Arbeitspapier
COVID-19 and the fragmentation of the European interbank market
This paper provides evidence of a highly fragmented European interbank market that is tightened during the COVID-19 pandemic, when the interbank market was under stress. Using a unique dataset of unsecured, overnight interbank loans at the transactional level allows me to apply advanced panel methods. Furthermore, this paper shows liquidity hoarding during the pandemic and relationship lending as a German phenomenon. In addition, there is evidence that borrowers who have to pay higher rates in the market are more likely to participate in tender auctions and that the COVID-19 pandemic had the greatest impact on smaller interbank borrowers.
- Sprache
-
Englisch
- ISBN
-
978-3-95729-976-5
- Erschienen in
-
Series: Deutsche Bundesbank Discussion Paper ; No. 07/2024
Financial Crises
International Financial Markets
General Financial Markets: Government Policy and Regulation
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Network Formation and Analysis: Theory
Relationship Lending
Liquidity
COVID-19
Monetary Policy
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Pala, Melissa
- Deutsche Bundesbank
Entstanden
- 2024