Recently, economists have argued that a bank’s importance within the financial system depends not only on its … individual characteristics but also on its position within the banking network. A bank is deemed to be “central” if, based on our …

Recently, economists have argued that a bank's importance within the financial system depends not only on its … individual characteristics but also on its position within the banking network. A bank is deemed to be 'central' if, based on our …

with new Basel III regulations and with central bank policies (liquidity provision, asset purchases and the Securities … with worsening money market conditions, while higher central bank liquidity provision was associated with reduced money … market stress. After 2015, the evidence is consistent with central bank asset purchases inducing scarcity effects in some …

We contribute to the empirical literature on the impact of shocks to bank capital in the euro area by estimating a … economy, namely a demand shock and a shock to bank capital. The main findings of the paper are as follows: i) Impulse …-response analysis shows that in response to a shock to bank capital, banks boost capital ratios by reducing their relative exposure to …

on long-term deposit funding and find that greater long-term deposit funding reduces demand for long-term central bank …. Long-term central bank funding further motivates banks to reduce their dependence on debt issuance and increase their money … incentive to apply for (long-term) central bank funding. …