-the-counter markets for liquidity in Germany: the interbank market for credit and for derivatives. We use end-of-quarter data from the …

liquidity. Our analysis is based on a daily panel of unsecured overnight loans between 1,079 distinct German bank pairs from … March 2006 to November 2007, a period that includes the 2007 liquidity crisis that marked the beginning of the 2007 …/08 global financial crisis. We find that (i) relationship lenders are more likely to provide liquidity to their closest …

We study differences in the price paid for liquidity across banks using price data at the individual bank level. Unique … to gauge the extent to which a bank is short or long liquidity. We find that the price a bank pays for liquidity depends … on the liquidity positions of other banks, as well as its own. There is evidence that liquidity squeezes occasionally …

We identify frictions in the market for liquidity as well as bank-specific and market-wide factors that affect the … prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the … liquidity. We find that the price a bank pays for liquidity depends on the liquidity positions of other banks, as well as its …

This paper empirically investigates the effect of interbank relationship lending on banks’ access to liquidity. Our … liquidity. For the price of liquidity, we find that in the run-up to the recent financial crisis of 2007/08 relationship lenders … with theory that relationship lenders have private information about the creditworthiness of their close borrowers …

We study the prices that individual banks pay for liquidity (captured by borrowing rates in repos with the central bank … depend in particular on the distribution of liquidity across banks, which is calculated over time using individual banklevel … data on reserve requirements and actual holdings. Banks pay more for liquidity when positions are more imbalanced across …