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ECB Conference on Money Markets 2024 – Call for papers

The annual ECB Conference on Money Markets brings together academics, market practitioners and central bankers to discuss money markets, monetary policy implementation and central bank operational frameworks. Through a combination of research presentations, insights from market participants and high-profile keynote speeches, the conference aims to advance our understanding of how to ensure an efficient monetary policy transmission through money markets.

Call for papers

Submission deadline: 31 May 2024


In 2024, the ECB Conference on Money Markets will devote particular attention to the changes in money markets during their transition towards a new environment with lower levels of central bank reserves, both in the euro area and elsewhere. It will also focus on the evolution of operational frameworks for monetary policy implementation. Within this broader context, topics of interest for submission include, but are not limited to:

  • Monetary policy implementation, covering for example the:
    • time-varying demand for central bank reserves
    • implications for markets of providing reserves via credit operations or asset purchases
    • effectiveness of money markets in redistributing central bank liquidity
    • the trade-off between volatility and controllability of short-term interest rates
    • implications of money market frictions, including segmentation and collateral scarcity
  • Financial institutions’ funding strategies in view of regulatory requirements and evolving central bank operational frameworks
  • Evolving features of unsecured and secured money markets, for example as regards the participants and the motivations for trading
  • The role of non-bank financial intermediaries and CCPs in money markets
  • The role of screening and monitoring in the money market as a way to encourage market discipline
  • Technological innovation in the field of market infrastructures, payment systems, and digital currencies that may affect money markets and monetary policy implementation
  • Monetary policy implementation and its interaction with initiatives to address climate change

We particularly welcome submissions focussing on the euro area.

Keynote speakers

  • Isabel Schnabel, Member of the Executive Board, European Central Bank
  • Darrell Duffie, Adams Distinguished Professor of Management and Professor of Finance, Stanford University
  • Antoine Martin, Member of the Governing Board, Swiss National Bank


Papers should be submitted in a portable document format (PDF) to MMConference@ecb.europa.eu by 31 May 2024. Submissions and presentations by female researchers are particularly encouraged. If your paper is accepted, you will be notified by end-July 2024.

Organisational information

The annual ECB Conference on Money Markets will take place in hybrid format (both onsite and online) at the ECB premises in Sonnemannstrasse 20, 60314 Frankfurt am Main. We encourage presenters and discussants to attend in person. In line with ECB rules, travel and accommodation expenses of academic speakers will be reimbursed. Speakers from central banks, other official institutions and financial institutions are expected to cover their own expenses. The conference will start on the morning of 7 November 2024 and will end around lunchtime on 8 November 2024. There will be a seated dinner for active participants on the first day of the conference.

Conference organisers

  • María Encío, Directorate General Market Operations – Money Market and Liquidity Division
  • Danielle Kedan, Directorate General Monetary Policy – Monetary Policy Strategy Division
  • Christian Kubitza, Directorate General Research – Financial Research Division
  • Barbara Meller, Directorate General Market Operations – Market Operations Analysis Division
  • Sebastiaan Pool, Directorate General Monetary Policy – Monetary Policy Strategy Division
  • Bernd Schwaab, Directorate General Research – Financial Research Division