Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2009 | nr 2 (39) | 82--102
Tytuł artykułu

Fluctuations in Banking Sector Liquidity as a Symptom of Financial Instability : Selected Conclusions Based on an Analysis of the Banking Sector in Poland

Warianty tytułu
Języki publikacji
The purpose of this article is to present the conditions in which liquidity is managed at the level of an individual bank, and the mutual relations between individual liquidity and the liquidity of financial markets. It also aims to demonstrate that fluctuations in the liquidity of financial markets are among the most important symptoms and consequences of financial instability. The background to the observations, which relate for the most part to the situation on the Polish interbank market, is the events in financial markets in the second half of 2008, resulting out of the subprime crisis on the American market. The article has been structured to achieve the objectives set out above. The starting point for these considerations is a definition of financial stability, emphasising individual and systemic liquidity as a condition of its preservation. The subsequent section is devoted to individual liquidity and its management, and then a section looking at the Polish market, presenting determinants of the liquidity of the banking sector and the role of the central bank in building confidence and liquidity. (fragment of text)
Opis fizyczny
  • Allen F., Carletti E. and Gale D., Interbank Market Liquidity and Central Bank Intervention, document prepared for presentation at the Public Policy Conference in November 2008 and published in the Carnegie - Rochester Series, 9 June 2008, pp. 2, 4.
  • Bardsen G., Lindquist K-G. and Tsomocos D-P., Evaluation of Macroeconomic Models for Financial Stability Analysis, Norges Bank, 14 February 2006.
  • Bhattacharya S. and Gale D., Preference Shocks, Liquidity and Central Bank Policy, [in:] Barnett W. and Singleton K. (eds.), New Approaches to Monetary Economics, Cambridge University Press, 1987.
  • Brunnermeier M., Deciphering the 2007-2008 Liquidity and Credit Crunch, Journal of Economic Perspectives (forthcoming), draft as of 19 May 2008.
  • Financial Stability Review, European Central Bank, December 2006.
  • Frank N., Gonzalez-Hermosillo B. and Hesse H., Transmission of Liquidity Shocks:Evidence from the 2007 Subprime Crisis, IMF Working Paper No 08/200, August 2008.
  • Grzyb R., Guarantees Cover Most Deposits, "Gazeta Prawna" 15.10.2008.
  • Grzyb R., The NBP Confidence Package is Sufficient if the Situation in the West Calms Down, "Gazeta Prawna" 16.10.2008.
  • Hałaj G., A Survey of Methods of Investigating Banks' Liquidity, "Bank i Kredyt" No. 07/2008.
  • Hoccom M., The Liquidity Crunch. Causes and Consequences, Lloyds TSB Corporate Markets, 10 June 2008.
  • Kania E. and Rosiński P., Risk in Banking Operations, [in:] Jajuga K. (ed.), Risk Management, Wydawnictwo Naukowe PWN, Warsaw 2007.
  • Koziel H., The Crisis is Haunting Eastern Europe, "Parkiet" 18.10.2008.
  • National Bank of Poland Operational Plan for 2007-2009, National Bank of Poland, Warsaw, January 2007.
  • Pietrzyk G., Płynność sektora bankowego [Banking Sector Liquidity], "Gazeta Bankowa" No. 6 (954), 5-11 February 2007.
  • Recommendation P on the Monitoring of Banks' Financial Liquidity, National Bank of Poland, Commission for Banking Supervision, Warsaw 2002.
  • Resolution No. 9/2007 of the Commission for Banking Supervision of 13 March 2007 on establishing binding norms for banks' liquidity.
  • Rutkowski P., Wilkowicz Ł., Kowalczyk M.and Kozieł H., The World's Financial System Needs Repair, "Parkiet" 16.10.2008.
  • Sarr A. and Lybek T., Measuring Liquidity in Financial Markets, Working Paper No. 02/232,/IMF, Washington D.C., 2002.
  • Shostak F., What Caused the Liquidity Crunch, Ludwig von Mises Institute, 31.07.2007,
  • Speech by Jose Manuel Gonzalez-Paramo, Member of the Executive Board of the ECB, 2nd Spanish Capital Markets Forum, Madrid, 30 September 2008, www.mataf. Net
  • Survey of Financial System Stability - October 2008, National Bank of Poland, Warsaw, October 2008.
  • Szczepańska O., Sotomska-Krzysztofik P., Pawliszyn M. and Pawlikowski A., Institutional Conditions for Financial Stability on the Basis of Examples from Selected Countries, NBP Materials and Studies, Workbook No. 173, Warsaw, April 2004.
  • Twaróg E., Prime Minister! The Banks are Only Begging for a Gesture, "Puls Biznesu", 22.10.2008.
  • Weithers T., Credit Derivatives, Macro Risks and Systemic Risks, University of Chicago, 20 April 2007.
  • Więcław E., The NBP is Not Selling Francs, "Rzeczpospolita" 18 October 2008.
  • Więcław E., Polish Banks: Get Ready for Worse Times. A Discussion with Andrzej Stopczyński, Managing Director of the Bank Supervision Department in the Polish Financial Supervisory Authority, "Rzeczpospolita" 22 October 2008.
  • Wilkowicz Ł., The NBP and the Government Are Trying to Maintain Stability, "Parkiet" 14 October 2008.
  • Wilkowicz Ł., The Risk of Transfer of Cash Abroad from Poland is Very Small. A Discussion with Stanisław Kluza, Chair of the Polish Financial Supervision Authority, "Rzeczpospolita" 22 October 2008.
  • Zaleska M., Assessment of a Bank's Economic-Financial Situation, [in:] Zaleska M. (ed.), Contemporary Banking, Volume I, Difin, Warsaw 2007.
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.