Research Discussion Paper – RDP 2019-10 Emergency Liquidity Injections
Nicholas Garvin
October 2019
Contents
- Introduction
- The Model
- Liquidity Injection through Unsecured Lending
- Liquidity Injection through Secured Lending
- Liquidity Support through Securities Purchases
- Model Generalisations and Extensions
- Conclusion
- Appendix A: Emergency Liquidity Injection Policies in Europe and the United States
- Appendix B: Proofs
- References
The views presented here do not necessarily represent those of the Reserve Bank of Australia. Any errors are my own. For help with this work I owe thanks to Xavier Freixas, Anthony Brassil, Christian Castro, Luci Ellis, Falko Fecht, Fabrizio Germano, Jonathan Kearns, Kebin Ma, Frederic Malherbe, José-Luis Peydró, John Simon and Tomas Williams, among others.