analyze the role and impact of heterogeneities in euro overnight unsecured market. The empirical assessment of the functioning … against some significant events that occurred in the euro money market, such as the reform of the Eurosystem’s operational …

I address the role of information heterogeneity in the Euro interbank market for unsecured term lending. I use high … the Euro area money market. I obtain four main results. First, I show that the loose supply of liquidity of the ECB has … probability of trading with a better informed bank is higher on days when open market operations take place, and at the end of the …

I address the role of information heterogeneity in the Euro interbank market for unsecured term lending. I use high … the Euro area money market. I obtain four main results. First, I show that the loose supply of liquidity of the ECB has … probability of trading with a better informed bank is higher on days when open market operations take place, and at the end of the …

bank cumulative abnormal returns (CAR's). Although recent studies have emphasized the channels of non-conventional monetary … policy actions and the sensitivity of bank stock prices to "News", how such reaction could be influenced by the shape of bank … investors' expectations of future bank performance in response to monetary policy "News". Our sample consists of commercial …

Bid-ask spreads using intraday data reveal significant sensitivity to European Central Bank (ECB) macro announcements … sharply during the minutes surrounding interest rate or other important macroeconomic announcements by the ECB. Both Euro area … stocks (of German DAX 30 and French CAC 40) and non-Euro stocks (of FTSE 100) have been used for comparative reasons. All …

On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a …