Studie
Structural liquidity: What has driven the historical development and what might occur in the years ahead?
This memo, authored by Martin Bjørlo and Marius Hagen from Norges Bank, examines the historical development of structural liquidity and its potential trajectory in the coming years. It details the influence of government transactions, liquidity management policies, and the Liquidity Coverage Ratio (LCR) on the banking system. The memo provides a decomposition of the factors affecting structural liquidity over time and technical projections that incorporate the working group’s recommendations on government transactions. It also discusses the implications for central bank operations and money market dynamics. Structural shifts such as higher structural liquidity levels are expected, with potential impacts on market premiums and central bank balance sheet adjustments.
Publisert
Eier
Norges Bank
Forfattere
Martin Bjørlo og Marius Hagen
Språk
norsk (bokmål)
Kilde
Tema
økonomi