What is the main driver of increasing Target2 liabilities?
Current Account Financial Account OMO
Other
I think the following paper will help you out in this regard:
Explaining the surge of TARGET2 liabilities in Italy: less simple than the ECB's narrative
E Dor - Available at SSRN 2860545, 2016 - papers.ssrn.com
I think this article will be helpful
https://www.bbvaresearch.com/wp-content/uploads/2017/01/Target2_20170130VF.pdf
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