We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on … on interbank access and volume is stronger than on spreads. Liquidity supply restrictions are exacerbated for cross … price dispersion substantially decreases when the Eurosystem promises unlimited access to liquidity at a fixed price in …

Liquidity plays an important role in explaining how banks determine their allocation of funds. This paper analyses … liquidity in a manner similar to that used to study household need for liquidity, namely, by using a cash-in-advance type model … maintained hypothesis concerning the liquidity premium and default risk premium. This paper confirms the finding that monetary …

’s interventions during different stages of the crisis in terms of this literature. We interpret the Fed’s early-stage liquidity … periods of high liquidity risk. In contrast, reductions in the Fed’s liquidity supply in 2009 did not increase the spread. Our … analysis has implications for the impact on asset prices of a potential withdrawal of liquidity supply by the Fed. -- Financial …

stabilizing their own liquidity at high frequency. The latter institution follows a much more "hands-on" approach involving daily … intervention to fine-tune the liquidity of the banking system. We review the implications of these contrasting approaches, focusing … from their customary style of liquidity management. We find that, despite differences in operational framework, certain …

analyze a model federal funds market where uncertain liquidity flows transaction costs induce banks to delay trading bid up …