This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June 2008 - August 2013 using interbank loans constructed from payments data. After controlling for cross-country differences in bank risk, we document several episodes of significant...

The ECB has an obligation to provide statistical information of the highest quality to the public and this third edition of the publication u0093Bond markets and long-term interest rates in non-euro area Member States of the European Union and in accession countriesu0094 serves to contribute to...

Cross-border mergers and acquisitions (M&As) sharply increased over the last two decades. It is often pointed out that cross-border capital reallocation is partly the result of financial liberalization policies, government policies and regional agreements. In this paper, we identify some of the...