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The Eurozone interbank market “freeze†under the microscope: lessons from TARGET2

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  • Co-Pierre Georg
  • Silvia Gabrieli

Abstract

Eurozone banks become sensitive to counterparty characteristics after the Lehman Brothers’ insolvency but do not stop lending altogether, contrary to the common narrative. Banks rather start hoarding liquidity by shortening the maturity of their interbank assets. The subsequent change in turnover volumes is accompanied by a significant structural change of the interbank network. We show […]

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  • Co-Pierre Georg & Silvia Gabrieli, 2015. "The Eurozone interbank market “freeze†under the microscope: lessons from TARGET2," Working Papers 18, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:18
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    Cited by:

    1. Greg Farrell & Shakill Hassan & Nicola Viegi, 2012. "The High-Frequency Response of the Rand-Dollar Rate to Inflation Surprises," Working Papers 201215, University of Pretoria, Department of Economics.
    2. Nasha Maveé & Mr. Roberto Perrelli & Mr. Axel Schimmelpfennig, 2016. "Surprise, Surprise: What Drives the Rand / U.S. Dollar Exchange Rate Volatility?," IMF Working Papers 2016/205, International Monetary Fund.

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