IDEAS home Printed from https://ideas.repec.org/p/bcl/bclwop/bclwp092.html
   My bibliography  Save this paper

The Eurosystem, the banking sector and the money market

Author

Listed:
  • Paul Mercier

Abstract

Since October 2008, the credit granted by the Eurosystem to the Euro zone banking sector increased in a substantial way, as a result of the implementation of nonconventional measures, in particular the fact that the Eurosystem left to the banks the faculty to determine themselves the quantity of credit that they wished to obtain. This paper first recalls the foundations of the interbank money market and then analyses the evolution of the ?net liquidity needs? of the banking sector. It provided a clarification of the relation between the Eurosystem, the euro zone banking sector and the money market. In particular, it develops arguments against the myth of ?idle money parked with the Eurosystem?.

Suggested Citation

  • Paul Mercier, 2014. "The Eurosystem, the banking sector and the money market," BCL working papers 92, Central Bank of Luxembourg.
    • Handle: RePEc:bcl:bclwop:bclwp092
    as

    Download full text from publisher

    File URL: https://www.bcl.lu/fr/Recherche/publications/cahiers_etudes/92/BCLWP092.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sergio Cesaratto, 2022. "Le frontiere della politica monetaria: aspetti didattici, teorici, di politica economica. Un review article (The frontiers of monetary policy: didactic, theoretical, economic policy aspects. A review ," Moneta e Credito, Economia civile, vol. 75(299), pages 353-373.
    2. Paul Mercier, 2017. "Public debt, central bank and money: Some clarifications," BCL working papers 108, Central Bank of Luxembourg.

    More about this item

    Keywords

    monetary policy implementation; central bank; central bank?s balance sheet; money market; liquidity deficit; excess liquidity;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcl:bclwop:bclwp092. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/bclgvlu.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.