interbank markets. Money markets enable banks to engage in risk-sharing against liquidity shocks and are sensitive to global … liquidity shocks to EMs as compared to benchmark short-term bond yields. Next, we disentangle the transmission into its various … of macro-prudential policy like reserve requirements can help alleviate liquidity shocks to the EM banking system …

This paper investigates the relationship between central bank (reverse) auctions and bill market liquidity. The …

Global liquidity provision is highly procyclical. The recent financial crisis has resulted in a flight to safety, with … meet the liquidity needs of dysfunctional financial markets. As the eligibility criteria for central bank borrowing have … bank has the ability to create abundant official liquidity, there should be some limits to its support for the financial …

rule moving from an explicit target in terms of a liquidity stress indicator. The implications of this approach on …

Global liquidity provisio ... …

By liquidity services, we mean in this paper the whole set of key activities which permit that the final holders of … where credit risks may be driven outside an under-capitalized banking sector, while banks stay exposed to many liquidity … regulate how collective investment funds provide, in competition with the banks, some of the liquidity required by investors …

We estimate the option value of municipal liquidity by studying bond market activity and public sector hiring decisions … eligibility population cutoffs introduced by the federal sector's Municipal Liquidity Facility (MLF) to study the effects of an … emergency liquidity option on yields, primary debt issuance, and public sector employment. We find that while the announcement …