Interbank tiering and money center banks

@inproceedings{Craig2010InterbankTA,
  title={Interbank tiering and money center banks},
  author={Ben Craig and G. Peter},
  year={2010}
}
This paper provides evidence that interbank markets are tiered rather than flat, in the sense that most banks do not lend to each other directly but through money center banks acting as intermediaries. We capture the concept of tiering by developing a core-periphery model, and devise a procedure for fitting the model to real-world networks. Using Bundesbank data on bilateral interbank exposures among 1800 banks, we find strong evidence of tiering in the German banking system. Moreover… CONTINUE READING

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