financial crisis, in which liquidity shocks become more erratic and the total costs of defaults increase, central banks may want … riskiness of counter parties and issuers is endogenous to the central bank's credit policies and related risk control framework …

We study how the subjective beliefs about loan repayment on the side of liquidity-constrained banks affect the central … bank's incentives to set looser collateral standards increase. This reduces the risk of deficient bank lending if …

provided liquidity against a range of assets during 2008-09. Dealers with lower equity returns and greater leverage prior to … liquidity in explaining dealer behavior. The results suggest that both financial performance and balance sheet liquidity play a …

We address the question to what extent a central bank can de-risk its balance sheet by unconventional monetary policy … operations. To this end, we propose a novel risk measurement framework to empirically study the time-variation in central bank … generated beneficial risk spill-overs across monetary policy operations, causing overall risk to be nonlinear in exposures. Some …