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Market discipline and liquidity risk : evidence from the interbank funds market

Sarmiento, Miguel - 2016

This paper identifies bank-specific-characteristics and market conditions that contribute to determine prices and … relationships benefit banks in hedging liquidity risk. We also document that central bank liquidity increments are associated with a …

Persistent link: https://www.econbiz.de/10011554714

The SSM at 1

Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016

On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...

Persistent link: https://www.econbiz.de/10011557140

The impact of exogenous liquidity shocks on banks funding costs : microevidence from the unsecured interbank market

Sarmiento, Miguel - 2019 - second version: January 2019

of idiosyncratic liquidity shocks - arising from deposits outflow at the bank level - and of the aggregate liquidity … during idiosyncratic liquidity shocks, while central bank liquidity contributes to smooth the impact of aggregate liquidity …

Persistent link: https://www.econbiz.de/10011958312

Euro area periphery countries' fiscal policy and monetary policy surprises

Hülsewig, Oliver; Rottmann, Horst - 2021

In this study, we explore how fiscal policy in euro area periphery countries responds to monetary policy surprises that lower sovereign bond yields. In particular, we assess whether the disciplining effect of financial markets on public finances is undermined by the ability of monetary policy to...

Persistent link: https://www.econbiz.de/10012549740

Reflections on central banking

Njoroge, Patrick; Murinde, Victor - In: 50 years of central banking in Kenya : regional and …, (pp. 15-38). 2021

Persistent link: https://www.econbiz.de/10012806384

Implications of index arbitrage trading on monetary policy and financial valuation

Rainish, Robert M. - In: American business review 7 (1989) 2, pp. 1-5

Persistent link: https://www.econbiz.de/10001077573

A preferred-habitat model of term premia, exchange rates, and monetary policy spillovers

Gourinchas, Pierre-Olivier; Ray, Walker; Vayanos, Dimitri - 2022

Persistent link: https://www.econbiz.de/10013162700

Limits to arbitrage during the crisis : funding liquidity constraints and covered interest parity

Mancini Griffoli, Tommaso; Ranaldo, Angelo - 2014

Arbitrage ensures that covered interest parity holds. The condition is central to price foreign exchange forwards and … interbank lending rates, and reflects the efficient functioning of markets. Normally, deviations from arbitrage, if any, last … seconds and reach a few basis points. After the Lehman bankruptcy, instead, arbitrage profits were large, persisted for months …

Persistent link: https://www.econbiz.de/10010407205

Drivers of structural change in cross-border banking since the global financial crisis

Bremus, Franziska; Fratzscher, Marcel - In: Journal of international money and finance 52 (2015), pp. 32-59

Persistent link: https://www.econbiz.de/10011490885

Limits to arbitrage and interest rates : a debate among Keynes, Hawtrey, and Hicks

Brillant, Lucy - In: Journal of the history of economic thought 40 (2018) 3, pp. 335-351

Persistent link: https://www.econbiz.de/10011957636