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Central bank liquidity lines have gained momentum since the global financial crisis as a crosscurrency liquidity … management tool. We provide a complete timeline of the ECB liquidity line announcements and study their signalling and spillback … effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX …
Persistent link: https://www.econbiz.de/10015059508
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country
Persistent link: https://www.econbiz.de/10012679475
The recent credit crisis started as a credit shock and then rapidly promulgated in the form of market and funding illiquidity before inducing solvency problems at some financial institutions. This column presents empirical evidence mapping the transmission channels of the crisis
Persistent link: https://www.econbiz.de/10012678160
We examine the linkages between market and funding liquidity pressures, as well as their interaction with solvency … order to test for the transmission of liquidity shocks across U.S. financial markets. It is found that the interaction …
Persistent link: https://www.econbiz.de/10014409053
Developing a systemic liquidity stress testing tool is challenging due to data constraints and hard-to-model behavioral … factors. There has yet to be a uniformly accepted model partly because the nature of systemic liquidity risks differs … significantly across countries. This paper offers a simple Excel-based tool to assess the high-level impact of aggregate liquidity …
Persistent link: https://www.econbiz.de/10015059893
borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity … shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric … of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains …
Persistent link: https://www.econbiz.de/10010790405
play a role in Turkey's monetary transmission mechanism. Specifically, bank liquidity is found to have a significant effect … sector, depending on its liquidity position. …
Persistent link: https://www.econbiz.de/10005248226
International policy efforts to strengthen financial systems have highlighted the role of liquidity. This paper … explores a framework to assess arrangements for market liquidity and lays out elements of systemic liquidity policy. Robust … arrangements for liquidity provide confidence to market participants that liquidity can be mobilized on demand in a predictable and …
Persistent link: https://www.econbiz.de/10005604876
Intro -- Contents -- I. INTRODUCTION -- II. A LARGE DIVERSITY OF MONETARY POLICY COMMITTEES -- III. NORMATIVE ISSUES IN MONETARY POLICY COMMITTEE DESIGN -- IV. PREFERENCE AGGREGATION IN MONETARY POLICY COMMITTEES -- V. BELIEF AGGREGATION IN MONETARY POLICY COMMITTEES -- VI. SUMMARY AND...
Persistent link: https://www.econbiz.de/10012691014
Intro -- Contents -- I. INTRODUCTION -- II. WHAT IS AN FSR AND WHO PUBLISHES IT? -- III. ASSESSING THE FSRS -- IV. HOW DO EXISTING FSRS COMPARE TO THE PROPOSED CRITERIA? -- V. CONCLUSIONS -- REFERENCES.
Persistent link: https://www.econbiz.de/10012691057