We analyze the role of loan maturity and collateral eligibility for the transmission of central bank liquidity … extended the ECB liquidity maturity—in Italy, where banks benefited from a government guarantee program that effectively … relaxed the ECB collateral requirements. Combining the national credit register with banks' securities holdings, we find that …

characterised by market fragmentation and extended liquidity provision by the ECB. For our analysis we develop a theoretical …

. This interaction is not yet well understood. We focus on the newly introduced Liquidity Coverage Ratio (LCR) and how it … liquidity regulation may interfere with the central bank's implementation of monetary policy. We find that when the market … liquidity regulation …

The liquidity of financial system plays a central role in systemic crises. In this paper, we show that the ECB haircut … policies provided an important liquidity support to distressed financial institutions during the euro area sovereign debt … turmoil. Using novel, micro data on the pool of collateral eligible to ECB open market operations, we construct a “public …

We examine the system-wide effects of liquidity regulation on banks’ balance sheets. In the general equilibrium model … value before maturity, e.g., structured securities. By improving the liquidity of interbank markets, tighter liquidity … requirements induce banks to invest in such complex assets. We evaluate the welfare properties of combining liquidity regulation …

When a bank receives credit from the central bank, its Liquidity Coverage Ratio (LCR) changes. In most cases, the LCR …

The use of central bank liquidity lines has gained momentum since the global financial crisis in order to provide … liquidity in foreign exchange markets, while at the same time preventing threats to financial stability and negative spillbacks …. US dollar swap lines are well studied, but much less is known about the effects of liquidity lines in euros. We use a …

crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding … without being clear on how such an approach will affect the overall equilibrium on money markets. In particular, liquidity … existence of a central bank can be welfare-improving when the market equilibrium is driven by collateral constraints and …