Interbank market
Ireland working paper examines effect of ECB policy on interbank repo market
Research by economists from Central Bank of Ireland, New York Fed and Barclays Capital finds some substitution effect between official auctions and repo market activity
Riksbank sees improvement in interbank rate framework
A detailed examination of the 'Stockholm interbank offered rate' framework was launched in 2011 after several shortcomings were revealed
Colombian interbank oligopoly requires new monetary policy transmission model
The domination of Colombia's interbank market by a few large players means traditional models cannot predict how monetary policy, and financial crises, will be transmitted
PBoC delivers on cash injection promises
People’s Bank of China uses standing lending facility and reverse repos to inject in excess of $37 billion into interbank market; releases statement to prepare market participants ahead of time
Russian interbank market lacks discipline, Bofit paper finds
Investigation into levels of market discipline in the Russian interbank market finds some discipline was present during the financial crisis, but even then it was insufficient to curb risk-taking
Italian interbank market kept working through crisis
A study of interbank lending in Italy from 2007-2011 finds the hypothesis of liquidity hoarding in times of crisis did not apply in the instance examined
Financial contagion function of reputation rather than size of banks
Bank clustering and large in-coming interbank loan more important than leverage ratios, while central bank intervention reduce contagion only slightly, Bank of Finland discussion paper finds
Segmented structure of Russian interbank market leads to volatile interest rates
Liquidity-absorbing and liquidity-provision operations are conducted by the biggest banks, reducing credit risk but also restraining market development, according to Bank of Finland discussion paper
Surge in excess reserves drives overnight interbank rate to ‘floor of corridor'
Dynamics in the overnight money market are in line with ‘expected consequences of market stresses and unconventional monetary policies' according to RBA working paper
Czech paper examines interbank risk premium
Research finds counterparty and liquidity risk are ‘potentially significant determinants’ in the departure of interbank rates from key policy rates in Czech Republic
Bank of Lithuania refashions calculation for interbank lending rate
The central bank is replacing interest rates with credit ratings as basis for bank quotes