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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/22092

Title: Overnight interbank markets and the determination of the interbank rate: A selective survey
Authors: Green, Christopher J.
Bai, Ye
Murinde, Victor
Ngoka, Kethi
Maana, Isaya
Tiriongo, Samuel
Keywords: Interbank market
Overnight rate
Bank reserves
Bank liquidity
Issue Date: 2016
Publisher: © Elsevier
Citation: GREEN, C.J., 2016. Overnight interbank markets and the determination of the interbank rate: A selective survey. International Review of Financial Analysis, 44, pp. 149-161.
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.
Description: This paper was accepted for publication in the journal International Review of Financial Analysis and the definitive published version is available at http://dx.doi.org/10.1016/j.irfa.2016.01.014
Version: Accepted for publication
DOI: 10.1016/j.irfa.2016.01.014
URI: https://dspace.lboro.ac.uk/2134/22092
Publisher Link: http://dx.doi.org/10.1016/j.irfa.2016.01.014
ISSN: 1057-5219
Appears in Collections:Published Articles (Economics)

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