Ulrich Bindseil

European Central Bank (ECB)

Sonnemannstrasse 22

Frankfurt am Main, 60314

Germany

  • European Central Bank (ECB)

SCHOLARLY PAPERS

34

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162

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“  I am working since November 2019 in the ECB on payment systems and market infrastructures. Fascinating and challenging, and incredibly diverse.  ”

  • European Central Bank (ECB)

Scholarly Papers (34)

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1.

Tiered CBDC and the Financial System

Number of pages: 42 Posted: 04 Jan 2020
Ulrich Bindseil
European Central Bank (ECB)
Downloads 4,292 (3,946)
Citation 6

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central bank digital currencies, central banks, financial accounts, financial instability

2.

Central Bank Digital Currency - Financial System Implications and Control

Number of pages: 39 Posted: 31 May 2019 Last Revised: 01 Aug 2019
Ulrich Bindseil
European Central Bank (ECB)
Downloads 1,522 (20,776)
Citation 5

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central bank money, central bank digital currency, central bank, electronic payments, financial accounts

3.

The Role of Central Bank Capital Revisited

Number of pages: 39 Posted: 13 Dec 2004
Ulrich Bindseil, Andres Manzanares and Benedict Weller
European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 953 (41,032)
Citation 17

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Central Bank Capital, Central Bank Independence

4.

Towards the holy grail of cross-border payments

Downloads 882 (45,728)
Citation 1

Towards the holy grail of cross-border payments

Number of pages: 41 Posted: 06 Apr 2022
Ulrich Bindseil and George Pantelopoulos
European Central Bank (ECB) and University of Newcastle (Australia)
Downloads 531 (87,412)

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cross-border payments, cross-currency payments, bitcoin, correspondent banking, stablecoins, CBDC

Towards the Holy Grail of Cross-Border Payments

ECB Working Paper No. 2022/2693
Number of pages: 59 Posted: 02 Aug 2022
Ulrich Bindseil and George Pantelopoulos
European Central Bank (ECB) and University of Newcastle (Australia)
Downloads 351 (142,693)
Citation 3

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bitcoin, CBDC, correspondent banking, cross-currency payments, interlinking, stablecoins

5.

The case for and against CBDC – five years later

Number of pages: 14 Posted: 28 Mar 2022
Ulrich Bindseil
European Central Bank (ECB)
Downloads 758 (56,111)

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central bank digital currencies, central bank money, retail payments, financial stability

6.

Bidding and Performance in Repo Auctions - Evidence from ECB Open Market Operations

Downloads 722 (59,920)
Citation 43

Bidding and Performance in Repo Auctions - Evidence from ECB Open Market Operations

Number of pages: 57 Posted: 29 May 2003
Kjell G. Nyborg, Ulrich Bindseil and Ilya A. Strebulaev
University of Zurich - Department of Banking and Finance, European Central Bank (ECB) and Stanford University - Graduate School of Business
Downloads 406 (120,536)
Citation 10

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Repo auctions, multiunit auctions, discriminatory auctions, reserve requirements, money markets, central bank, interest rates, collateral, open market operations.

Bidding and Performance in Repo Auctions: Evidence from ECB Open Market Operations

FEEM Working Paper No. 92.05
Number of pages: 59 Posted: 28 Jul 2005
Kjell G. Nyborg, Ulrich Bindseil and Ilya A. Strebulaev
University of Zurich - Department of Banking and Finance, European Central Bank (ECB) and Stanford University - Graduate School of Business
Downloads 291 (173,833)
Citation 17

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Repo auctions, Multiunit auctions, Reserve requirements, Loser's nightmare, Money markets, Central bank, Collateral, Open market operations

Bidding and Performance in Repo Auctions - Evidence from ECB Open Market Operations

Number of pages: 46 Posted: 26 May 2004
Ulrich Bindseil, Kjell G. Nyborg and Ilya A. Strebulaev
European Central Bank (ECB), University of Zurich - Department of Banking and Finance and Stanford University - Graduate School of Business
Downloads 25 (832,751)
Citation 1
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Multiunit auctions, reserve requirements, loser's nightmare, money markets, collateral, repo auctions, central bank, open market operations

7.

Central Bank Digital Currency: Functional Scope, Pricing and Controls

ECB Occasional Paper No. 2021/286
Number of pages: 36 Posted: 02 Dec 2021
Ulrich Bindseil, Fabio Panetta and Ignacio Terol
European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 699 (62,552)

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central bank digital currency, cross-border payments, financial stability, means of payment, payment solution, store of value

8.

Destabilisation of Bank Deposits Across Destinations – Assessment and Policy Destinations

Number of pages: 40 Posted: 09 Aug 2023 Last Revised: 17 Sep 2023
Ulrich Bindseil and Richard Senner
European Central Bank (ECB) and European Central Bank (ECB)
Downloads 609 (74,675)

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bank funding, bank runs, flows of funds, financial stability, liquidity crisis

9.

The Operational Target of Monetary Policy and the Rise and Fall of Reserve Position Doctrine

Number of pages: 46 Posted: 03 Dec 2004
Ulrich Bindseil
European Central Bank (ECB)
Downloads 584 (78,560)
Citation 1

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operational target of monetary policy, monetary policy instruments, monetary policy implementation, instruments' choice problem

10.

Credit Risk Mitigation in Central Bank Operations and its Effects on Financial Markets: The Case of the Eurosystem

ECB Occasional Paper No. 49
Number of pages: 38 Posted: 12 Aug 2006
Ulrich Bindseil and Francesco Papadia
European Central Bank (ECB) and European Central Bank (ECB)
Downloads 553 (84,099)

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11.

Monetary Policy Implementation: A European Perspective

NHH Department of Finance & Management Science Discussion Paper No. 2007/10
Number of pages: 36 Posted: 12 Apr 2007
Ulrich Bindseil and Kjell G. Nyborg
European Central Bank (ECB) and University of Zurich - Department of Banking and Finance
Downloads 424 (115,668)
Citation 6

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12.

The Use of Portfolio Credit Risk Models in Central Banks

ECB Occasional Paper No. 64
Number of pages: 45 Posted: 18 Jul 2007
Ulrich Bindseil, Han van der Hoorn, Ken Nyholm and Henrik Schwartzlose
European Central Bank (ECB), PGGM Investments, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 317 (159,738)

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13.

Central Bank Forecasts of Liquidity Factors: Quality, Publication and the Control of the Overnight Rate

Number of pages: 42 Posted: 24 Feb 2003
Ulrich Bindseil
European Central Bank (ECB)
Downloads 270 (188,700)
Citation 1

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Monetary Policy instruments; money market; signal extractions

14.

The Longer Term Refinancing Operations of the ECB

Number of pages: 60 Posted: 30 Nov 2004
Tobias Linzert, Dieter Nautz and Ulrich Bindseil
European Central Bank (ECB), Free University of Berlin (FUB) - Department of Economics and European Central Bank (ECB)
Downloads 251 (202,954)
Citation 3

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Monetary Policy Instruments of the ECB, Auctions, Winner's Curse, Panel Analysis of Bidding Behavior

15.

The Optimal Width of the Central Bank Standing Facilities Corridor and Banks' Day - to - Day Liquidity Management

ECB Working Paper No. 1350
Number of pages: 37 Posted: 07 Jun 2011
Ulrich Bindseil and Juliusz Jablecki
European Central Bank (ECB) and National Bank of Poland
Downloads 246 (206,940)
Citation 11

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standing facilities, money market, liquidity management

16.

Some Pre-1800 French and German Central Bank Charters and Regulations

Number of pages: 69 Posted: 23 May 2018 Last Revised: 21 Oct 2020
Ulrich Bindseil
European Central Bank (ECB)
Downloads 206 (244,899)

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Early central banks, central bank mandates, central bank regulations, central bank operations, central bank governance

17.

Excess Reserves and the Implementation of Monetary Policy of the ECB

Number of pages: 42 Posted: 30 Nov 2004
Ulrich Bindseil, Gonzalo Camba-Mendez, Astrid Hirsch and Benedict Weller
European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 195 (257,382)

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excess reserves, monetary policy implementation, liquidity management

18.

Central Bank Collateral, Asset Fire Sales, Regulation and Liquidity

ECB Working Paper No. 1610
Number of pages: 35 Posted: 30 Nov 2013
Ulrich Bindseil
European Central Bank (ECB)
Downloads 167 (294,873)
Citation 6

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asset liquidity, liquidity regulation, bank run, central bank collateral framework, unconventional monetary policy

19.

Asset Liquidity, Central Bank Collateral, and Banks’ Liability Structure

Number of pages: 44 Posted: 09 Oct 2017 Last Revised: 11 Oct 2017
Ulrich Bindseil, Georgiana Dragu, Alexander Düring and Julian von Landesberger
European Central Bank (ECB), European Central Bank (ECB), European Central Bank and European Central Bank (ECB)
Downloads 148 (326,193)
Citation 1

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Asset Liquidity, LOLR, Bank Run, Central Bank Collateral Framework, Unconventional Monetary Policy

20.

A Structural Model of Central Bank Operations and Bank Intermediation

ECB Working Paper No. 1312
Number of pages: 36 Posted: 06 Apr 2011
Ulrich Bindseil and Juliusz Jablecki
European Central Bank (ECB) and National Bank of Poland
Downloads 148 (326,193)

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bank intermediation, central bank operations, standing facilities, central bank crisis measures

21.

Critique of Accommodating Central Bank Policies and the ‘Expropriation of the Saver’

ECB Occasional Paper No. 161
Number of pages: 64 Posted: 25 Sep 2015
Ulrich Bindseil, Clemens Domnick and Joerg Zeuner
European Central Bank (ECB), Kreditanstalt für Wiederaufbau (KFW) and International Monetary Fund (IMF)
Downloads 138 (344,792)
Citation 6

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Real interest rate, natural rate, zero lower bound, growth

22.

Equilibrium Bidding in the Eurosystem's Open Market Operations

Number of pages: 54 Posted: 20 Jan 2003
Ulrich Bindseil
European Central Bank (ECB)
Downloads 135 (350,802)
Citation 4

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Open market operations, tender procedures, central bank liquidity management

23.

Central Bank Liquidity Provision, Risk-Taking and Economic Efficiency

ECB Working Paper No. 1542
Number of pages: 37 Posted: 19 Jun 2013
Ulrich Bindseil, Juliusz Jablecki and Juliusz Jablecki
European Central Bank (ECB) and National Bank of PolandUniversity of Warsaw - Faculty of Economic Sciences
Downloads 126 (369,495)
Citation 7

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central bank, risk-taking, collateral policy, economic efficiency

24.

The Supply and Demand for Eurosystem Deposits the First 18 Months

Number of pages: 54 Posted: 12 Dec 2002
Ulrich Bindseil and Franz Seitz
European Central Bank (ECB) and Technical University of Applied Sciences Weiden
Downloads 125 (371,680)
Citation 1

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Monetary policy instruments, money markets, money market rate

25.

Dual Liquidity Crises Under Alternative Monetary Frameworks: A Financial Accounts Perspective

ECB Working Paper No. 1478
Number of pages: 63 Posted: 18 Oct 2012
Ulrich Bindseil and Adalbert Winkler
European Central Bank (ECB) and Frankfurt School of Finance & Management
Downloads 99 (439,385)

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liquidity crisis, bank run, sovereign debt crisis, central bank co-operation, gold standard

26.

Lessons from Early Central Banking for Today

Number of pages: 14 Posted: 11 Jan 2022
Ulrich Bindseil
European Central Bank (ECB)
Downloads 66 (558,251)

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origins of central banking, financial history, central bank money

27.

Fire Sales, the LOLR and Bank Runs With Continuous Asset Liquidity

Number of pages: 19 Posted: 03 Dec 2020
Ulrich Bindseil and Edoardo Lanari
European Central Bank (ECB) and Institute of Mathematics, Czech Academy of Sciences,
Downloads 58 (595,216)

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Fire Sales, lender-of-last resort, bank run, capital structure, asset liquidity, collateral, bank intermediation spreads.

28.

Die Stabilisierungswirkungen Von Mindestreserven

Bundesbank Series 1 Discussion Paper No. 1997,01
Number of pages: 70 Posted: 07 Jun 2016
Ulrich Bindseil
European Central Bank (ECB)
Downloads 52 (626,115)

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29.

Reserve Requirements and Economic Stabilization

Bundesbank Series 1 Discussion Paper No. 1997,01E
Number of pages: 68 Posted: 07 Jun 2016
Ulrich Bindseil
European Central Bank (ECB)
Downloads 50 (636,972)

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30.

Early French and German Central Bank Charts and Regulations

Number of pages: 94 Posted: 30 Sep 2019
Ulrich Bindseil
European Central Bank (ECB)
Downloads 45 (665,676)

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central bank governance, central bank mandates, central bank operations, central bank regulations, origins of central banking

31.

Stress Testing with Multi-Faceted Liquidity: The Central Bank Collateral Framework as a Financial Stability Tool

ECB Working Paper No. 2023/2814
Number of pages: 74 Posted: 11 May 2023
Angelo Cuzzola, Claudio Barbieri and Ulrich Bindseil
Scuola Superiore Sant’Anna, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 41 (690,287)

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Asset liquidity, Central Bank Collateral Framework, Collateral, Lender-Of-Last Resort, Stress test

32.

Efficient and Universal Frameworks (EUF) for Monetary Policy Implementation

Number of pages: 42 Posted: 02 Jun 2023
Ulrich Bindseil and Flemming Reinhardt Würtz
European Central Bank (ECB) and European Central Bank (ECB)
Downloads 21 (851,276)

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operational framework, monetary policy implementation

33.

Zombification and Central Bank Risk Taking: The LOLR as a Signal Extraction Problem

Number of pages: 18 Posted: 20 Jul 2023
Ulrich Bindseil and Juliusz Jablecki
European Central Bank (ECB) and National Bank of Poland
Downloads 15 (898,312)

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LOLR, zombification, central bank, risk-taking, collateral policy, economic growth

34.

The Eurosystem Collateral Framework Explained

ECB Occasional Paper No. 189
Posted: 10 Jun 2017
Ulrich Bindseil, Marco Corsi, Benjamin Sahel and Ad Visser
European Central Bank (ECB), European Central Bank (ECB), European Central Bank and European Central Bank (ECB)

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central banking, collateral, ECB, eurosystem, lender of last resort, operations