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Financial Plumbing and Monetary Policy

2014-06-20 Business & Economics
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Release : 2014-06-20
Genre : Business & Economics
Kind : eBook
Book Rating : 135/5 ( reviews)

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Book Synopsis Financial Plumbing and Monetary Policy by : Mr.Manmohan Singh

Download or read book Financial Plumbing and Monetary Policy written by Mr.Manmohan Singh. This book was released on 2014-06-20. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on how changes in financial plumbing of the markets may impact the monetary policy options as central banks contemplate lift off from zero lower bound (ZLB). Under the proposed regulations, banks will face leverage ratio constraints. As a result of quantitative easing (QE), banks want balance sheet “space” for financial intermediation/ non-depository activities. At the same time, regulatory changes are boosting demand for high quality liquid assets. The paper also discusses the role of repo markets and the importance of collateral velocity and the need to avoid wedges between repo and monetary policy rates when leaving ZLB.

Collateral and Financial Plumbing

2016 Credit
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Release : 2016
Genre : Credit
Kind : eBook
Book Rating : 172/5 ( reviews)

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Book Synopsis Collateral and Financial Plumbing by : Manmohan Singh

Download or read book Collateral and Financial Plumbing written by Manmohan Singh. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt: Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes--including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement--the role of effective collateral management in monetizing assets has never been more important. Until now, policymakers have tended to ignore the complex collateral plumbing that is fundamental to lending and enabling growth in the economy. Attention is now focused on this important issue. Manmohan Singh leads you through this complex subject highlighting the importance of financial plumbing and provides a practical understanding of how financial collateral moves across jurisdictions. Also, the discussion on restricting collateral velocity and how it links to monetary policy rate cycle is original. Now with two additional chapters covering the breakdown of financial plumbing and monetary policy transmission, this updated edition provides the insight and wisdom delivered in the first edition of this book, along with the latest techniques and know-how needed when monetizing assets. This is an essential guide to navigating the future as rules and regulations for the global financial markets are redrawn. Through a thorough examination of the role collateral plays in the market the reader will gain a deeper understanding of complex and important themes that are likely to remain topical in the near future.

The Great Financial Plumbing

2015-09-30 Business & Economics
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Release : 2015-09-30
Genre : Business & Economics
Kind : eBook
Book Rating : 292/5 ( reviews)

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Book Synopsis The Great Financial Plumbing by : Karel Lannoo

Download or read book The Great Financial Plumbing written by Karel Lannoo. This book was released on 2015-09-30. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has led to a far-reaching redesign of the European regulatory and supervisory framework. Following the commitments made in the context of the G-20, but also reacting to internal shortcomings, the EU engaged in a massive program to re-regulate financial markets. The EU furthermore redesigned the structure for supervisory cooperation, initially through the European Supervisory Authorities, and later in its ambition to form the Banking Union. In The Great Financial Plumbing, Karel Lannoo systematically assesses the new regulatory and supervisory framework. The book’s structure follows the big questions on the agenda: 1) What is Banking Union? 2) How have the concerns of the G-20 been addressed by the EU (oversight of credit-rating agencies, better capital for banks, the re-regulation of securities and derivatives markets, asset management, depositor protection and bank resolution)? 3) How were uniquely EU rules on state aid applied to the banking sector? This book is designed to give professionals, policy-makers and students a better understanding of the new regulatory framework and insights into the policy context that has led to the new rules governing financial markets in Europe.

Managing the Fed’s Liftoff and Transmission of Monetary Policy

2015-09-23 Business & Economics
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Release : 2015-09-23
Genre : Business & Economics
Kind : eBook
Book Rating : 256/5 ( reviews)

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Book Synopsis Managing the Fed’s Liftoff and Transmission of Monetary Policy by : Mr.Manmohan Singh

Download or read book Managing the Fed’s Liftoff and Transmission of Monetary Policy written by Mr.Manmohan Singh. This book was released on 2015-09-23. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, many money and repo rates in the United States have been between zero and 25 basis points. As Fed’s liftoff approaches, the question of the level of these rates (and the markets that determine them) becomes increasingly important. The paper discusses (i) whether the Fed can control short–term rates as it starts to tighten; and (ii) what are the advantages and disadvantages of using asset sales versus a large reverse repo program (RRP). A large RRP by the Fed will deprive the financial system of the money pool (i.e., GSEs and money market funds) as the Fed will directly absorb the money on to its balance sheet. This will rust the financial plumbing that connects the money pool to collateral suppliers. Some asset sales may be preferred to a large RRP as this will result in a market-determined repo rate and will allow the Fed to reach its monetary policy liftoff objectives with minimal footprint on market plumbing. We also discuss cost of issuing short tenor T-bills relative to a large RRP in a rising rate environment.

Collateral and Financial Plumbing

2016 Credit
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Author :
Release : 2016
Genre : Credit
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Collateral and Financial Plumbing by : Manmohan Singh

Download or read book Collateral and Financial Plumbing written by Manmohan Singh. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt: Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes--including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement--the role of effective collateral management in monetizing assets has never been more important.

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