The net stable funding ratio requirement when money is endogenous
نویسنده
چکیده
T he NSFR r egul ati on r educ es bank s ' l i qui di ty r i sks by enc our agi ng the us e of depos i t f undi ng. D epos i t money i s c r eat ed by l endi ng, but the r equi r ement r es tr i c ts pos s i bi l i ti es to gr ant l oans. T h i s c ontr adi c ti on may be des ta bi l i s i ng i f ther e i s a s ubs tanti al f or ei gn debt.
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