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crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding … without being clear on how such an approach will affect the overall equilibrium on money markets. In particular, liquidity …
Persistent link: https://www.econbiz.de/10013080283
We analyze the pledging behavior of Euro area banks during the introduction of the liquidity coverage ratio (LCR). The … national liquidity requirements to proxy for banks' incentives to exploit this differential treatment of central bank eligible … national liquidity requirement pledge more and less liquid collateral than banks with a preceding national liquidity …
Persistent link: https://www.econbiz.de/10011994641
Central banks repo market operations and liquidity infusions occasion a structural liquidity mismatch in bank balance … sheets and increase the dependence on central bank liquidity. This paper argues for what I term “Circular Monetary Economics …”, an approach to monetary policy that seeks to green and prudentially insulate the design and implementation of liquidity …
Persistent link: https://www.econbiz.de/10012825201
. This interaction is not yet well understood. We focus on the newly introduced Liquidity Coverage Ratio (LCR) and how it … liquidity regulation may interfere with the central bank's implementation of monetary policy. We find that when the market … liquidity regulation …
Persistent link: https://www.econbiz.de/10012917294
This paper delves into the relationship between the issu-ance of Central Bank Digital Currencies (CBDC) and the likelihoodof banking panic. The issuance of CBDC acts as a disturbing shockthat incentivizes depositors to withdraw all/part of their depositsfrom the commercial banks, to swap it for...
Persistent link: https://www.econbiz.de/10014316653
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 …
Persistent link: https://www.econbiz.de/10010404154
financial stability. This paper extends the existing research by zooming in on the specific topic of liquidity provision to … banks in resolution. It examines the provision of liquidity in the United States, the United Kingdom, Japan, Canada and the … liquidity provision and the roles of the public budget and the central bank. The comparison also reveals that the role of fiscal …
Persistent link: https://www.econbiz.de/10012319162
The past two decades have seen the construction of a tiered system of international liquidity provision, the first tier …
Persistent link: https://www.econbiz.de/10013447685
dependent on banks' solvency and liquidity exposures. Our results highlight that it is necessary to take heterogeneity of …
Persistent link: https://www.econbiz.de/10014393221
Under the classical gold standard (1880-1914), the Bank of France maintained a stable discount rate while the Bank of England changed its rate very frequently. Why did the policies of these central banks, the two pillars of the gold standard, differ so much? How did the Bank of France manage to...
Persistent link: https://www.econbiz.de/10013045945