Stylized facts in money markets: an empirical analysis of the eurozone data

Nolwenn Allaire, Victor Le Coz, Michael Benzaquen and Damien Challe

No 3113, Working Paper Series from European Central Bank

Abstract: Using the secured transactions recorded within the Money Markets Statistical Reporting database of the European Central Bank, we test several stylized facts regarding the interbank market of the 47-largest banks in the eurozone. We observe that the surge in the volume of traded evergreen repurchase agreements followed the introduction of the LCR regulation and we measure a rate of collateral re-use consistent with the literature. Regarding the topology of the interbank network, we confirm the high level of network stability but observe a higher density and a higher in– and out–degree symmetry than what is reported for unsecured markets. JEL Classification: E42, E51, E52, G21, G28

Keywords: collateral re-use; excess liquidity; interbank network; liquidity coverage ratio; monetary policy (search for similar items in EconPapers)
Date: 2025-09
New Economics Papers: this item is included in nep-eec, nep-mon and nep-net
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20253113

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