We empirically investigate why wholesale funding is fragile by providing the first study of how individual banks borrow and lend in the euro unsecured and secured interbank market. Consistent with theories in which lenders enforce market discipline by monitoring counterparty credit risk and...

Somalia is emerging from 25 years of political instability and economic difficulty but hard data islacking for evidence-based planning. The civil war and ongoing conflict that started in 1991 fragmented the country, undermined political institutions, and created widespread vulnerability. The...

We empirically investigate why wholesale funding is fragile by providing the first study of how individual banks borrow and lend in the euro unsecured and secured interbank market. Consistent with theories in which lenders enforce market discipline by monitoring counterparty credit risk and...

This supplemental appendix extends the results in Di Filippo, Ranaldo, and Wrampelmeyer (2015) by providing additional background information, analyses, and robustness checks.The paper "Unsecured and Secured Funding" to which these Appendices apply is available at the following URL:...

The appendices for this paper may be found here: https://ssrn.com/abstract=3746406.We study how individual banks borrow and lend in the euro unsecured and secured interbank market. We find that banks with lower credit worthiness replace unsecured with secured borrowing, which is consistent with...