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The Daily Liquidity Effect in a Floor System (Paperback) Loot Price: R919
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The Daily Liquidity Effect in a Floor System (Paperback): Syrstad Olav

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The Daily Liquidity Effect in a Floor System (Paperback)

Syrstad Olav

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Loot Price R919 Discovery Miles 9 190 | Repayment Terms: R85 pm x 12*

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This paper analyses the liquidity effect in Norway by examining the relationship between a range of liquidity variables and five different measures of the short-term interbank premium. In a floor system the key policy rate is equal to banks' deposit rate in the central bank, and as such, this analysis provides new information on the liquidity effect in a floor system. Both excess liquidity (total central bank reserves in the banking system) and structural liquidity (central bank reserves in the system before Norges Banks' market operations) have, as expected, a negative a significant effect on almost all dependent variables. Furthermore, in periods of financial turmoil European and Norwegian banks may face higher USD rates in the interbank market either because of a general USD liquidity premium or an institution specific credit premium. My analysis provides additional insight in the division between the liquidity premium and the credit premium in a way, to my knowledge, not done in earlier literature. The results indicate that during the financial crisis (2007-2009) the liquidity premium dominated in USD as the availability of credit deteriorated.

General

Imprint: Lap Lambert Academic Publishing
Country of origin: United States
Release date: May 2013
First published: May 2013
Authors: Syrstad Olav
Dimensions: 229 x 152 x 3mm (L x W x T)
Format: Paperback - Trade
Pages: 56
ISBN-13: 978-3-659-39886-5
Categories: Books > Business & Economics > Finance & accounting
Books > Business & Economics > Finance & accounting > Finance
Books > Business & Economics > Finance & accounting > Finance > Banking
Books > Money & Finance > Banking
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LSN: 3-659-39886-1
Barcode: 9783659398865

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