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01489nam a2200217Ia 4500 |
| 001 |
10.1016-j.ribaf.2016.01.012 |
| 008 |
220511s2019 CNT 000 0 und d |
| 020 |
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|a 02755319 (ISSN)
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| 245 |
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|a From organization to activity in the US collateralized interbank market
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| 260 |
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|b Elsevier Ltd
|c 2019
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| 856 |
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|z View Fulltext in Publisher
|u https://doi.org/10.1016/j.ribaf.2016.01.012
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|a This paper studies and connects market organization and activity in the US collateralized interbank market using an assumption-neutral approach. We apply cluster analysis to aggregate activity factors suggested by prior studies to support two market organizations: three-tier and core-periphery. We find that four bank-specific factors and one economic-conditions factor explain interbank activity for both alternative organizations. We also find evidence that the interbank market organization affects institutions’ borrowing and lending. While both organizations moderate interbank activity, the three-tier structure detects distinct market operations which are not represented in the core-periphery structure. © 2016 Federal Reserve Bank of Cleveland
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|a Cluster analysis
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|a Collateralized interbank market
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|a Interbank activity factors
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| 650 |
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|a Latent factor analysis
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| 650 |
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|a Market organization
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| 650 |
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|a Tiering
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| 700 |
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|a Oet, M.V.
|e author
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|a Ong, S.J.
|e author
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| 773 |
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|t Research in International Business and Finance
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