Zur Ökonomik des Vertrauens im Interbankenmarkt - die Krise 2007-2009

The collapse of the interbank market is considered one of the main features of the financial crisis. Normally, banks balance their liquidity differences in this market, while the total money supply remains unchanged. However, since September 2008, banks have increasingly turned to central banks for liquidity support, which are actually meant to act only as lenders of last resort. In many comments and assessments, there is frequent mention of a crisis of confidence between banks in this context. At the same time, central banks worldwide are injecting liquidity into the money markets. Are they trying to restore confidence with this? Can it work? And why does trust play such a crucial role in the money market?.