Italian paper looks at effects of crisis on interbank network
Integration fell in 2007–8 but rose after ECB adopted unconventional policy, paper finds
A working paper published by the Bank of Italy examines the effect of the global financial crisis on Italian banks’ place within the interbank financing system.
In The interbank network across the global financial crisis: evidence from Italy, Massimiliano Affinito and Alberto Franco Pozzolo examine data on Italian banks’ bilateral interbank positions between 1998 and 2013.
The authors look at five key episodes: the August 2007 liquidity crisis, the September 2008 Lehman Brothers collapse, the
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