The importance of money markets (European Central Bank)

June 2012

KEYWORDS: banks, Eurozone, Morgan Stanley, central banks, global financial crisis, interest rate spreads, money markets, EU, European Union, price discovery, information aggregation, counterparty risk, sub-prime mortgage market, mortgage-backed securities, collateralized debt obligations, asset-backed commercial paper market, ABCP, market participants, credit risk, European Central Bank, shadow banking, monetary financial institution, MFI, home bias, market efficiency, Liquidity, leverage, capital ratio, government debt, European Stability Mechanism, over-the-counter derivatives, OTC derivatives, central counterparties, CCP, net stable funding ratio, NSFR, liquidity coverage ratio, LCR, collateral, money market funds

Authors:

Benoît Cœuré

Organizations:
  • European Central Bank

Summary:

Speech by Benoît Cœuré, Member of the Executive Board of the European Central Bank at the Morgan Stanley 16th Annual Global Investment seminar, Tourrettes, Provence, June 16, 2012.

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