The importance of money markets (European Central Bank)

June 2012

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

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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