The transition from a reference rate regime centred on interbank offered rates (IBORs) to one
based on a new set of overnight risk-free rates (RFRs) is an important paradigm shift for …

The joint supply of public and private liquidity is examined when financial intermediaries
issue both riskless and risky debt and the economy is vulnerable to liquidity crises …

Recent research suggests that sustained accommodative monetary policy has the potential
to increase financial instability. However, under some circumstances tighter monetary policy …

Interbank funding markets are central to the functioning of the financial system and the
transmission of monetary policy. Libor–OIS spreads have been widely-used indicators of …

La transición de un régimen de tasas de interés de referencia centrado en las tasas de
interés interbancarias de oferta (IBOR) a otro basado en un nuevo conjunto de tasas de …

Can creation of private money fulfill the liquidity needs of the economy? The answer is no if
the market of private money is run only by forces of perfect competition. Multiple equilibria …

La transizione da un regime di tassi di riferimento incentrato sul tasso lettera interbancario
(interbank offered rates (IBOR)) verso un regime basato su un nuovo insieme di tassi …

Der Übergang von einem auf Interbank Offered Rates (IBOR) basierenden
Referenzsatzsystem zu einem System mit neuen risikofreien Tageszinssätzen ist für die …

La transition d'un régime de référence centré sur les taux interbancaires offerts (IBOR) vers
un système fondé sur une nouvelle série de taux sans risque au jour le jour constitue un …