Publication

This paper analyzes the properties of data on credit relationships between banks in terms of overnight loans during the period 1999-2010 involving e-MID, an electronic market for interbank deposits in the Euro area and the US. The authors show that these relationships, or networks, appear to be random from day to day, but can be seen to have significant structures over the long term. The paper also identifies the global financial crisis as a significant structural break for many network measures.