This paper develops a theoretical model which replicates main features of the euro overnight interbank market and the … the interbank market, a refinancing operation with unlimited liquidity supply and two standing facilities offered by the …

reform, was the institutional change triggering the emergence of sovereign spreads in the Euro Area. Conditional eligibility …

, the response of Euro bond rates to the FED announcements is stronger than their response to ECB announcements …

In this paper we examine sovereign bond yield spread (BYS) spillovers between Euro zone countries during a turbulent … period encompassing both the global financial crisis and the Euro zone debt crisis. Using the VAR-based spillover index … future BYS, and are related to news announcements and policy changes; (ii) BYS spillovers between Euro zone countries are …

This paper provides a first preliminary assessment of the recent two 3-year long-term refinancing operations (3Y LTROs … interbank and the capital market in the euro area. We then investigate potential side-effects of the LTROs such as the effects … banks in the euro area on ECB funding. …