profiting from lending and incurring greater liquidity risk. We calibrate our model to study quantitatively why banks have …We develop a new framework to study the implementation of monetary policy through the banking system. Banks finance … illiquid loans by issuing deposits. Deposit transfers across banks must be settled using central bank reserves. Transfers are …

Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that …

Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that …

Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that …

We use data on UK banks’ minimum capital requirements to study the interaction of monetary policy and capital … requirement regulation. UK banks were subject to both time-varying capital requirements and changes in interest rate policy …. Tightening of either capital requirements or monetary policy reduces the supply of lending. Lending by large banks reacts …

, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the … on financial markets and the wider economy. They can, for example, bias the private provision of real liquidity and …

We study how the subjective beliefs about loan repayment on the side of liquidity-constrained banks affect the central … bank's choice of collateral standards in its lending facilities. Optimism on the side of banks, entailing a higher … banks' belief distortions and always induce the socially optimal allocation. Under uncertainty about beliefs, the central …

the Liquidity Challenge: The Changing Role of Credit Portfolio Management <i>(IACPM and KPMG)</i></li> <li>NUS-RMI Credit …

struggling to escape liquidity quicksands and stubbornly low or negative growth and employment trends. At the center of the … monetary policy pivot point. Since November 2011, the ECB has taken on an arguably activist liquidity-provider role relative to … private banks (and, in some important measure, indirectly to sovereigns) while maintaining its long-held post as 'rhetorical …