Abstract
For many years, the unsecured inter-bank market has been considered the archetype of an efficient market. The participants are all professionals, and consequently they are supposed to be adequately equipped to assess the risks related to market participation. The efficiency of the inter-bank market worldwide is also confirmed by the high number of participants, the significant degree of market breadth and depth, and the narrow bid-ask spreads.
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References
Banca d’Italia. (2008). Annual Report, May.
Banca d’Italia. (2009). Annual Report, May.
Eisenschmidt J and Tapking J. (2009). Liquidity risk premia in unsecured interbank money markets. Working Paper Series, European Central Bank, no. 1025, March.
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© 2010 Gianfranco A. Vento and Pasquale La Ganga
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Vento, G.A., La Ganga, P. (2010). Inter-bank Market and Liquidity Distribution during the Great Financial Crisis: The e-MID Case. In: Fiordelisi, F., Molyneux, P., Previati, D. (eds) New Issues in Financial and Credit Markets. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230302181_7
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DOI: https://doi.org/10.1057/9780230302181_7
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32478-1
Online ISBN: 978-0-230-30218-1
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