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The financial turmoil of 2007–?: a preliminary assessment and some policy considerations

Borio, Claudio E. V. - Bank für Internationalen Zahlungsausgleich <Basel> - 2008

The unfolding financial turmoil in mature economies has prompted the official and private sectors to reconsider policies, business models and risk management practices. Regardless of its future evolution, it already threatens to become one of the defining economic moments of the 21st century....

Persistent link: https://www.econbiz.de/10009305089

LEVERAGE, MORAL HAZARD AND LIQUIDITY

Acharya, Viral V.; S. Viswanathan - National Bureau of Economic Research <Cambridge, Mass.> - 2010

drying up of liquidity. Financial firms raise short-term debt in order to finance assetpurchases. When asset fundamentals … de-lever by selling assets to better-capitalizedfirms. Thus the market liquidity of assets depends on the severity of the … market liquidity can in fact be greater.... …

Persistent link: https://www.econbiz.de/10005870414

Ten propositions about liquidity crises

Borio, Claudio E. V. - Bank for International Settlements / Monetary and … - 2009

What are liquidity crises? And what can be done to address them? This short paper brings together some personal …: the distinction between idiosyncratic and systematic elements of liquidity crises; the growing reliance on funding … liquidity in a market-based financial system; the role of payment and settlement systems; the need to improve liquidity buffers …

Persistent link: https://www.econbiz.de/10009138459

Unconventional monetary policies: an appraisal

Borio, Claudio E. V.; Disyatat, Piti - Bank for International Settlements / Monetary and … - 2009

The recent global financial crisis has led central banks to rely heavily on "unconventional" monetary policies. This alternative approach to policy has generated much discussion and a heated and at times confusing debate. The debate has been complicated by the use of different definitions and...

Persistent link: https://www.econbiz.de/10009138460

In search of monetary stability: the evolution of monetary policy

Issing, Otmar - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

The mid-1980s began a period that might, in retrospect, be seen as the golden age of monetary policy. Worldwide inflation rates, which had come down from the high levels reached in the 1970s, were at the lowest level seen in a long time. In the real economy, low and stable inflation went along...

Persistent link: https://www.econbiz.de/10009138506

Systemic Risk and Deposit Insurance Premiums

Acharya, Viral V.; Santos, João A. C.; Yorulmazer, Tanju - London School of Economics and Political Science

While systemic risk—the risk of wholesale failure of banksand other financial institutions—is generally consideredto be the primary reason for supervision and regulation of thebanking industry, almost all regulatory rules treat such risk inisolation. In particular, they do not account for...

Persistent link: https://www.econbiz.de/10005869397