I use a natural experiment to estimate the effect that a Lender of Last Resort has on banks’ liquidity demand. In … insurance contract on banks’ liquidity holdings, using ownership status and size to identify the groups of treatment and control … banks. Results indicate a reduction of approximately 6.7 percentage points in banks’ liquidity holdings in the presence of a …

This paper tests the role of different banks� liquidity funding structures in explaining the bank failures that … recognizes that the new liquidity framework proposed by the Basel Committee on Banking Supervision appears to have the features … needed to strengthen banks� liquidity conditions and improve financial stability. Its correct implementation, together with …

We estimate the impact of household liquidity provision on macroeconomic stabilization using the 2020 CARES Act … liquidity that aligns with existing estimates for direct fiscal transfers. The implied debt-financed fiscal multiplier effects …

policy and therefore ultimately the real economy. In particular, it facilitates banks' liquidity management. This paper aims … at extending the literature which views interbank markets as mutual liquidity insurance mechanism by taking into account … persistence of liquidity shocks. Following a theory of long-term interbank funding a financial system which is modeled as a micro …

disrupting the liquidity or stability of mortgage secondary markets. In the process, the programs have created a new financial … market for pricing and trading mortgage credit risk, which has grown in size and liquidity over time. The CRT programs …

liquidity is larger in high-loan-growth banks. The negative effects of funding liquidity on lending seem to be clearer before …We investigate how funding liquidity affects the bank lending using a large sample of US bank holding companies. We … document a consistent evidence of a lower loan growth for banks that rely more on deposits. The quantile regressions which …

banks in resolution. It examines the provision of liquidity in the United States, the United Kingdom, Japan, Canada and the …-level guarantee framework – which would allow access to Eurosystem liquidity for banks coming out of resolution with limited … regimes that seek to limit the use of taxpayer money while maintaining the functions of failing banks that are critical for …

Asset encumbrance is a central concept in the context of banks’ liquidity crises, as it is associated with their … describe how asset encumbrance has evolved in euro area banks, focusing on country and business model aggregates. Second, we … conduct an econometric analysis of the driving factors of banks’ asset encumbrance, highlighting the relevance of credit risk …

recourse to the LOLR facility (a) to derive banks’ willingness-to-pay for liquidity through a one-week repo and (b) to show … results suggest (i) that banks’ willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …We use a unique data set that comprises each bank’s bids in the Eurosystem’s main refinancing operations and its …

, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the … on financial markets and the wider economy. They can, for example, bias the private provision of real liquidity and …