applied to examine the impact of bank intermediation efficiency on liquidity risk under different liquidity risk quantiles … intermediation efficiency and liquidity risk while highlighting the higher significant positive impact of intermediation efficiency … of a bank's liquidity risk is dependent on its prevailing liquidity risk level. Hence, the positive impact of equity …

crisis is often attributed to corporate bond dealers' failure to provide liquidity. We investigate this common perception … using unique data on dealers' trading. We show that corporate bond dealers provided liquidity in response to major selling … activity by clients when the CDS-bond basis widened. Although providing liquidity, dealers did not trade aggressively enough to …