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Fragility of secured credit chains
Gottardi, Piero; Maurin, Vincent; Monnet, Cyril - 2023
collateral create fragility. A dealer stands between a borrower and a financier. The dealer borrows from the financier to fund … borrower, forming a credit chain. Intermediation profits can thus act as collateral for the loan to fund the dealer's own … fragility in the chain. The arrival of news about the value of the revenue of the intermediation activity further increases …
Persistent link: https://www.econbiz.de/10014374549
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Fragility of secured credit chains
Gottardi, Piero; Maurin, Vincent; Monnet, Cyril - 2023 - This version: February, 2023
collateral create fragility. A dealer stands between a borrower and a financier. The dealer borrows from the financier to fund … borrower, forming a credit chain. Intermediation profits can thus act as collateral for the loan to fund the dealer's own … fragility in the chain. The arrival of news about the value of the revenue of the intermediation activity further increases …
Persistent link: https://www.econbiz.de/10014250942
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Fragility of secured credit chains
Gottardi, Piero; Maurin, Vincent; Monnet, Cyril - 2023 - This version: February, 2023
collateral create fragility. A dealer stands between a borrower and a financier. The dealer borrows from the financier to fund … borrower, forming a credit chain. Intermediation profits can thus act as collateral for the loan to fund the dealer's own … fragility in the chain. The arrival of news about the value of the revenue of the intermediation activity further increases …
Persistent link: https://www.econbiz.de/10014251897
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Financial fragility with collateral circulation
Gottardi, Piero; Maurin, Vincent; Monnet, Cyril - 2021
Persistent link: https://www.econbiz.de/10012433507
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Equilibrium and Welfare in Markets with Financially Constrained Arbitrageurs
Gromb, Denis; Vayanos, Dimitri - C.E.P.R. Discussion Papers - 2001
We propose a multi-period model in which competitive arbitrageurs exploit discrepancies between the prices of two identical risky assets, traded in segmented markets. Arbitrageurs need to collateralize separately their positions in each asset, and this implies a financial constraint limiting...
Persistent link: https://www.econbiz.de/10005666703
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Saudi Arabia; Financial System Stability Assessment: Update
International Monetary Fund (IMF); International … - 2012
An update on Saudi Arabia’s Financial System Stability Assessment (FSAP) is presented. Saudi Arabia has confronted the global financial crisis from a position of strength, and took decisive steps to manage the impact of the crisis. As a result, the financial system has weathered the...
Persistent link: https://www.econbiz.de/10011244277
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Central Bank Collateral Frameworks; Principles and Policies
McCaughrin, Rebecca; Gray, Simon; Chailloux, Alexandre - International Monetary Fund (IMF) - 2008
Central bank collateral policies came under pressure with the 2007-08 financial market crisis. This paper addresses the … rationale for and constraints in taking collateral, and recent practices in different collateral frameworks. It then considers … the risks of adverse selection. The paper concludes that (i) the collateral framework needs to include market incentives …
Persistent link: https://www.econbiz.de/10005263899
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Making OTC Derivatives Safe; A Fresh Look
Singh, Manmohan - International Monetary Fund (IMF) - 2011
Recent regulatory efforts, especially in the U.S. and Europe, are aimed at reducing moral hazard so that the next financial crisis is not bailed out by tax payers. This paper looks at the possibility that central counterparties (CCPs) may be too-big-to-fail entities in the making. The present...
Persistent link: https://www.econbiz.de/10008876583
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Macroprudential Policies for a Resource Rich Economy The Case of Mongolia
Maino, Rodolfo; Imam, Patrick A.; Ojima, Yasuhisa - International Monetary Fund (IMF) - 2013
This paper explores the extent to which macroprudential tools can be used to manage banking sector risks in Mongolia, a commodity producing country exposed to both procyclical and cross-sectional financial sector risks. Loose fiscal policy, rising credit activity, and heightened risk...
Persistent link: https://www.econbiz.de/10011123884
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Republic of Tajikistan; Financial System Stability Assessment, including Reports on Observance of Standards and Codes on the following topics, Banking Supervision, and Monetary and...
International Monetary Fund (IMF); International … - 2008
The Republic of Tajikistan’s Financial System Stability Assessment and reports on the Observance of Standards and Codes are examined. The Tajik financial system is small despite recent rapid growth. Overall, banks remain well capitalized and liquid, but the brisk expansion of their loan...
Persistent link: https://www.econbiz.de/10011242580