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Determinants of the Inter-Bank Interest Rate in Argentina

  • Alejandra Anastasi

    ()

    (Central Bank of Argentina)

  • Pedro Elosegui

    (Central Bank of Argentina)

  • Máximo Sangiácomo

    ()

    (Central Bank of Argentina)

This paper analyzes the determinants of the interest rate of short-term unsecured loan inter-bank market (call) in Argentina. The results show that the heterogeneous nature of the entities, in terms of size and origin of ownership, impacts on the interest rate agreed. Other additional aspects, such as the linkages between entities and the degree of supply or demand concentration, also affect the cost of funding. The structure of the market and the repo rates established by the BCRA are also relevant. Finally, the interest rate reacts positively when banks have a higher demand for liquidity, due to both seasonality and episodes of reduction in deposits.

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File URL: http://www.bcra.gov.ar/pdfs/investigaciones/WP_41_2009e.pdf
File Function: Spanish version (versión en Español)
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Paper provided by Central Bank of Argentina, Economic Research Department in its series BCRA Working Paper Series with number 200941.

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Length: 26 pages
Date of creation: Mar 2009
Date of revision:
Handle: RePEc:bcr:wpaper:200941
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