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Liquidity and Transparency in Bank Risk Management

Ratnovski, Lev - International Monetary Fund (IMF) - 2013

accumulate a buffer of liquid assets, or strengthen transparency to communicate solvency. While a liquidity buffer provides … bank may choose insufficient liquidity buffers and transparency. The regulatory response is constained: while liquidity … buffers can be imposed, transparency is not verifiable. Moreover, liquidity requirements can compromise banks' transparency …

Persistent link: https://www.econbiz.de/10010790317

Externalities and Macroprudential Policy

Nicoló, Gianni De; Favara, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2012

This note overviews macroprudential policy options that have been proposed to address the systemic risks experienced during the recent financial crisis. It contributes to the policy debate by providing a taxonomy of macroprudential policies in terms of the specific negative externalities in the...

Persistent link: https://www.econbiz.de/10011142226

Shadow Banking; Economics and Policy

Claessens, Stijn; Ratnovski, Lev; Singh, Manmohan - International Monetary Fund (IMF) - 2012

This note outlines the basic economics of the shadow banking system, highlights (systemic) risks related to it, and suggests implications for measurement and regulatory approaches.

Persistent link: https://www.econbiz.de/10011245881

Global Liquidity and Drivers of Cross-Border Bank Flows

Cerutti, Eugenio; Claessens, Stijn; Ratnovski, Lev - International Monetary Fund (IMF) - 2014

This paper provides a definition of global liquidity consistent with its meaning as the â€œease of financingâ€ in … also the cyclical impact of global liquidity, with sensitivities of flows to banks decreasing with stronger macroeconomic …

Persistent link: https://www.econbiz.de/10011142075

Bailouts and Systemic Insurance

Dell'Ariccia, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2013

We revisit the link between bailouts and bank risk taking. The expectation of government support to failing banks creates moral hazard—increases bank risk taking. However, when a bank’s success depends on both its effort and the overall stability of the banking system, a government’s...

Persistent link: https://www.econbiz.de/10010790390

Operative Principles of Islamic Derivatives; Towards a Coherent Theory

Sole, Juan; Jobst, Andreas - International Monetary Fund (IMF) - 2012

underpinning Islamic finance with a view towards developing a cohesive theory of derivatives subject to shari'ahprinciples. After …

Persistent link: https://www.econbiz.de/10009654161

Developing Asean5 Bond Markets; What Still Needs to Be Done?

Gray, Simon; Jobst, Andreas; Felman, Joshua; Carvajal, Ana - International Monetary Fund (IMF) - 2011

interrelationship between central bank management of short-term interest rates and domestic currency liquidity, and development of the …

Persistent link: https://www.econbiz.de/10009151209

Asean Bond Market Development; Where Does it Stand? Where is it Going?

Pradhan, Mahmood; Peiris, Shanaka J.; Goswami, Mangal; … - International Monetary Fund (IMF) - 2011

Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond markets. Yet today these markets are not much larger, relative to GDP, than they were a decade before. How can we explain this? And does this mean that domestic markets have not,...

Persistent link: https://www.econbiz.de/10009151213

Measuring Systemic Risk-Adjusted Liquidity (SRL); A Model Approach

Jobst, Andreas - International Monetary Fund (IMF) - 2012

interconnectedness within institutions and markets on funding and market liquidity risk within financial systems. The Systemic Risk …-adjusted Liquidity (SRL) model combines option pricing with market information and balance sheet data to generate a probabilistic measure … of the frequency and severity of multiple entities experiencing a joint liquidity event. It links a firmâ€™s maturity …

Persistent link: https://www.econbiz.de/10011242398

Why Are Canadian Banks More Resilient?

Huang, Rocco; Ratnovski, Lev - International Monetary Fund (IMF) - 2009

This paper explores factors behind Canadian banks' relative resilience in the ongoing credit turmoil. We identify two main causes: a higher share of depository funding (vs. wholesale funding) in liabilities, and a number of regulatory and structural factors in the Canadian market that reduced...

Persistent link: https://www.econbiz.de/10008528633