Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/93625 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Staff Report No. 620
Verlag: 
Federal Reserve Bank of New York, New York, NY
Zusammenfassung: 
There is substantial heterogeneity in the structure of trading relationships in the U.S. overnight interbank lending market: Some banks rely on spot transactions, while most form stable, concentrated borrowing relationships to hedge liquidity needs. As a result, borrowers pay lower prices and borrow more from their concentrated lenders. Exogenous shocks to liquidity supply (days with low GSE lending) lead to marketwide drops in liquidity and a rise in interest rates. However, borrowers with concentrated lenders are almost completely insulated from the shocks, while liquidity transmission affects the rest of the market via higher interest rates and reduced borrowing volumes.
Schlagwörter: 
interbank lending
OTC markets
JEL: 
D40
E59
G10
G21
Dokumentart: 
Working Paper

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