2023 ESRB Annual Conference - Panel discussion: Evolution of liquidity risk
Channel: European Central Bank
Date: 2023-11-17

Panel discussion: Evolution of liquidity risk in an environment of higher interest rates

The recent increases in interest rates to fight inflation have brought liquidity risk to the fore. This has raised concerns about the liquidity of even the safest assets. What are the implications of the end of the low interest environment for liquidity risk and what are the macroprudential policy options?


Chair:
Fabio Natalucci, Deputy Director, International Monetary Fund


Panellists:
Viral Acharya, C.V. Staff Professor of Economics, New York University, Stern School of Business
Bruno Biais, Member of the ESRB Advisory Scientific Committee, Professor of Finance and Economics, HEC Paris
Loriana Pelizzon, Vice-Chair of the ESRB Advisory Scientific Committee, Director of the Financial Markets Department, Professor, Leibniz Institute for Financial Research SAFE and Goethe University Frankfurt
David Ramsden, Deputy Governor for Markets and Banking, Bank of England