Mercato monetario, banche e nuove procedure di controllo della banca centrale
DOI:
https://doi.org/10.13133/2037-3651/9721Abstract
Does central bank keep the control of bank deposits and bank rates by influ-encing the very short interest rate (overnight) on the money market? The article focuses on liquidity management under two different bank ap-proaches.
If bank is a creator of deposits, bank liquidity management influences bank rates, but deposits (money) tend to become endogenous. While, if bank operates as intermediary among competitive markets, either bank rates or deposits are endogenously determined, and monetary rates become the price that equilibrate banking activity.
Official rate adjustments have only the function of signalling the new range of equilibrating rates to banking operators.
JEL Codes: E51, E52
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