Fecht, Falko; Nyborg, Kjell G.; Rocholl, Jörg - In: The North American Journal of Economics and Finance 19 (2008) 1, pp. 7-21
We document a general pattern in the euro area overnight interbank rate (EONIA) and analyze how German banks compared to other EMU banks respond to these predictable changes in the price for reserve holdings. At the beginning of the maintenance period, when the EONIA is typically above average,...