We uncover a link between U.S. monetary policy and liquidity risk premia in stock markets around the world. Liquidity … points decline in the liquidity risk premium. This effect is concentrated among high liquidity risk stocks and is more acute ….S. monetary policy shocks affect the pricing of liquidity risk around the world and highlight the importance of a “bank channel …

demand for liquidity in the interbank market as wells as banks' access to this market. Results indicate that riskier banks … pay higher prices and borrow less liquidity, concurrent with the existence of market discipline. More capitalized and … higher prices and hoard liquidity when liquidity positions across them are more imbalanced and during a monetary policy …

We show that emergency liquidity provision by the Federal Reserve transmitted to non-U.S. banking markets. Based on … lending and borrowing rates of banks with and without such access. U.S. liquidity shocks cause a significant decrease in the …