Narrow banking with modern depository institutions: Is there a reason to panic?
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- dc.contributor.author Rodríguez Mendizábal, Hugoca
- dc.date.accessioned 2017-01-17T09:00:47Z
- dc.date.available 2017-01-17T09:00:47Z
- dc.date.issued 2017-01
- dc.description.abstract What would be the effect of imposing a 100 percent reserve requirement to depository institutions? This paper contends that reserves do not compete with loans on the asset side of bank’s balance sheets. Thus, they only affect liquidity provision by banks indirectly through their impact on the cost of loan and deposit creation. This cost could be driven to zero if, as the Eurosystem does, central banks remunerated required reserves at the same rate of their refinancing operations. The paper argues that the crucial constraint imposed by a fully backed banking system is collateral availability by depository institutions.ca
- dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
- dc.format.mimetype application/pdfca
- dc.identifier.uri http://hdl.handle.net/10230/27912
- dc.language.iso engca
- dc.relation.ispartofseries ADEMU Working Paper Series;52
- dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
- dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.ca
- dc.rights.accessRights info:eu-repo/semantics/openAccessca
- dc.rights.uri http://creativecommons.org/licenses/by/4.0/ca
- dc.subject.keyword Firm financingen
- dc.subject.keyword Investmenten
- dc.subject.keyword Debt maturityen
- dc.subject.keyword Credit spreadsen
- dc.subject.keyword Debt dilutionen
- dc.subject.keyword Narrow bankingen
- dc.subject.keyword Endogenous moneyen
- dc.subject.keyword Interbank marketen
- dc.subject.keyword Bank solvencyen
- dc.subject.keyword Liquidityen
- dc.subject.keyword Monetary policyen
- dc.title Narrow banking with modern depository institutions: Is there a reason to panic?ca
- dc.type info:eu-repo/semantics/workingPaperca