Mapping the UK interbank system

Sam Langfield, Zijun Liu and Tomohiro Ota

Journal of Banking & Finance, 2014, vol. 45, issue C, 288-303

Abstract: We present new evidence on the structure of interbank connections across key markets: derivatives, marketable securities, repo, unsecured lending and secured lending. Taken together, these markets comprise two networks: a network of interbank exposures and a network of interbank funding. Network structure varies across and within these two networks, for reasons related to markets’ different economic functions. Credit risk and liquidity risk therefore propagate in the interbank system through different network structures. We discuss the implications for financial stability.

Keywords: Interbank markets; Core-periphery; Intermediation; Financial networks; Market microstructure (search for similar items in EconPapers)
JEL-codes: D85 G21 L14 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (129)

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Working Paper: Mapping the UK interbank system (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbfina:v:45:y:2014:i:c:p:288-303

DOI: 10.1016/j.jbankfin.2014.03.031

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