... present paper investigates the pass-through between market interest rates and bank interest rates in the euro area Compared to the large interest rate pass-through literature the paper mainly improves ... used instead of national market rates as they reflect the bank financing conditions and the common monetary policy pertaining in the euro area as a whole… 48 ECB Working Paper Series No 580 January ... pass-through of market rates to bank retail rates necessitates linking the MIR/NRIR rates with market rates of comparable maturity The aggregation of national bank retail rates and market rates...