Standing facilities and interbank borrowing: evidence from the Federal Reserve’s new discount window [PDF]
Standing facilities are designed to place an upper bound on the rates at which financial institutions lend to one another overnight, reducing the volatility of the overnight interest rate, typically the rate targeted by central banks.
Craig Furfine
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Currency Traders and Exchange Rate Dynamics: A Survey of the U.S. Market [PDF]
We report findings from a survey of United States foreign exchange traders. Our results indicate that: (i) in recent years electronically-brokered transactions have risen substantially, mostly at the expense of traditional brokers; (ii) the market norm ...
Menzie D. Chinn, Yin-Wong Cheung
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The launch of HUFONIA and the related international experience of overnight indexed swap (OIS) markets [PDF]
In relation to the October 2010 launch of the HUFONIA Swap Index, we discuss the most important characteristics of the overnight indexed swap (OIS) market, one of the fastest-growing segments of advanced money markets.
András Kollarik, Szilárd Erhart
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Portuguese banks in the euro area market for daily funds [PDF]
In this paper, we use the Furfine (1999) statistical procedure to identify money market operations from Payments Systems data. Given the availability of an alternative data set, recording money market operations we could confirm the accuracy of the ...
Farinha, Luísa, Gaspar, Vítor
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COVID-19 uncertainty, financial markets and monetary policy effects in case of two emerging Asian countries. [PDF]
Econ Anal Policy, 2023 Behera H, Gunadi I, Rath BN.
europepmc +1 more source
Do interbank customer relationships exist? And how did they function in the crisis? Learning from Italy [PDF]
Using 11 years of monthly Italian bank-by-bank data, this paper correlates the bilateral amounts and the identity of each interbank borrower and lender with a long list of explanatory variables. The results show that interbank customer relationships, i.e.
Massimiliano Affinito
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Banking integration in the euro area [PDF]
This paper provides an assessment of the degree of integration in banking services in the euro area. It diverges from the typical analysis on integration in the financial sector by focusing on the main financial products and services provided by banks to
Frank Dierick +2 more
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Pricing Currency Risk: Facts and Puzzles from Currency Boards [PDF]
Hard pegs, such as currency boards, intend to reduce or even eliminate currency risk. This paper investigates the patterns and determinants of the currency risk premium in two currency boards -- Argentina and Hong Kong.
Luis Serven, Sergio L. Schmukler
core +3 more sources
Interest on reserves, helicopter money and new monetary policy. [PDF]
PLoS One, 2021 Ngotran D.
europepmc +1 more source
Application of Neural Network with Autocorrelation in Long-Term Forecasting of Systemic Financial Risk. [PDF]
Comput Intell Neurosci, 2022 Zhang J, Chen L.
europepmc +1 more source