sensitivity of these strains to risk sentiment deterioration. Cross-border flows through banks for excess liquidity support … facilities leaves longer-term patterns of cross-border liquidity and capital flows broadly unchanged. While official sector … liquidity hoarding and “dash for cash” activity are expected to be lower with access to these facilities, initial evidence does …

international bond issuance, the two main components of global liquidity. The sensitivity of both types of flows to U.S. monetary … capital flows to the degree of commonality of cycles and the stance of policy. Moreover, global liquidity fluctuations have …