The Money Market and Its Interbank Segment

Patrice Poncet () and Roland Portait
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Patrice Poncet: ESSEC Business School
Roland Portait: ESSEC Business School

Chapter 3 in Capital Market Finance, 2022, pp 93-118 from Springer

Abstract: Abstract We first describe the market practices regarding interest rates and the valuation of money market instruments, then the main instruments traded on the money market: short-term marketable securities, “repos” (repurchase agreements), and other transactions. Another section covers the market participants and provides the orders of magnitude regarding the volumes of transactions. We then study the interbank market and the Central Bank’s interventions and their role in setting interest rates. Lastly, we define the main references (or indices) for money-market rates.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-84600-8_3

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DOI: 10.1007/978-3-030-84600-8_3

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