haku: @author Freixas, X. / yhteensä: 7
viite: 3 / 7
| Tekijä: | Freixas, X. |
| Otsikko: | Systemic risk, interbank relations, and liquidity provision by the central bank |
| Lehti: | Journal of Money, Credit and Banking
2000 : AUG, VOL. 32:3, p. 611-638 |
| Asiasana: | RISK CENTRAL BANKS LIQUIDITY |
| Kieli: | eng |
| Tiivistelmä: | The authors model systemic risk in an interbank market. Banks face liquidity needs as consumers are uncertain about where they need to consume. Interbank credit lines allow to cope with these liquidity shocks while reducing the cost of maintaining reserves. However, the interbank market exposes the system to a coordination failure (gridlock equilibrium) even if all banks are solvent. When one bank is insolvent, the stability of the banking system is affected in various ways depending on the patterns of payments across locations. |
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