Showing 1 - 10 of 9,998
Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non … provides policy-relevant lessons. International spillovers of monetary policy and risk sentiment through global liquidity … liquidity provision. Strong prudential policies in the home countries of global banks and official facilities reduce funding …
Persistent link: https://www.econbiz.de/10014322743
We study the resolution of global banks by national regulators. Single-point-of-entry (SPOE) resolution, where loss-absorbing capital is shared across jurisdictions, is efficient but may not be implementable. First, when expected transfers across jurisdictions are too asymmetric, national...
Persistent link: https://www.econbiz.de/10012452983
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10012471010
liquidity and liability management more generally …
Persistent link: https://www.econbiz.de/10012467391
We characterize how U.S. global systemically important banks (GSIBs) supply short-term dollar liquidity in repo and …-of-second-to-last-resort". Using daily supervisory bank balance sheet information, we find that U.S. GSIBs modestly increase their dollar liquidity … increases, and during the balance sheet taper of the Federal Reserve. The increase in the dollar liquidity provision is mainly …
Persistent link: https://www.econbiz.de/10012481346
Global banks use their global balance sheets to respond to local monetary policy. However, sources and uses of funds are often denominated in different currencies. This leads to a foreign exchange (FX) exposure that banks need to hedge. If cross-currency flows are large, the hedging cost...
Persistent link: https://www.econbiz.de/10012455365
economy-wide sales of external assets. Consistent with our theory, we find that the predicted liquidity shock has a strong … liquidity shocks, the liquidation price they can get will be lower when buyers know that they have more information on … expectation of future liquidity problems export relatively more FPI than FDI, and (2) this effect strengthens as the source …
Persistent link: https://www.econbiz.de/10012462924
Emerging economies experience sudden stops in capital inflows. As we have argued in Caballero and Krishnamurthy (2002), having access to monetary policy during these sudden stops is useful, but mostly for insurance' rather than for aggregate demand reasons. In this environment, a central bank...
Persistent link: https://www.econbiz.de/10012469099
Required reserves on banks' deposit liabilities have been utilized by both industrial and developing countries to discourage and sterilize international capital flows. In this paper we utilize an open economy macro model incorporating bank credit to evaluate this policy. The model suggests that...
Persistent link: https://www.econbiz.de/10012473522
This paper deals with the relations among international liquidity,the exchange-rate regime and the effectiveness of … provision of liquidity …
Persistent link: https://www.econbiz.de/10012477984