Bindseil, Ulrich; Weller, Benedict; Wuertz, Flemming - In: Economic Notes 32 (2003) 1, pp. 37-66
The paper explores the relation between individual banks' liquidity management in the euro area and the ECB's management of the aggregate current accounts held by banks with the Eurosystem. It is argued that, in the case of the euro area with its large, remunerated reserve requirements that have...