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Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting exception in this respect. It relies on external...
Persistent link: https://www.econbiz.de/10012511460
Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting exception in this respect. It relies on external...
Persistent link: https://www.econbiz.de/10012502045
Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity premium that reduces the cost of government finance. The ECB is an interesting exception in this respect. It relies on external...
Persistent link: https://www.econbiz.de/10012502094
Persistent link: https://www.econbiz.de/10014544965
Persistent link: https://www.econbiz.de/10012500038