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| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | The Swiss franc Libor in the course of the financial turmoil |
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| Institution | University of Zurich |
| Faculty | Faculty of Economics, Business Administration and Information Technology |
| Number of Pages | 53 |
| Date | 2013 |
| Abstract Text | The three-month Swiss franc Libor serves as a reference rate for the Swiss National Bank (SNB). As a first step, the thesis aims to assess whether the reference rate was subject to risk premia during the financial market turmoil. The emergence of risk premia could have jeopardized the effectiveness of monetary policy which is evaluated as a second step. The results suggest that the reference rate was driven by credit and liquidity risk premia during the financial market turmoil. However, the SNBâs monetary policy proved to be effective to counteract the disturbances on the Swiss franc interbank market. |
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