scholarly journals Do Central Bank Liquidity Facilities Affect Interbank Lending Rates?

2009 ◽  
Author(s):  
Jens Henrik Eggert Christensen ◽  
Jose A. Lopez ◽  
Glenn D. Rudebusch
Keyword(s):  
Central Bank ◽  
Lending Rates ◽  
Interbank Lending

scholarly journals Do Central Bank Liquidity Facilities Affect Interbank Lending Rates?

2014 ◽  
Vol 32 (1) ◽  
pp. 136-151 ◽  
Author(s):  
Jens H. E. Christensen ◽  
Jose A. Lopez ◽  
Glenn D. Rudebusch
Keyword(s):  
Central Bank ◽  
Lending Rates ◽  
Interbank Lending

scholarly journals Do Central Bank Liquidity Facilities Affect Interbank Lending Rates?

2009 ◽  
pp. 1.000-38.000 ◽  
Author(s):  
Jens H. E. Christensen ◽  
◽  
Jose A. Lopez ◽  
Glenn D. Rudebusch ◽  
◽  
...  
Keyword(s):  
Central Bank ◽  
Lending Rates ◽  
Interbank Lending

scholarly journals ROMANIAN INTERBANK INTEREST RATES AND CENTRAL BANK’S MONETARY POLICY

2019 ◽  
Vol 66 (4) ◽  
pp. 487-506
Author(s):  
Giovanni Verga ◽  
Nicoleta Vasilcovschi
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Interest Rates ◽  
Central Banks ◽  
The European Union ◽  
European System ◽  
National Bank ◽  
Lending Rates ◽  
Main Determinants

Interbank rates are affected by the monetary policy of a country and represent a link to other financial and credit markets. In 2007, Romania became a member of the European Union and its central bank, the National Bank of Romania (NBR), joined the European System of Central Banks (ESCB) but not the Eurosystem. This paper analyses the role of the central bank and the use of its instruments concerning interbank rates. The research evaluates the influence of the Romanian Central Bank on interbank rates and shows that the policy rate and bank liquidity are among the main determinants of interbank rate movements. It is also presented that the NBR’s deposit and lending rates can limit the free movements of the interbank rate of interest. This research confirms that interbank interest rates influence bank rates strongly. The methodology used in this research includes cointegration, dynamic econometric measurement and analyses with Granger causality. Our research uses mainly ROBID and ROBOR of different maturities, showing that the influence of the Romanian Central Bank (NBR) on the interbank rate is strong, while the influence of the ECB and Fed is weak.

scholarly journals An Analysis of the Behaviour of Prime Lending Rates in Sri Lanka

2018 ◽  
Vol 5 (2) ◽  
pp. 121-138
Author(s):  
W. S. Navin Perera
Keyword(s):  
Monetary Policy ◽  
Sri Lanka ◽  
Central Bank ◽  
Empirical Evidence ◽  
Commercial Banks ◽  
Asymmetric Adjustment ◽  
Marginal Impact ◽  
Lending Rate ◽  
Lending Rates ◽  
Prime Rate

The prime lending rate is the rate at which commercial banks loan funds to their most creditworthy customers, and hence, is usually lower than other market lending rates; reason why it is considered a “base or reference rate”. In Sri Lanka, the Central Bank of Sri Lanka (CBSL) has been compiling the Average Weighted Prime Lending Rate (AWPR) since January 1986. This paper examines the determinants of prime lending rates in Sri Lanka using weekly data from January 2004 to June 2013, while attempting to capture any asymmetries in prime rate changes to monetary policy decisions. Empirical evidence suggests that the prime rate is highly persistent, while the call money rate also remains a key determinant. However, domestic liquidity was statistically insignificant and even if it was, it has only a marginal impact in determining the prime lending rate. Furthermore, there is also evidence of asymmetric adjustment in AWPR.

scholarly journals Tasas activas y pasivas en las operaciones bancarias en el cantón Salinas de la provincia de Santa Elena

2015 ◽  
Vol 3 (1) ◽  
pp. 127-132
Author(s):  
Karina Santistevan ◽  
Adrián Valencia ◽  
Lilia Valencia ◽  
Nathyn Collins
Keyword(s):  
Central Bank ◽  
Financial Institutions ◽  
Accurate Information ◽  
The Public ◽  
Percentage Points ◽  
Lending Rates ◽  
Santa Elena ◽  
Very High

Las tasas de interés son fijadas por el Banco Central del Ecuador, sin embargo en el último lustro las tasas de interés activas y pasivas que ofrecen las instituciones financieras han sufrido ligeras modificaciones. Las tasas activas que imponen estos establecimientos superan en más de 10 puntos porcentuales a las pasivas, ubicándose en 15% promedio. Esta situación hace que los usuarios de los bancos: Pichincha, Guayaquil, Pacífico, Bolivariano, entre otros, opten por retirar su dinero de las entidades antes mencionadas ya que los intereses que ellos reciben son muy bajos. El estudio situacional financiero en el cantón Salinas provincia de Santa Elena, obtuvo información a través de encuestas realizadas a los habitantes que son clientes, lográndose evidenciar las desventajas que pueden tener los usuarios AbstractInterest rates are set by the Central Bank of Ecuador, butin recent times the lending and deposit rates offered by financial institutions have been very high, around more than 10 percentage points to passive in lending rates, and 15% loans. This situation makes users of banks: Pichincha, Guayaquil, Pacífico, Bolivariano, choose to withdraw their money from them entities because the interest that they receive are not convenient. For this reason a financial situational study in the Province of Santa Elena is very important, we obtained accurate information through surveys that was undertaken to the inhabitants of that district, to get demonstrate the inconvenient for the users and using this information to inform to the public about the best alternatives when making a bank transaction.  

scholarly journals Imperfect Competition in the Interbank Market for Liquidity as a Rationale for Central Banking

2012 ◽  
Vol 4 (2) ◽  
pp. 184-217 ◽  
Author(s):  
Viral V Acharya ◽  
Denis Gromb ◽  
Tanju Yorulmazer
Keyword(s):  
Central Bank ◽  
Market Power ◽  
Financial Crises ◽  
Imperfect Competition ◽  
Central Banking ◽  
Interbank Market ◽  
Asset Sales ◽  
Lender Of Last Resort ◽  
Interbank Lending ◽  
Liquidity Frictions

We study interbank lending and asset sales markets in which banks with surplus liquidity have market power vis-à-vis banks needing liquidity, frictions arise in lending due to moral hazard, and assets are bank-specific. Surplus banks ration lending and instead purchase assets from needy banks, an inefficiency more acute during financial crises. A central bank acting as a lender-of-last-resort can ameliorate this inefficiency provided it is prepared to extend potentially loss-making loans or is better informed than outside markets, as might be the case if it also performs a supervisory role. This rationale for central banking finds support in historical episodes. (JEL E58, G01, G21, G28, L13, N21)

scholarly journals Interbank Market Interest Rate Risk Measure An Empirical Study Based on VaR Model

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Yuanyuan Peng ◽  
Luoyuan Cheng ◽  
Yue Zhu
Keyword(s):  
Interest Rate ◽  
Risk Measure ◽  
Weighted Average ◽  
Interest Rate Risk ◽  
Var Model ◽  
Interbank Market ◽  
Rate Risk ◽  
Lending Rates ◽  
Interbank Lending ◽  
T Distribution

In this paper, we use the VaR model to study the daily weighted average interest rate of the interbank market in China from January 4, 2013 to October 30, 2014, and establish the interest rate risk measure of China's interbank lending market based on GARCH model (GARCH (1,1) / TARCH (1,1) / EGARCH (1,1)), the following conclusions are drawn: t distribution is not suitable for describing the distribution of interbank lending rate series in China, the generalized error distribution Which can better describe the distribution of interbank lending rates in China. According to the sample data, the risk of interbank lending rates at the present stage is also low.

Was für eine Europäische Verfassung?

2005 ◽  
Vol 35 (139) ◽  
pp. 287-300 ◽  
Author(s):  
Étienne Balibar
Keyword(s):  
Central Bank ◽  
European Central Bank ◽  
Social Rights ◽  
European Constitution ◽  
Fundamental Level ◽  
European Central

The problem of a European Constitution is discussed at a fundamental level. In which way, can we speak about such a Constitution? Thearticle argues against the “postnational souveranism”, legitimating state against citizens. A new kind of citizenship is favoured based on extended social rights. The constitution now proposed contrarily makes the European Central Bank and its neoliberal policy to central and nearly unchangeable institution.

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