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technology oriented payment systems, such as systemic risk. The discussion on LVPS assumes important dimensions due to its direct … to large volumes exposures. The structure of payment system determines the type of risk, who bears the risks and the …
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This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when some countries registered a decisive inflow of the central bank liquidity and others showed an outflow. The dynamics in the TARGET2 are here explained as being due to a fall in the...
Persistent link: https://www.econbiz.de/10011408880
central banks (NCBs), thus violating the no risk-sharing requirement laid out by the Eurosystem Statutes. In this note, I … regime that today is hard-wired into Europe’s banking system. The model shows that the original no-risk-sharing principle is …
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