Arbeitspapier

Fragmentation in the euro overnight unsecured money market

This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June 2008 – August 2013 using interbank loans constructed from payments data. After controlling for cross-country differences in bank risk, we document several episodes of significant market fragmentation. While non-standard measures such as the provision of long-term liquidity were successful in reducing tensions, considerable signs of market fragmentation remained at the end of the sample period.

ISBN
978-92-899-1495-6
Language
Englisch

Bibliographic citation
Series: ECB Working Paper ; No. 1755

Classification
Wirtschaft
Subject
Financial integration
monetary policy implementation
money markets
sovereign debt crisis

Event
Geistige Schöpfung
(who)
Garcia-de-Andoain, Carlos
Hoffmann, Peter
Manganelli, Simone
Event
Veröffentlichung
(who)
European Central Bank (ECB)
(where)
Frankfurt a. M.
(when)
2014

Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Garcia-de-Andoain, Carlos
  • Hoffmann, Peter
  • Manganelli, Simone
  • European Central Bank (ECB)

Time of origin

  • 2014

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