are vulnerable to liquidity pressures in both their loan origination and servicing activities, and we document that this … sector in aggregate appears to have minimal resources to bring to bear in a stress scenario. We show how the same liquidity …

. Moreover, although they mitigate credit risk, CCPs create liquidity risks, because they rely on participants to provide cash …. Such requirements increase with both market volatility and default; consequently, CCP liquidity needs are inherently … financial institutions default. Liquidity-focused macroprudential stress tests could help to assess and manage this systemic …

The liquidity strains that contributed to the meltdown of the mortgage market in the Global Financial Crisis (GFC) re … estate investment trusts (REITs) on short-term funding amplified market disruption in March 2020. However, other liquidity …

they mitigate credit risk, CCPs create liquidity risks, because they require participants to provide cash. Such … requirements increase with market volatility; consequently, CCP liquidity needs are inherently procyclical. This procyclicality …. Liquidity-focused macroprudential stress tests could help to assess and manage this systemic liquidity risk …

increases because investors' exogenous, idiosyncratic liquidity shocks are not diversified away. Using confidential regulatory … cash and liquid assets, which help absorb large, unexpected outflows. Such funds have to pay a liquidity premium and …

We measure the liquidity profile of open-end mutual funds using the sensitivity of their daily returns to aggregate … liquidity. We study how this sensitivity changes around real-activity macroeconomic announcements that reveal large surprises … that, following negative news, the sensitivity to aggregate liquidity increases for less-liquid mutual funds, like those …

common measures of bank liquidity. Consistent with our model, our bank-level empirical analysis of these capital-liquidity … tradeoffs show (1) that bank liquidity measures have a strong and negative relationship to its capital ratio for both large and … small banks, and (2) that this relationship has weakened with the advent of stronger liquidity regulation. Our results …

contracts allows market participants to mutualize their counterparty risk, but this insurance may weaken incentives to acquire …