Download This PaperFlight to Quality - Money Market Mutual Funds and Stablecoins During the March 2023 Banking Crisis
10 Pages Posted: 23 May 2023 Last revised: 1 Dec 2023
Date Written: May 18, 2023
Abstract
The March 2023 banking crisis prompted a flight-to-quality, with inflows into money market mutual funds and outflows from stablecoins. Similar flows from riskier to safer categories within both asset classes highlight the important role of reserve assets and issuer size.
Keywords: Silicon Valley Bank, Signature Bank, flight-to-quality, money market mutual fund, stablecoin
JEL Classification: E44, G1, G23
Suggested Citation: Suggested Citation
Oefele, Nico and Baur, Dirk G. and Smales, Lee A., Flight to Quality - Money Market Mutual Funds and Stablecoins During the March 2023 Banking Crisis (May 18, 2023). Economics Letters, Volume 234, January 2024, https://doi.org/10.1016/j.econlet.2023.111464, Available at SSRN: https://ssrn.com/abstract=4451893 or http://dx.doi.org/10.2139/ssrn.4451893
Financial Research Network (FIRN)
C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia
HOME PAGE: http://www.firn.org.au
Do you have a job opening that you would like to promote on SSRN?
Feedback
Feedback to SSRN