liquidity shock. A formal model analysis shows that the application of liquidity coverage ratio (LCR) based on Basel III will … lead to a significant adaptation of banks liquidity management. LCR causes a change in bank´s liquidity allocation and … demonstrated that the application of LCR underestimates actual liquidity position of a bank and leads to allocation ineffectiveness …

increases the cost of funding these types of projects. The market has developed several ways for overcoming this loss in value …

, lengthy delay in payoff, and high risk of commercial failure have historically restricted funding interest to a niche set of …

meeting these needs. Even though the Indian financial system has adequate liquidity, the risk aversion of Indian retail … investors, the relatively small capitalisation (compared to the large quantum and long duration funding needs of infrastructure …

literature mainly points to the "bright side" of wholesale funding: sophisticated financiers can monitor banks, disciplining bad … ones but refinancing solvent ones. This paper models a "dark side" of wholesale funding. In an environment with a costless … public signals, triggering inefficient liquidations. We show that the "dark side" of wholesale funding dominates the "bright …

We present comprehensive evidence in support of giving liquidity equal standing to size, value/growth, and momentum as … investment styles, as defined by Sharpe (1992). First, we show that financial market liquidity, as identified by stock turnover …, is an economically significant indicator of long-term returns. Then, we show that liquidity, as a characteristic, is not …