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Green, Christopher J., Bai, Ye, Murinde, Victor, Ngoka, Kethi, Maana, Isaya and Tiriongo, Samuel (2016) 'Overnight interbank markets and the determination of the interbank rate: A selective survey.' International Review of Financial Analysis, 44. pp. 149-161.

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Abstract

Overnight interbank markets provide critical facilities for the banking system to manage, pool and redistribute its cash reserves. We provide a selective survey of the literature on overnight interbank markets. We outline the typical structure of overnight markets, including the networking relationships involved, as an indispensable prerequisite for a clear understanding of the workings of these markets. We review the theoretical and empirical studies on the determination of the overnight rate, and in that context discuss the implications of the 2007–08 financial crisis. We summarise key issues for further research.

Item Type: Journal Article
Keywords: Interbank market, Overnight rate, Bank reserves, Bank liquidity
SOAS Departments & Centres: Legacy Departments > Faculty of Law and Social Sciences > School of Finance and Management
ISSN: 10575219
Copyright Statement: © 2016 Elsevier Inc. All rights reserved. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
DOI (Digital Object Identifier): https://doi.org/10.1016/j.irfa.2016.01.014
Date Deposited: 03 May 2017 08:17
URI: https://eprints.soas.ac.uk/id/eprint/23916

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