{"product_id":"0825303161926","title":"Kolexxxion (Acapellas)","description":"This paper analyses the liquidity effect in Norway by examining the relationship between a range of liquidity variables and five different measures of the short-term interbank premium. In a floor system the key policy rate is equal to banks' deposit rate in the central bank, and as such, this analysis provides new information on the liquidity effect in a floor system. Both excess liquidity (total central bank reserves in the banking system) and structural liquidity (central bank reserves in the system before Norges Banks' market operations) have, as expected, a negative a significant effect on almost all dependent variables. Furthermore, in periods of financial turmoil European and Norwegian banks may face higher USD rates in the interbank market either because of a general USD liquidity premium or an institution specific credit premium. My analysis provides additional insight in the division between the liquidity premium and the credit premium in a way, to my knowledge, not done in earlier literature. The results indicate that during the financial crisis (2007-2009) the liquidity premium dominated in USD as the availability of credit deteriorated.","brand":"The Center for Financial Stability","offers":[{"title":"Default Title","offer_id":47090819694832,"sku":"0825303161926","price":15.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/0825303161926_p0.jpg?v=1763527661","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/0825303161926","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}