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Lending-of-last-resort is as lending-of-last-resort does : central bank liquidity provision and interbank market functioning in the eruo area
Garcia de Andoain, Carlos; Heider, Florian; Hoerova, Marie - 2015
Persistent link: https://www.econbiz.de/10011398499
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Lending-of-last-resort is as lending-of-last-resort does : central bank liquidity provision and interbank market functioning in the euro area
Garcia de Andoain, Carlos; Heider, Florian; Hoerova, Marie - 2016
Persistent link: https://www.econbiz.de/10011448928
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Lending-of-Last-Resort Is as Lending-of-Last-Resort Does : Central Bank Liquidity Provision and Interbank Market Functioning in the Euro Area
Garcia de Andoain, Carlos - 2016
This paper investigates the impact of ample liquidity provision by the European Central Bank on the functioning of the … main euro area payment system. To identify exogenous shocks to central bank liquidity, we exploit the timing of ECB … liquidity operations and use a simple structural vector auto-regression framework. We argue that the ECB acted as a de …
Persistent link: https://www.econbiz.de/10013003519
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Lending-of-last-resort is as lending-of-last-resort does : central bank liquidity provision and interbank market functioning in the euro area
Garcia de Andoain, Carlos; Heider, Florian; Hoerova, Marie - In: Journal of financial intermediation 28 (2016), pp. 32-47
Persistent link: https://www.econbiz.de/10011715179
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A theory of collateral for the lender of last resort*
Choi, Dong Beom; Santos, João A. C.; Yorulmazer, Tanju - In: Review of finance : journal of the European Finance … 25 (2021) 4, pp. 973-996
Persistent link: https://www.econbiz.de/10012594629
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Lending-of-Last-Resort is as Lending-of-Last-Resort Does : Central Bank Liquidity Provision and Interbank Market Functioning in the Euro Area
Garcia de Andoain, Carlos - 2016
This paper investigates the impact of ample liquidity provision by the European Central Bank on the functioning of the … main euro area payment system. To identify exogenous shocks to central bank liquidity, we exploit the timing of ECB … liquidity operations and use a simple structural vector auto-regression framework. We argue that the ECB acted as a de …
Persistent link: https://www.econbiz.de/10012998230
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The lender of last resort: a 21st century approach
Freixas, Xavier; Parigi, Bruno M.; Rochet, Jean-Charles - 2003
fully collateralized repo market allows Central Banks to provide the adequate aggregated amount of liquidity and leave the … a framework where liquidity shocks cannot be distinguished from solvency ones and ask whether there is a need for a LOLR …
Persistent link: https://www.econbiz.de/10011604344
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The lender of last resort: A 21st Century approach
Freixas, Xavier; Parigi, Bruno M.; Rochet, Jean-Charles - Department of Economics and Business, Universitat … - 2003
The object of this paper is to analyze rigorously the role of a Lender of Last Resort by providing a framework where the distinction between insolvency and illiquidity is not clearly cut. Determining the optimal Lender of Last Resort policy requires a careful modeling of the structure of the...
Persistent link: https://www.econbiz.de/10005771956
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How do Austrian banks fund their Swiss franc exposure?
Auer, Raphael A.; Kraenzlin, Sébastien; Liebeg, David - In: Financial stability report 24 (2012), pp. 54-61
Persistent link: https://www.econbiz.de/10010356057
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Clearinghouse loan certificates as interbank loans in the United States, 1860-1913
Hoag, Christopher - In: Financial history review 23 (2016) 3, pp. 303-324
Persistent link: https://www.econbiz.de/10011713205