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Non-bank dealing and liquidity bifurcation in fixed-income markets / by Michael Brolley and David A. Cimon.: FB3-5/2025-2E-PDF

"Non-bank financial institutions, such as principal-trading firms and hedge funds, increasingly compete with bank-owned dealers in fixed-income markets. Some market participants worry that if non-bank financial institutions push out established bank dealers, liquidity will become unreliable during times of stress. We model non-bank entry and state-dependent liquidity provision. Non-bank participants improve liquidity more during normal times than in stress, leading to a bifurcation of liquidity"--Abstract, page ii.

Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.950567&sl=0

Publication information
Department/Agency
  • Bank of Canada, issuing body.
TitleNon-bank dealing and liquidity bifurcation in fixed-income markets / by Michael Brolley and David A. Cimon.
Series title
  • Staff working paper = Document de travail du personnel, 1701-9397 ; 2025-2
Publication typeMonograph - View Master Record
Language[English]
FormatDigital text
Electronic document
Note(s)
  • ISSN assigned to different series.
  • "Last updated: January 8, 2025."
  • Includes bibliographical references (pages 29-31).
  • Includes abstract in French.
Publishing information
  • [Ottawa] : Bank of Canada = Banque du Canada, 2025.
  • ©2025
Author / Contributor
  • Brolley, Michael, author.
Description1 online resource (ii, 41 pages) : illustrations, graphs.
Catalogue number
  • FB3-5/2025-2E-PDF
Subject terms
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