The purpose of this paper is to analyze the impact of preferential regulatory treatment on
banks' demand for government bonds. Using unique transaction‐level data, our analysis …

The paper proposes a set of metrics and a methodology to measure the progress that
European Union Member States are making towards the development and integration of …

Increasing demand for collateral assets in the aftermath of the financial crisis has raised
concerns about a shortage of high-quality assets (HQA). Drawing on a recent report by the …

This paper shows empirically that funding liquidity drives market liquidity. As it becomes
harder to secure term funding in the money markets, liquidity deteriorates in the Danish …

Abstract The Sovereign Debt Management Office of the Kingdom of Denmark decided in
2017 to pay direct compensation to certain financial intermediaries for providing liquidity in …

The past decade was one studded with radical economic and financial developments and
changes in the banking landscape, monetary policy, and the economic state in the …

In response to the 2007-08 financial crisis, the Basel Committee on Banking Supervision
proposed two liquidity standards to reinforce banks' resilience to liquidity risks. The purpose …

Liquidity facilitates price discovery, improves market efficiency and lowers transaction costs.
We make use of a novel dataset of daily bond fixings on Warsaw Stock Exchange's official …

This study aims to improve the knowledge around extensive asset purchase programs and
their impact on market liquidity. It documents that such programs can dampen liquidity. The …

This paper describes the Danish mortgage system by comparing it with the UK mortgage
system. The Danish mortgage system has attracted attention in the literature on the design of …