In this paper we introduce two measures, the Systemic Liquidity Buffer (SLB) and the Systemic Liquidity Shortfall (SLS …) to assess liquidity in the banking system. The SLB takes an aggregated perspective on liquidity risks in the banking … system. In contrast, the SLS focusses on the problematic banks which suffer a liquidity shortfall. These measures provide an …

Liquidity problems lie at the heart of crises on financial markets as demonstrated in this paper by detailed …, provided emergency liquidity to limit the negative effects of such crises. However, the anecdotal and empirical evidence from … the three crises shows that such emergency liquidity assistance implies risks to goods price stability if it is not …

This paper provides a framework to analyse emergency liquidity assistance of central banks on financial markets in … response to aggregate and idiosyncratic liquidity shocks. The model combines the microeconomic view of liquidity as the ability … to sell assets quickly and at low costs and the macroeconomic view of liquidity as a medium of exchange that influences …