… The crisis taught banks that they need to hold more liquid assets even in normal times. New international bank regulation is reinforcing this orientation. It is, however, too early to tell what banks' new liquidity preference will be in the medium term …
CITATION STYLE
Ramaswamy, S., & Turner, P. (2020). Larger Central Bank Balance Sheets: A New Normal for Monetary Policy? In Asset Management at Central Banks and Monetary Authorities (pp. 41–54). Springer International Publishing. https://doi.org/10.1007/978-3-030-43457-1_3
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