Banque de France paper analyses sovereign debt crisis
High NPL and sovereign debt holdings affected banks’ interbank funding access, paper finds
A working paper published by the Banque de France investigates how eurozone banks’ holdings of risky assets affected their access to interbank funding during the sovereign debt crisis.
In Bad sovereign or bad balance sheets? Euro interbank market fragmentation and monetary policy, 2011-2015, Silvia Gabrieli and Claire Labonne present a simple theoretical model that analyses the effects of balance sheet and sovereign risk on interbank funding access and interest rates.
Gabrieli and Labonne
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