are high, the central bank assumes an intermediary function between liquidity surplus banks and liquidity deficit banks …

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 …

We show that emergency liquidity provision by the Federal Reserve transmitted to non-U.S. banking markets. Based on … lending and borrowing rates of banks with and without such access. U.S. liquidity shocks cause a significant decrease in the …

When financial intermediaries’ key characteristic is provision of liquidity through their liabilities, with financial … frictions the financial sector in the aggregate is likely to over-accumulate equity, thus decreasing liquidity provision and … financial sector. This policy increases the likelihood that intermediaries provide more liquidity and improves the stability of …

.6 percentage points and outflows decrease by 61% relative to otherwise similar funds. Following central bank liquidity provision to … banks, the growth rate of repo lending to funds by banks more exposed to the system-wide liquidity crisis was up to five …

systemic risks, to analyze liquidity usage, to test or develop new system structures, and to study participants’ behavior. The …

institutions during the resolution of a financial crisis. First, we examine how Morgan coordinated emergency liquidity infusions … applicants for liquidity had participated in earlier bond underwriting syndicates with Morgan. The single denial of aid was to an … or liquidity infusions to Morgan-backed issuers than to issuers backed by other bankers. These findings provide support …

Despite Basel III’s efforts to address capital and liquidity requirements, will the risks linked to regulatory … arbitrage increase as a result of Basel III’s more stringent capital and liquidity rules? As well as Basel III reforms which are …