Overnight interbank markets and the determination of the interbank rate: a selective survey

Green, Christopher J. and Bai, Ye and Murinde, Victor and Ngoka, Kethi and Maana, Isaya and Tiriongo, Samuel (2016) Overnight interbank markets and the determination of the interbank rate: a selective survey. International Review of Financial Analysis, 44 . pp. 149-161. ISSN 1057-5219

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Abstract

Overnight interbank markets provide critical facilities for the banking system to manage, pool and redistribute its cash reserves. We provide a selective survey of the literature on overnight interbank markets. We outline the typical structure of overnight markets, including the networking relationships involved, as an indispensable prerequisite for a clear understanding of the workings of these markets. We review the theoretical and empirical studies on the determination of the overnight rate, and in that context discuss the implications of the 2007–08 financial crisis. We summarise key issues for further research.

Item Type: Article
RIS ID: https://nottingham-repository.worktribe.com/output/778348
Keywords: Interbank market, Overnight rate, Bank reserves, Bank liquidity
Schools/Departments: University of Nottingham, UK > Faculty of Social Sciences > Nottingham University Business School
Identification Number: https://doi.org/10.1016/j.irfa.2016.01.014
Depositing User: Howis, Jennifer
Date Deposited: 16 Nov 2016 15:17
Last Modified: 04 May 2020 17:39
URI: http://eprints.nottingham.ac.uk/id/eprint/38460

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