What are liquidity crises? And what can be done to address them? This short paper brings together some personal …: the distinction between idiosyncratic and systematic elements of liquidity crises; the growing reliance on funding … liquidity in a market-based financial system; the role of payment and settlement systems; the need to improve liquidity buffers …

between risk and uncertainty is implemented by applying the Gilboa-Schmeidler (1989) maxmin with multiple priors framework to …

liquidity risk and characterizes them. Both a solvency (leverage) and a liquidity ratio are required to control the … fund managers are more conservative the liquidity requirement has to be strengthened while the solvency one relaxed. Higher … financial intermediary is opaque) and, correspondingly, liquidity requirements should be tightened. The model is applied to …

risk and to detect macrofinancial problems has become a central concern. In the United States, this concern has been …

This paper examines whether the risk of future collateral fire sales affects lending decisions. We study US mortgage … risk of joint collateral liquidation. As expected, these results are stronger when fire-sale risk is more salient. The … results suggest that fire-sale risk has implications for credit allocation, and that lenders’ collective (ex-ante) origination …

irrelevant. Bank failures might arise despite capital adequacy and balance sheet solvency due to sudden shocks to liquidity … augmented by empirical tests that suggest that mark-to-market accounting does not increase the perceived bankruptcy risk of …