TY  - JOUR
ID  - discovery1475026
N2  - We present an empirical analysis of the European electronic interbank market of overnight lending e-MID during the years 1999-2009. After introducing the market mechanism, we consider the activity, defined as the number of trades per day; the spreads, defined as the difference between the rate of a transaction and the key rates of the European Central Bank; the lending conditions, defined as the difference between the costs of a lent and a borrowed Euro; the bank strategies, defined through different variants of the cumulative volume functions; etc. Among other facts, it emerges that the lending conditions differ from bank to bank, and that the bank strategies are not strongly associated either to the present, past or future spreads. Moreover, we show the presence of a bid-ask spread-like effect and its behavior during the crisis.
PB  - Il Mulino
KW  - overnight interbank market
KW  -  subprime crisis
KW  -  cost of money
KW  -  e-MID
TI  - Banks' strategies and cost of money: Effects of the financial crisis on the European electronic overnight interbank market
EP  - 202
AV  - public
Y1  - 2015/07//
SN  - 2282-717X
UR  - http://dx.doi.org/10.12831/82212
JF  - Journal of Financial Management, Markets and Institutions
A1  - Iori, G
A1  - Politi, M
A1  - Germano, G
A1  - Gabbi, G
SP  - 179
VL  - 2015
N1  - Copyright © Società editrice il Mulino 2015.
IS  - 2
ER  -