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Interbank Exchanges, Liquidity Management And Banking Crises

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Author Info
Paola Brighi

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Abstract

In this paper, we show that abandoning the Diamond and Dybvig hypothesis of a unique bank representing the entire banking system gives rise to the possibility of endogenizing the interbank exchanges. In a system characterized by uncertainty regarding the moment of withdrawal of deposits, access to interbank liquidity decreases the bank risk of failure and bank runs. The possibility, moreover, to invest excess liquidity in the interbank market at a positive interest rate increases expected bank profits. JEL classification: E52, G21

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Paper provided by Tor Vergata University, CEIS in its series Departmental Working Papers with number 142.

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Date of creation: Mar 2001
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Handle: RePEc:rtv:ceiswp:142

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