of last resort and investigate how it formulates policy under alternative public and private governance structures. The … debate on free banking, in particular the issue of whether private institutions would fare well as lenders of last resort. <p …> In our model, the first-best LOLR scheme always covers the whole banking sector and offers full insurance to the …

We study the long standing issue of whether markets can supply banks with sufficient liquidity or whether markets … model of Holmström and Tirole (1998) on the supply of liquidity to firms. H&Ts original model analyses liquidity supply to … firms that are facing solvency shocks.We apply their framework to banking and extend the framework to admit the analysis of …

We study the long standing issue of whether markets can supply banks with sufficient liquidity or whether markets … model of Holmström and Tirole (1998) on the supply of liquidity to firms. H&Ts original model analyses liquidity supply to … firms that are facing solvency shocks. We apply their framework to banking and extend the framework to admit the analysis of …

provided liquidity against a range of assets during 2008-09. Dealers with lower equity returns and greater leverage prior to … liquidity in explaining dealer behavior. The results suggest that both financial performance and balance sheet liquidity play a …

This paper provides empirical evidence that the quality of regulatory governance-governance practices adopted by … system soundness and regulatory governance, based on country data collected from the Financial Sector Assessment Program … (FSAP). Regression results indicate that regulatory governance has a significant influence on financial system soundness …

This paper examines the relationship between the quality of banking supervision and governance of the supervisory … supervisor and the effectiveness of banking supervision; moreover, better accountability and integrity practices of the banking …

We analyze recent trends in, and determinants of, financial supervisory governance. We first calculate levels of … quality of public sector governance plays a decisive role in establishing accountability arrangements, more than independence … also show that the likelihood of establishing adequate governance arrangements are higher when the supervisor is located …