Monetary Velocity in a Systemic
... Swiss Franc or Lev, it is acually of the same construction. The Euro might be slightly different because it is supranational, but the differences are very small and moreover seem not to be in its favour as a stable and wealthpreserving instrument. So most of the time we talk about money, we think in ...
... Swiss Franc or Lev, it is acually of the same construction. The Euro might be slightly different because it is supranational, but the differences are very small and moreover seem not to be in its favour as a stable and wealthpreserving instrument. So most of the time we talk about money, we think in ...
Bank of England Quarterly Bulletin 2014 Q1
... by explaining the concept of money and what makes it special. It then sets out what counts as money in a modern economy such as the United Kingdom, where 97% of the money held by the public is in the form of deposits with banks, rather than currency.(1) It describes the different types of money, whe ...
... by explaining the concept of money and what makes it special. It then sets out what counts as money in a modern economy such as the United Kingdom, where 97% of the money held by the public is in the form of deposits with banks, rather than currency.(1) It describes the different types of money, whe ...
MAS Notice 1015 Minimum Liquid Assets and Liquidity Coverage
... is made, utilises or calls upon the commitment, such as any unutilised portion of a guarantee, any standby letter of credit, any warranty, any standby credit facility, any forward asset purchase, any underwriting arrangements, any credit protection sold by the merchant bank and any liquidity facilit ...
... is made, utilises or calls upon the commitment, such as any unutilised portion of a guarantee, any standby letter of credit, any warranty, any standby credit facility, any forward asset purchase, any underwriting arrangements, any credit protection sold by the merchant bank and any liquidity facilit ...
The Securitization of U.S. Bank Activities in the Eurodollar Market
... banks have had to rely increasingly on income from new types of activities. Rather than making loans and holding them to maturity, banks are now originating financial assets with borrowers to sell them to investors at a profit or for a fee. This practice has placed a premium on the transferability o ...
... banks have had to rely increasingly on income from new types of activities. Rather than making loans and holding them to maturity, banks are now originating financial assets with borrowers to sell them to investors at a profit or for a fee. This practice has placed a premium on the transferability o ...
Are Proposed African Monetary Unions Optimal Currency Areas
... financial intermediation converge to mirror the level of arbitrage activity. When they converge, it implies a common momentum such as arbitrage activity is bringing the markets together. This will reduce the potential for making above normal profits through international diversification(Von Fursten ...
... financial intermediation converge to mirror the level of arbitrage activity. When they converge, it implies a common momentum such as arbitrage activity is bringing the markets together. This will reduce the potential for making above normal profits through international diversification(Von Fursten ...
From Boom to Bust: The Iceland Story
... There is another way to look at the undisciplined stance of monetary and fiscal policy in Iceland over the years. Since 1939 when the two traded at par, the Icelandic króna has lost 95.95 per cent of its value vis-à-vis its mother currency, the Danish krone. The reason, of course, is Iceland’s infla ...
... There is another way to look at the undisciplined stance of monetary and fiscal policy in Iceland over the years. Since 1939 when the two traded at par, the Icelandic króna has lost 95.95 per cent of its value vis-à-vis its mother currency, the Danish krone. The reason, of course, is Iceland’s infla ...
Bank Stress Tests and Financial Stability
... 8. Alas, in a chapter on bank stress tests, it is necessary to have some discussion of different measures of bank capital—admittedly, an arcane topic. This chapter makes reference to two types of bank capital ratios: one based on risk-weighted assets (RWA) in the denominator, called risk-based meas ...
... 8. Alas, in a chapter on bank stress tests, it is necessary to have some discussion of different measures of bank capital—admittedly, an arcane topic. This chapter makes reference to two types of bank capital ratios: one based on risk-weighted assets (RWA) in the denominator, called risk-based meas ...
Agent Based-Stock Flow Consistent Macroeconomics: Towards a
... One of the strongest criticisms risen against this framework in the aftermath of the crisis was centered on its alleged inability to deal with non-linearities characterizing real world behaviors and economic dynamics. In particular, the common practice of using log-linearization around the steady st ...
... One of the strongest criticisms risen against this framework in the aftermath of the crisis was centered on its alleged inability to deal with non-linearities characterizing real world behaviors and economic dynamics. In particular, the common practice of using log-linearization around the steady st ...
Why are Banks Highly Interconnected?
... Any bank that does not pay its interbank commitments in full is taken to the bankruptcy court where bankruptcy costs are 100 percent. We first show that CDS contracts, even if renegotiated, cannot save banks 2 and 3. The ex-post CDS payments from bank 1 to each of these two banks 2 and 3 is 0.025, w ...
... Any bank that does not pay its interbank commitments in full is taken to the bankruptcy court where bankruptcy costs are 100 percent. We first show that CDS contracts, even if renegotiated, cannot save banks 2 and 3. The ex-post CDS payments from bank 1 to each of these two banks 2 and 3 is 0.025, w ...
Bank Capital: Lessons from the Financial Crisis
... where yijt is the change in the bank’s stock price between the end of quarter t-1 and the end of quarter t, the α’s, β’s, and γ’s are coefficients to be estimated, djt is a matrix of country/time dummy variables, kijt-1 is bank capital, the variables we are mostly interested in, Xijt-1 is a matrix o ...
... where yijt is the change in the bank’s stock price between the end of quarter t-1 and the end of quarter t, the α’s, β’s, and γ’s are coefficients to be estimated, djt is a matrix of country/time dummy variables, kijt-1 is bank capital, the variables we are mostly interested in, Xijt-1 is a matrix o ...
Deflation and Liberty - Satoshi Nakamoto Institute
... make more or less superfluous. It is also questionable whether our monetary authorities can legitimately use “their” gold reserves to salvage their paper money. In fact, they have come to control these reserves through a confiscatory coup, and it is therefore not at all clear how plans for monetary ...
... make more or less superfluous. It is also questionable whether our monetary authorities can legitimately use “their” gold reserves to salvage their paper money. In fact, they have come to control these reserves through a confiscatory coup, and it is therefore not at all clear how plans for monetary ...
Using the Bank Anti-Tying Provision to Curb Financial Risk
... London Interbank Offered Rate (LIBOR), highlights the act's limited ability to prevent future crises. 2 If anything, banks seem to have responded to greater regulation with greater risk-taking. 3 The act may therefore have the perverse effect of spurring another period of financial experimentation. ...
... London Interbank Offered Rate (LIBOR), highlights the act's limited ability to prevent future crises. 2 If anything, banks seem to have responded to greater regulation with greater risk-taking. 3 The act may therefore have the perverse effect of spurring another period of financial experimentation. ...
SP166: Broad Money vs. Narrow Money: A Discussion Following the Federal Reserve's Decision to Discontinue Publication of M3 Data
... recent years, but this is a somewhat different subject from the transmission mechanism from money to the economy. Indeed, several descriptions of the transmission mechanism of monetary policy have been given in which the quantity of money plays no role at all in the determination of national income. ...
... recent years, but this is a somewhat different subject from the transmission mechanism from money to the economy. Indeed, several descriptions of the transmission mechanism of monetary policy have been given in which the quantity of money plays no role at all in the determination of national income. ...
Volume 67 No. 3, September 2004 Contents
... in the past to avoiding unnecessary instability in economic ...
... in the past to avoiding unnecessary instability in economic ...
Lecture to the Sylvester Monye Foundation
... Lecture to the Sylvester Monye Foundation , Asaba, Delta State, July 9, 2010. ...
... Lecture to the Sylvester Monye Foundation , Asaba, Delta State, July 9, 2010. ...
The IS Schedule
... income and consumption, causing the IS curve to rotate to left. – As GDP falls, the transactions demand for money falls. If the supply of money does not change, the interest rate falls. – As the interest rate falls, some interest sensitive spending rises. – Equilibrium occurs at Y2 and r2. ...
... income and consumption, causing the IS curve to rotate to left. – As GDP falls, the transactions demand for money falls. If the supply of money does not change, the interest rate falls. – As the interest rate falls, some interest sensitive spending rises. – Equilibrium occurs at Y2 and r2. ...
Preview Sample File
... plus savings deposits, money market deposit accounts (MMDAs), and small-denomination time deposits (under $100,000) at depository institutions plus balance in retail money market mutual funds (MMMFs) where initial investments are less than $50,000. Money market mutual funds (MMMFs) issue “shares” to ...
... plus savings deposits, money market deposit accounts (MMDAs), and small-denomination time deposits (under $100,000) at depository institutions plus balance in retail money market mutual funds (MMMFs) where initial investments are less than $50,000. Money market mutual funds (MMMFs) issue “shares” to ...
The Role of Credit Market in Monetary Policy Transmission Mecha-
... interest. The change of the real rate is not the main cause, which leads to the change of the investment in the fixed assets and has little effect on the consumption. So it proves that there is “hard obstruction” in the interest transmission tunnel of the monetary policy. Dong and Hu (2008) performe ...
... interest. The change of the real rate is not the main cause, which leads to the change of the investment in the fixed assets and has little effect on the consumption. So it proves that there is “hard obstruction” in the interest transmission tunnel of the monetary policy. Dong and Hu (2008) performe ...
International Interbank Borrowing During the Global Crisis
... within the cluster. In the context of the global crisis, U.K. banks could pull back from other borrowers if there is a crisis in Ireland (Figure 1a). This paper argues that similar indirect effects could arise in lending clusters. It is not uncommon for large borrowers to depend on several major cre ...
... within the cluster. In the context of the global crisis, U.K. banks could pull back from other borrowers if there is a crisis in Ireland (Figure 1a). This paper argues that similar indirect effects could arise in lending clusters. It is not uncommon for large borrowers to depend on several major cre ...
