This paper discusses Selected Issues on Liquidity Risk Management in Fedwire Funds and Private Sector Payment for the …. Steps are needed to amend Fedwire’s settlement procedures for tri-party repo transactions, Depository Trust Company, and …

adequacy requirements, privately rational but socially inefficient disintermediation, and competitive international de-regulation … global liquidity creation by key central banks and, second, an ex-ante global saving glut, brought about by the entry of a … England’s liquidity management, regulatory failure of the FSA, an inadequate deposit insurance arrangement and deficient …

the asset that serves as collateral, specific to each agent. The valuation of this asset will reflect its liquidity as a …Secured debt has become a predominant form of credit. The purpose of this paper is to analyze collateral in a model of … collateralizable asset in contingencies. The Friedman rule is the optimal policy. For any other policy credit and the use collateral …

We examine the effects of collateral provision as a potential channel between funding liquidity tensions and the … between financial institutions to market participants that bear new liquidity risk on the market associated with collateral … scarcity of market liquidity. This channel consists in transferring the credit risk associated with refinancing operations …

carry very important consequences in derivative’s trading and risk management, such as, for example, basis risk … building block of no-arbitrage pricing theory. Nowadays, in the modern financial world after the credit crunch, some Libors are …

diffusion of collateral agreements among OTC derivatives market counterparties, and on the consequent change of paradigm for … of these effects based on the consideration of credit and liquidity variables. Then, we focus our attention on the … pricing derivatives. We illustrate the main qualitative features of the new market practice, called CSA discounting, and we …

argument for the existence of safe harbours is liquidity in the financial market. Safe harbour rules do away with a number of … legal concepts, notably those attached to traditional security, and thereby allow for an exponentiation of liquidity … liquidity. To the extent that safe harbours accelerate contagion in terms of crisis, which in principle is a valid argument …

payment, (ii) there is a shortage of liquidity that a central bank addresses through the extension of credit, (iii) money is …) with that of requiring the posting of collateral (like the European Central Bank's policy). I find that the pricing policy … can implement good allocations while the collateral policy cannot whenever collateral bears an opportunity cost …