• 1 Introduction
  • 2 Institutional Background and Data
  • 2.1 The Structure of the German Banking Sector
  • 2.2 Minimum Reserve Requirements
  • 2.3 Main Refinancing Operations
  • 2.4 Data
  • 3 Descriptive Statistics
  • 3.1 Definitions of Liquidity Status Variables
  • 3.2 Liquidity Status and Size Statistics
  • 3.3 Pricing and Bidding Measures and Statistics
  • 4 Cross-Sectional Analysis
  • 4.1 Size Sorted Groups
  • 4.2 Regression Analysis
  • 5 Panel Regressions
  • 5.1 Explanatory Variables
  • 5.2 Panel Regressions without Heckman Correction
  • 5.3 Panel Regressions with Heckman Correction
  • 6 Conclusion