eprintid: 1475026
rev_number: 22
eprint_status: archive
userid: 608
dir: disk0/01/47/50/26
datestamp: 2016-02-29 16:40:49
lastmod: 2021-10-16 22:08:21
status_changed: 2016-02-29 16:40:49
type: article
metadata_visibility: show
creators_name: Iori, G
creators_name: Politi, M
creators_name: Germano, G
creators_name: Gabbi, G
title: Banks' strategies and cost of money: Effects of the financial crisis on the European electronic overnight interbank market
ispublished: pub
divisions: UCL
divisions: B04
divisions: C05
divisions: F48
keywords: overnight interbank market, subprime crisis, cost of money, e-MID
note: Copyright © Società editrice il Mulino 2015.
abstract: 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.
date: 2015-07
date_type: published
publisher: Il Mulino
official_url: http://dx.doi.org/10.12831/82212
oa_status: green
full_text_type: pub
language: eng
primo: open
primo_central: open_green
article_type_text: Article
verified: verified_manual
elements_id: 1112934
doi: 10.12831/82212
lyricists_name: Germano, Guido
lyricists_id: GGERM33
actors_name: Germano, Guido
actors_id: GGERM33
actors_role: owner
full_text_status: public
publication: Journal of Financial Management, Markets and Institutions
volume: 2015
number: 2
pagerange: 179-202
pages: 24
event_location: Italy
issn: 2282-717X
citation:        Iori, G;    Politi, M;    Germano, G;    Gabbi, G;      (2015)    Banks' strategies and cost of money: Effects of the financial crisis on the European electronic overnight interbank market.                   Journal of Financial Management, Markets and Institutions , 2015  (2)   pp. 179-202.    10.12831/82212 <https://doi.org/10.12831/82212>.       Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/1475026/1/JFMI_3_179_2015.pdf