sensitivity of these strains to risk sentiment deterioration. Cross-border flows through banks for excess liquidity support … purposes are reduced in the near term and the risk sensitivity of equity and bond fund flows declines. However, access to these … facilities leaves longer-term patterns of cross-border liquidity and capital flows broadly unchanged. While official sector …

The past two decades have seen the construction of a tiered system of international liquidity provision, the first tier …

transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot …"Financial systems are inherently fragile because of the very function which makes them valuable: liquidity … between monetary policy and liquidity transformation 'optimal' monetary policy would consist of a modified Taylor rule in …