WORKING PAPER SERIES NO 1350 / JUNE 2011: THE OPTIMAL WIDTH OF THE CENTRAL BANK STANDING FACILITIES CORRIDOR AND BANKS’ DAY-TO-DAY LIQUIDITY MANAGEMENT pdf
... Bindseil
and Juliusz Jabłecki
THE OPTIMAL WIDTH
OF THE CENTRAL BANK
STANDING FACILITIES
CORRIDOR AND BANKS’
DAY-TO-DAY LIQUIDITY
MANAGEMENT
19
ECB
Working Paper Series No 1350
June 2011
E(CSF
2
)=(i
B
− ... for the optimal width of the central bank
corridorincrisisepisodes,inwhichinterbanktransactioncostsmayexceedthewidthofthecorridors...
... foreign banks, they are 2.84 bps and −0.15 bps; for
Landesbanks, they are 2.83 bps and 0.50 bps; and for cooperative central banks, they are
4.27 bps and 0.45 bps. Thus Landesbanks and cooperative central ... those of the authors
and do not necessarily reflect those of the ECB.
WORKING PAPER SERIES
NO 1376 / SEPTEMBER 2011
THE PRICE OF LIQUIDITY
THE...
...
the views of the European Central Bank (ECB).
The views expressed are those of the authors
and do not necessarily reflect those of the ECB.
WORKING PAPER SERIES
NO 1394 / NOVEMBER 2011
BANK RISK ... regulation and research.
I. The transformation of the financial system and its impact on business models and
bank risk
The evaluation, managem...
... http :// ssrn.com/abstract_id=1572673.
NOTE: This Working Paper should not be reported as representing
the views of the European Central Bank (ECB).
The views expressed are those of the authors
and ... (iii) the usage of debit and credit cards, (iv) the existence of credit lines
10
ECB
Working Paper Series No 1395
November 2011
and (v) the usage...
... models, the lending culture of the bank, the seniority and
experience of loan officers, the banks’ hierarchy of decision-making, and so on. They thus include price
and non-price terms and conditions ... demand matter for credit and output, but also bank loan
supply factors, the balance sheet position of borrowers and the risk perception in the economy....
... in the
underlying analytical tools, and on the other hand, that there has been a large increase in the
number of central banks that publish FSRs. The frontrunners are the Bank of England, the ... variable, which takes the
value of -1 for the lowest third of the distribution, a value of 0 for the middle part of the
distribution, and the value of...
... first day there is no trading so the use of the standing
facilities is exogenous and, therefore, independent of the size of the market groups. We see that the
recourse to the standing facilities ... period as
banks try to get their desired level of reserves. This larger trade happens both between banks and
with the central bank through the use of...
... Working Paper should not be reported as representing
the views of the European Central Bank (ECB).
The views expressed are those of the authors
and do not necessarily reflect those of the ECB.
2 ... 2008), the North American Summer Meeting of the Econometric Society (Pittsburgh, 2008) and the Meeting of
the German Economic Association (Muenchen, 2007) f...
... parallel strand of the literature uses event study methodology, and typically tries to
ascertain whether the announcement of the bank merger creates shareholder value
(normally in the form of cumulated ... liquidity management via the asset side of the balance sheet has decreased its
importance in favour of active liability liquidity management.
Finally, ban...
... http :// en.wikipedia.org/wiki/Purdah.
Woodford, M. (2005). Central- Bank Communication and Policy Effectiveness. NBER
Working Paper No. 11898, December 2005.
18
ECB
Working Paper Series No 868
February ... in the old days reporters were not very knowledgeable, many of
the current breed have MAs and PhDs in economics.”
WORKING PAPER SERIES
NO 868/FE...