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Czasopismo
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
EN
Abstrakty
EN
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)
Czasopismo
Rocznik
Numer
Strony
82--102
Opis fizyczny
Twórcy
Bibliografia
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  • 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.
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  • Resolution No. 9/2007 of the Commission for Banking Supervision of 13 March 2007 on establishing binding norms for banks' liquidity.
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  • Shostak F., What Caused the Liquidity Crunch, Ludwig von Mises Institute, 31.07.2007, www.mises.org
  • 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.
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Typ dokumentu
Bibliografia
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Identyfikator YADDA
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