Key points are not available for this paper at this time.
Jean-Charles Rochet, Jean Tirole, Interbank Lending and Systemic Risk, Journal of Money, Credit and Banking, Vol. 28, No. 4, Part 2: Payment Systems Research and Public Policy Risk, Efficiency, and Innovation (Nov., 1996), pp. 733-762
Rochet et al. (Fri,) studied this question.