Search Results - subject_exact:"Geldmarktgeschäft"

Narrow search

Endogenous bank risks and the lending channel of monetary policy

Araujo, Gabriela; Rivero, David; Rodríguez, Hugo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655489

A model of network formation for the overnight interbank market : when is core-periphery an illusion?

Anufriev, Mikhail; Deghi, Andrea; Panchenko, Valentyn; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015578346

Overnight interbank rate volatility across liquidity states : key drivers and policy implications

Mukhtarov, Elmir; Hajili, Ali; Garayeva, Aygun; … - 2026

Effective monetary policy requires maintaining the short-term interbank rate close to the policy rate while limiting its volatility, ensuring smooth transmission, and reducing banks' liquidity and interest rate risks. This paper seeks to identify and explain the drivers of volatility in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015614335

Show one more version 1

Overnight interbank rate volatility across liquidity states : key drivers and policy implications

Mukhtarov, Elmir; Hajili, Ali; Garayeva, Aygun; … - 2025

Book / Working Paper

Liquidity buffers, systemic banks, and interbank rate spread : evidence from Rwanda

Mugenzi, Patrick; Uwimana, Annie - 2026

This paper examines how monetary policy actions, bank liquidity positions, and institutional heterogeneity shape interbank pricing in Rwanda. Using a bank-month panel dataset constructed from transaction-level records on the Rwanda Integrated Payment Processing System (RIPPS) for monthly data...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671968

The monetary "black box" in India revisited : nonlinear transmission across yield regimes

Mostafa, Husam; Arumugasamy, Duraisamy; Ashokan, Nisha - 2026

This study re-examines the monetary "black box" in India by investigating whether monetary-policy transmission is state-dependent across different interest-rate environments. Using quarterly data spanning 1993Q1-2024Q2, it constructs a Taylor rule-based monetary-policy shock to mitigate the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671979

Securities losses and the bank collateral channel of monetary transmission

Giannetti, Mariassunta; Jasova, Martina; Mendicino, Caterina - 2026

We show that losses on banks' securities portfolios matter for the transmission mechanism of monetary policy even in the absence of financial stability concerns. When banks experience losses in their pledgeable securities, their ability to tap liquidity through the interbank market is impaired,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626594

Show one more version 1

Securities losses and the bank collateral channel of monetary transmission

Giannetti, Mariassunta; Jasova, Martina; Mendicino, Caterina - 2026

Book / Working Paper

Central clearing and the pricing of specialness in repo markets

Danisewicz, Piotr; Dieler, Tobias; Mancini, Loriano; … - 2026

Repo markets clear either bilaterally over the counter (OTC) or through central counter-parties (CCPs), which differ in how counterparty risk is priced. In bilateral markets, repo rates reflect borrower-specific risk, while CCP clearing pools counterparties and applies a common pricing rule. We...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626941

Monetary policy transmission mechanisms and financial inclusion in West Africa countries

Abdulmumin, Biliqees Ayoola - 2026

The purpose of the study was to examine the influence of monetary policy on financial inclusion in sixteen West African countries using panel data from the International Monetary Fund database covering 2010- 2021. Financial inclusion was measured through a composite index generated via principal...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016062075

The euro-area repo market : structure, participants and interlinkages

Caverni, Lorenzo; De Nicola, Annalisa; Persico, Mattia - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641914

Rising rates, rising risks? : Unpacking the U.S. stock market response to inflation and Fed Hikes (2015-2025)

Abid, Ihsen - 2025

This study investigates the dynamic relationship between key macroeconomic indicators, specifically inflation (CPI), the Federal Funds Rate, GDP growth, unemployment, and money supply, and U.S, stock market returns, represented by the S&P 500 index, over the period January 2015 to June 2025, The...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015548920

Banks are different : why bank-based versus market-based lending is a false dichotomy

Sissoko, Carolyn - 2025

This paper introduces modern readers to ‘banking theory’, that is, to the understanding of the banking system that was held by academics and practitioners in the early years of the twentieth century. This theory contrasts with the theoretic framework that views banks as intermediaries that...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015371905

Everything you want to know about the bank's Standing Liquidity Facility… but were too afraid to ask!

McRae, Kaetlynd; Chen, Jessie Ziqing - 2026 - Last updated: June 11, 2026

The Standing Liquidity Facility (SLF) is one of the Bank of Canada's least discussed tools - and one of its most important. Embedded directly in Canada's high-value payment system, Lynx, the SLF operates quietly in the background every business day, ensuring the smooth settlement of payments and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015661122

US Treasury market default risk and global interbank liquidity risk

Cottrell, Simon; Lei, Jinghua; Ma, Yihong; Delpachitra, … - 2025

Using Credit Default Swaps (CDS) on sovereign bonds, we investigate whether US sovereign default risk is a greater driving factor of domestic interbank funding risk than domestic sovereign default risk across the five Libor counties including Canada and Australia. We use equivalent-country...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015334486

Contrasting ledgers : considerations for U.S. dollar interbank payment systems

Leistra, Melissa - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653042

Realized random graphs, with an application to the interbank network

Buccheri, Giuseppe; Mazzarisi, Piero - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015339740

A tale of demand and supply for central bank reserves

Anbil, Sriya; Infante, Sebastian; Senyuz, Zeynep - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653196

Double inertia, Taylor rules, and monetary policy gradualism

Crawley, Edmund; Goodwin, William; Jacobson, Margaret M.; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653234

The London money market and non-British bank lending during the first globalisation : evidence from Brazil

Kisling, Wilfried; Molteni, Marco - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015188885

Decomposing loan rate dispersion in the interbank market

Okada, Masayuki - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015636994

The transmission of non-banking liquidity shocks to the banking sector

Sarmiento, Miguel - 2025

The increasing interdependence between non-banking financial institutions (NBFIs) and the banking sector conditions the provision of liquidity in the financial markets. This paper evaluates how the market stress associated to the bankruptcy of one of the most interconnected NBFIs in an emerging...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015441532

Show one more version 1

The transmission of non-banking liquidity shocks to the banking sector

Sarmiento, Miguel - 2024

Book / Working Paper

Beyond reserves : the Federal Reserve's balance sheet and the repo market

Anbil, Sriya; Anderson, Alyssa; Cohen, Ethan; Ruprecht, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668539

Central bank liquidity reallocation and bank lending : evidence from the tiering system

Altavilla, Carlo; Boucinha, Miguel; Burlon, Lorenzo; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015567685

Can higher federal funds rates control mortgage lending during periods of high inflation and high house prices?

Islam, Mohammad Saiful; Koch, Jascha-Alexander - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015061653

Intraday prediction of operating-rate deviations from the policy rate : evidence from Peru

Franco, Diego; Ruiz, Delia; Cuba, Walter - 2026

This paper develops an intraday early-warning framework to predict deviations of the volumeweighted overnight interbank rate from the BCRP policy rate after the close of the Central Bank's second intervention window. We study both upward deviations, associated with liquidity-scarcity episodes,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015675597

Monetary policy pass-through after the LCR

Anderson, Alyssa; Tase, Manjola - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015066393

Measuring systemic importance under liquidity stress : evidence from the Uganda National Interbank and Settlement System (UNISS) and Interbank markets

Jingo, Irene P. Nabwire; Kiiza, Joshua Aliganyira; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015675641

Monetary policy instruments and stock market returns volatility in Nigeria

Akpokerere, Emmanuel Othuke; Onojaife, Azuoma Caroline; … - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015101735

SoS! : the overnight bilateral liquidity provision of non-bank financial institutions to banks

Cucullo, Elio; Clare, Andrew D.; Gallo, Angela - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063614

The impact of CBDC on a deposit-dependent banking system

Vollmar, Steffen; Wening, Fabian - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015081177

A simulation framework for sterling money market funds : estimating redemption capacity and evaluating liquidity requirements

Kumar, Rishabh - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063697

Policy rules and forward guidance following the Covid-19 recession

Papell, David H.; Prodan-Boul, Ruxandra - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015083937

Dynamics of market power in monetary economies

Kala, Jyotsana; Lebeau, Lucie; Wang, Lu - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015207089

Leverage actually : the impact on banks' borrowing costs in euro area money markets

2025

This paper explores the impact of the regulatory leverage ratio (LR) on banks' demand for reserves and thus the pricing of overnight liquidity in the euro area money markets. We use daily transaction-level money market data during the period between January 2017 February 2023 and examine the two...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015322707

Collateral reuse as a direct funding mechanism in repo markets

Issa, George; Jarnecic, Elvis - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015085304

Leverage actually : the impact on banks' borrowing costs in euro area money markets

Andreeva, Desislava Č.; Samarina, Anna; Sousa Faria, Lara - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015330342

US dollar exchange rate elasticity of gold returns at different federal fund rate zones

Herley, Michael D.; Orłowski, Lucjan T.; Ritter, Mark A. - 2024

We examine the relationship between gold prices and the U.S. dollar exchange rate, arguing that their interactions are state-dependent and asymmetric under different market conditions. State dependency hinges on different short-term interest rate zones. To prove this point, we determine three...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015073524

Liquidity regulation, bank capital ratio, and interbank rate

Huang, Chao; Moreira, Fernando - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015079814

Assortative matching, interbank markets, and monetary policy

Bittner, Christian; Jamilov, Rustam; Saidi, Farzad - 2025

We develop a quantitative macroeconomic framework with heterogeneous financial intermediaries and active liquidity management. In the model, banks manage uninsured, idiosyncratic deposit withdrawal risk through an iterative over-the-counter interbank market with endogenous intensive and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015192256

Show one more version 1

Assortative matching, interbank markets, and monetary policy

Bittner, Christian; Jamilov, Rustam; Saidi, Farzad - 2025

Book / Working Paper

Counterparty choice, maturity shifts and market freezes : lessons from the European interbank market

Saroyan, Susanna - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014532482

Show one more version 1

Counterparty Choice, Maturity Shifts and Market Freezes : Lessons from the European Interbank Market

Saroyan, Susanna - 2023

Book / Working Paper

Monetary policy performance in heterogeneous money markets : evidence from COVID-19 pandemic

Aketcha, Karolyne; Kalema, Don Micheal; Kirabo, Martha; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015417846

Stylized facts in money markets : an empirical analysis of the eurozone data

2025

Using the secured transactions recorded within the Money Markets Statistical Reporting database of the European Central Bank, we test several stylized facts regarding the interbank market of the 47-largest banks in the eurozone. We observe that the surge in the volume of traded evergreen...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015465297

Interbank decisions and margins of stability : an agent-based stock-flow consistent approach

Reale, Jessica - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014532514

Show one more version 1

Interbank Decisions and Margins of Stability : An Agent-Based Stock-Flow Consistent Approach

Reale, Jessica - 2023

Book / Working Paper

A model of interacting banks and money market funds

Farias, Martin; Suárez, Javier - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015466538

Changes in repo markets and the necessity for CCPs in Korea

Yoon, Sun-Joong - 2024

In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo transactions to stabilize financial markets. The systemic risks inherent in repo markets were first highlighted by the global financial crisis and, as a response, global financial...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014497119

Policy rate uncertainty and Money Market Funds (MMF) portfolio allocations

Abdullah, Samin; Tase, Manjola - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015470734

Liquidity, interbank network topology and bank capital

Ardekani, Aref Mahdavi - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014512209

Bank sentiment and liquidity hoarding

Berger, Allen N.; Kim, Hugh H.; Ma, Xiaonan - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015156964

Monetary policy and bank funding costs : patterns and predictability in the transmission of the policy rate to U.S. banks' funding costs

Dias, Daniel; Scott, Sophia C. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015471430

Regional loan market structure, bank lending rates and monetary transmission

Bredl, Sebastian - 2025

The present paper utilizes AnaCredit loan-level data to examine the impact of regional loan market structure on lending rates. The analysis focuses on newly issued loans to small non-financial corporations in the euro area during the monetary policy tightening phase of 2022 and 2023. The...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015472686

The asymmetric effect of interbank rate and financial performance ratios on commercial bank profitability : empirical evidence of macro-level data from Indonesia

Arintoko; Badriah, Lilis Siti; Sambodo, Herman; … - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015130237