) may provide a better floor on rates than term RRPs because they are available to absorb daily liquidity …
Persistent link: https://www.econbiz.de/10010201212
Cover Image
Effects of the Fed's Liquidity Programs and Quantitative Easing on Interest Rates, 2007-2010
Gilbert, Ronald D. - 2015
habitat theory. We find that the effectiveness of these policies are similar to other studies in that the liquidity provided … several studies that point toward counter party risk, not lack of liquidity, as the problem in financial markets at the time …
Persistent link: https://www.econbiz.de/10013012623