Information asymmetries and market structure has been widely discussed in the current financial crisis. It is suggested that the asymmetries of information could lead to a collapse of the interbank market. We propose a microeconomic model with Cournot competition in the various regional loan and deposit markets that interact with a perfect competitive interbank market. There exist risky and safe banks that differ in the probability of solvency and there also exist divergences in the supply of deposits be- tween regions. It is proved that, with private information, a situation of collapse of the interbank market emerges, and market structure plays no role in this result.
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