The paper proceeds as follows: Section ‘The historic role
of FVA in crises’ sets the scene by presenting FVA and
briefly discussing the role of FVA in previous crises; Section
‘Monetary transmission mechanism’ positions the
model developed within the monetary economics literature;
Section ‘Model development’ develops and discusses
the model proposed; Section ‘Empirical example’ provides
an empirical example where the model is used to interpret
the information; Section ‘Implications, shortcomings and
opportunities for further research’ discusses the implications,
shortcomings and opportunities for further research
resulting from the model and Section ‘Conclusion’ provides
the conclusion.