The financial crisis revealed flaws in pre-crisis policy frameworks. Particular gaps included the failure of monetary … manoeuvre in event of a crisis. During the crisis, the clear pre-crisis assignments of policy instruments to objectives became … exit from the crisis, policy decisions continue to be made in an environment of high uncertainty. In the near term …

We model a typical Asian-crisis-economy using dynamic general equilibrium tech-niques. Exchange rates obtain from …

How do banks operate in a negative policy rate environment? Bank profitability is threatened by policy rate cuts in … negative territory because the zero lower bound on retail deposit rates prevents banks from benefiting from cheaper deposit … funding costs. Contrary to some earlier research, this paper finds that banks most affected by negative rates through this …

identification and data on all Swiss banks. First, we find that going negative can interrupt not only the pass-through from policy to … deposit rates, but also that to mortgage rates. Second, banks’ ability to offset negative deposit margins with increased … mortgage margins is shown to depend on market power. Third, imposing negative rates on all central bank reserves causes banks …

We analyze the effect of negative monetary policy rates on banks, using detailed supervisory information from … Switzerland. For identification, we compare changes in the behavior of banks that had different fractions of their central bank … reserves exempt from negative rates. More affected banks reduce costly reserves and bond financing while maintaining non …

apply negative interest rates to corporate deposits. The results suggest that banks that are highly exposed to the negative … deposit rates. Furthermore, I examine whether banks adjusted their fee and commission strategy during the NIRP period and if … they do what characterises those banks. My results show that banks adjusted their strategy in deposit business with …

be associated with large Canadian banks' end-of-month repo adjustments. By combining market, central-bank and payments …

interbank markets. Money markets enable banks to engage in risk-sharing against liquidity shocks and are sensitive to global … wholesale funding and share of foreign banks. Our results indicate that money market rates in EMs react to global shocks, and …