Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/297940 
Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Central Bank Review (CBR) [ISSN:] 1303-0701 [Volume:] 21 [Issue:] 4 [Year:] 2021 [Pages:] 119-129
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
We investigate if the Bank of England's liquidity facilities encourage some counterparties to participate more than others and if the use of some collateral assets is promoted more than others. Between 2010 and 2016, there was regular usage of two facilities: Indexed Long-Term Repos (ILTR) and the Funding for Lending Scheme (FLS). We show that participation in ILTR is consistent with safe counterparties using the facilities to meet their liquidity needs. Collateral assets used for FLS are less liquid. Riskier and larger institutions are more likely to pre-position collateral in the FLS, but these counterparties do not subsequently draw upon FLS more than others do.
Schlagwörter: 
Collateral assets
Counterparties
Money demand
JEL: 
E41
E58
G21
G28
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