Canada - Financial Stability Board
... The Bank of Canada (the Bank) is Canada’s central bank and is responsible for the regulatory oversight of financial market infrastructures (FMIs) with a focus on controlling systemic risk. Specifically, the Bank oversees payment systems, central counterparties and securities settlement systems that ...
... The Bank of Canada (the Bank) is Canada’s central bank and is responsible for the regulatory oversight of financial market infrastructures (FMIs) with a focus on controlling systemic risk. Specifically, the Bank oversees payment systems, central counterparties and securities settlement systems that ...
the impact of the national bank of romania monetary policy on the
... successfully to long-term and mid-term convertibility, it is essential to achieve and maintain a certain structural balance between the current transactions and the capital and financial ones. At the same time, on the international financial-currency market, the quality of the balance of payments of ...
... successfully to long-term and mid-term convertibility, it is essential to achieve and maintain a certain structural balance between the current transactions and the capital and financial ones. At the same time, on the international financial-currency market, the quality of the balance of payments of ...
The normalization of US monetary policy: risks and challenges
... market turmoil in recent weeks, the weakness of certain economic indicators in the US, in particular as far as the manufacturing sector is concerned, the stress in several developing economies, the weakness of commodity prices, the strengthening of the effective exchange rate of the dollar, the wide ...
... market turmoil in recent weeks, the weakness of certain economic indicators in the US, in particular as far as the manufacturing sector is concerned, the stress in several developing economies, the weakness of commodity prices, the strengthening of the effective exchange rate of the dollar, the wide ...
ECCB Staff Research Paper Identification of Loan Supply Function
... framework, as it allows for testing the restriction of perfect substitutability between loans and bonds in banks portfolios and specifically facilitates empirically identifying the loan supply function. This is a critical condition in the model for determining whether the bank lending channel is a c ...
... framework, as it allows for testing the restriction of perfect substitutability between loans and bonds in banks portfolios and specifically facilitates empirically identifying the loan supply function. This is a critical condition in the model for determining whether the bank lending channel is a c ...
Ceci est la version HTML du fichier http://www
... rate arrangement in the pre-crisis period. This policy would have implied lower credit growth and higher interest rates when capital inflows began to taper off. Restrictive monetary policy in the period immediately preceding the crisis, especially if coupled with a neutral or even contractionary fis ...
... rate arrangement in the pre-crisis period. This policy would have implied lower credit growth and higher interest rates when capital inflows began to taper off. Restrictive monetary policy in the period immediately preceding the crisis, especially if coupled with a neutral or even contractionary fis ...
Shadow Banking: Policy Challenges for Central Banks
... The depth and length of the current financial crisis have been exceptional. The global financial system was close to a meltdown after Lehman Brothers filed for bankruptcy in September 2008. Central banks responded with unprecedented force and were able to restore stability to financial markets. As t ...
... The depth and length of the current financial crisis have been exceptional. The global financial system was close to a meltdown after Lehman Brothers filed for bankruptcy in September 2008. Central banks responded with unprecedented force and were able to restore stability to financial markets. As t ...
Policy, Exchange Rates, and the International System W. Max Corden
... affirming others, The result is a collection of stimulating and important conclusions regarding how nations can and do adjust to both internal and external economic disturbances so as to achieve specific policy goals in both their macroeconomies and the greater international economy. The book’s titl ...
... affirming others, The result is a collection of stimulating and important conclusions regarding how nations can and do adjust to both internal and external economic disturbances so as to achieve specific policy goals in both their macroeconomies and the greater international economy. The book’s titl ...
The Global Politics of Central Banking: A View
... politics of central banking in the context of financial crisis, focusing less on the question of independence and more on changing international monetary norms and governing ideas. While still in its early stages, this literature builds on critiques of rationalist theories of central banking by disp ...
... politics of central banking in the context of financial crisis, focusing less on the question of independence and more on changing international monetary norms and governing ideas. While still in its early stages, this literature builds on critiques of rationalist theories of central banking by disp ...
Low Interest Rate Policy and the Use of Reserve Requirements in
... face of financial inflows they may be used to absorb abundant liquidity from the banking system. If financial flows reverse, reserve requirements can be lowered to free up liquidity again to stabilize financial markets. (ii) If reserve requirements are remunerated below market rates, they serve as a ...
... face of financial inflows they may be used to absorb abundant liquidity from the banking system. If financial flows reverse, reserve requirements can be lowered to free up liquidity again to stabilize financial markets. (ii) If reserve requirements are remunerated below market rates, they serve as a ...
figure 1 - Hoover Institution
... intervene for its own account or severely limit its participation with the Treasury in foreign exchange intervention—an Accord II. ● In 1990, the Treasury’s views about the effectiveness of intervention began to inexplicably change. U.S. intervention started to become much less frequent, but it stil ...
... intervene for its own account or severely limit its participation with the Treasury in foreign exchange intervention—an Accord II. ● In 1990, the Treasury’s views about the effectiveness of intervention began to inexplicably change. U.S. intervention started to become much less frequent, but it stil ...
NBER WORKING PAPER SERIES HISTORICAL PERSPECTIVE ON GLOBAL IMBALANCES Michael D. Bordo
... imbalances. Bordo, Eichengreen and Kim (1998), using the coefficients of an AR(1) regression as well as augmented Dickey Fuller (ADF) test find evidence of significantly greater persistence in both the deficits of the principal capital recipients and the capital exporters compared to the recent expe ...
... imbalances. Bordo, Eichengreen and Kim (1998), using the coefficients of an AR(1) regression as well as augmented Dickey Fuller (ADF) test find evidence of significantly greater persistence in both the deficits of the principal capital recipients and the capital exporters compared to the recent expe ...
Monetary Policy Cooperation between China and the
... primary instruments include open market operations, changes in the discount rate, reserve requirements and so-called window guidance to banks (Xie, 2004). Yi (2001) reports that reserve requirements, the rediscount rate, instructive credit plans and policy as complementary instruments. Recently Peop ...
... primary instruments include open market operations, changes in the discount rate, reserve requirements and so-called window guidance to banks (Xie, 2004). Yi (2001) reports that reserve requirements, the rediscount rate, instructive credit plans and policy as complementary instruments. Recently Peop ...
Currency Crises from Andrew Jackson to Angela Merkel
... in a vertical rise. When the Bank of England decided that American securities were no longer good investments, they forced the United States to adjust. The United States did so by having a banking panic that lowered prices and reduced spending, moving the economy to the left and inducing deflation ...
... in a vertical rise. When the Bank of England decided that American securities were no longer good investments, they forced the United States to adjust. The United States did so by having a banking panic that lowered prices and reduced spending, moving the economy to the left and inducing deflation ...
Rapid growth of bank credit in central and eastern Europe
... evidence on some macroeconomic effects of foreign banks’ activities. Section 5 concludes with an overview of the monetary policy actions taken to address these effects and a discussion of some supervisory issues arising from the prominent role of foreign-owned banks in central and eastern Europe. ...
... evidence on some macroeconomic effects of foreign banks’ activities. Section 5 concludes with an overview of the monetary policy actions taken to address these effects and a discussion of some supervisory issues arising from the prominent role of foreign-owned banks in central and eastern Europe. ...
Cross-Border Banking and Global Liquidity
... the BIS locational banking statistics which are organised according to the residence principle. The US dollar series in Figure 4 shows the US dollar-denominated assets and liabilities of banks outside the United States. The euro series shows the corresponding euro-denominated assets and liabilities ...
... the BIS locational banking statistics which are organised according to the residence principle. The US dollar series in Figure 4 shows the US dollar-denominated assets and liabilities of banks outside the United States. The euro series shows the corresponding euro-denominated assets and liabilities ...
Replacing Potemkin Capitalism Russia’s Need for a Free-Market Financial System Executive Summary
... connected to that industry; in fact, those banks are often owned by firms in the industry. A recent study has appropriately termed Russia’s banks “ersatz.”5 Foreign banks, which in countries as diverse as Argentina and Zimbabwe have provided stability in the domestic banking system, face a variety o ...
... connected to that industry; in fact, those banks are often owned by firms in the industry. A recent study has appropriately termed Russia’s banks “ersatz.”5 Foreign banks, which in countries as diverse as Argentina and Zimbabwe have provided stability in the domestic banking system, face a variety o ...
Bretton Woods System
... burst of activity during its first two years, IMF lending shrank to an extremely small scale for over a decade. Instead, the burden was shifted to the one actor at the time with the financial and economic resources needed to shoulder responsibility for global monetary stabilization namely, the Unite ...
... burst of activity during its first two years, IMF lending shrank to an extremely small scale for over a decade. Instead, the burden was shifted to the one actor at the time with the financial and economic resources needed to shoulder responsibility for global monetary stabilization namely, the Unite ...
Integration versus Interdependence and Complexity in Global Trade
... influence. The question of what to do with Germany was discussed at Tehran and in subsequent diplomatic jockeying. The main questions were whether to leave Germany unified; break it up; allow it to re-industrialise; or de-industrialise it. In the end, Germany was broken up and Stalin integrated East ...
... influence. The question of what to do with Germany was discussed at Tehran and in subsequent diplomatic jockeying. The main questions were whether to leave Germany unified; break it up; allow it to re-industrialise; or de-industrialise it. In the end, Germany was broken up and Stalin integrated East ...
The evolving international monetary system
... process that determined international financial and monetary architecture in the past but slipped into non-priority status as a focus for reform after the collapse of the Bretton Woods regime in the early 1970s. President Richard Nixon’s decision to end the dollar’s convertibility into gold ushered ...
... process that determined international financial and monetary architecture in the past but slipped into non-priority status as a focus for reform after the collapse of the Bretton Woods regime in the early 1970s. President Richard Nixon’s decision to end the dollar’s convertibility into gold ushered ...
routes to financial instability is iceland going down this route?
... TURKEY IN 2000- HAS IN SOME WAY INVOLVED A FIXED OR PEGGED EXCHANGE RATE REGIME. AT THE SAME TIME, COUNTRIES THAT DID NOT HAVE PEGGED RATES - AMONG THEM SOUTH AFRICA, ISRAEL IN 1998, MEXICO IN 1998 - AVOIDED CRISES OF THE TYPE THAT AFFLICTED EMERGING MARKET COUNTRIES WITH ...
... TURKEY IN 2000- HAS IN SOME WAY INVOLVED A FIXED OR PEGGED EXCHANGE RATE REGIME. AT THE SAME TIME, COUNTRIES THAT DID NOT HAVE PEGGED RATES - AMONG THEM SOUTH AFRICA, ISRAEL IN 1998, MEXICO IN 1998 - AVOIDED CRISES OF THE TYPE THAT AFFLICTED EMERGING MARKET COUNTRIES WITH ...
A Global Legal Entity Identifier for Financial Markets: FSB Report to
... is proposed to be created as a legal entity in the form of a not for profit foundation 2 that would rely on broad industry participation, expertise and knowledge to identify and develop the most technologically, financially and legally sound methods to implement the global LEI system in line with th ...
... is proposed to be created as a legal entity in the form of a not for profit foundation 2 that would rely on broad industry participation, expertise and knowledge to identify and develop the most technologically, financially and legally sound methods to implement the global LEI system in line with th ...
Monetary Policy Strategies in the Asia and Pacific Region: What
... The financial crisis that started in the United States (US) in the summer of 2007 has shaken the financial systems in the US and Europe and has brought about a worldwide economic recession. What have we learned about monetary policymaking and more importantly what might be the way forward? While the ...
... The financial crisis that started in the United States (US) in the summer of 2007 has shaken the financial systems in the US and Europe and has brought about a worldwide economic recession. What have we learned about monetary policymaking and more importantly what might be the way forward? While the ...
Introducing the Monetary Time Series of Southeastern Europe
... after the immense gold findings in California (1848) and Australia (1851): “cheap” gold came to drive “expensive” silver out of circulation. The only solution left to France – as well as to Italy, Belgium, and Switzerland which all had a very similar system – was to reduce the silver content of the ...
... after the immense gold findings in California (1848) and Australia (1851): “cheap” gold came to drive “expensive” silver out of circulation. The only solution left to France – as well as to Italy, Belgium, and Switzerland which all had a very similar system – was to reduce the silver content of the ...
Central Bank Policy
... their expectations about the Fed’s policy stance – Expected inflation rises, which causes wages and prices to rise in the ...
... their expectations about the Fed’s policy stance – Expected inflation rises, which causes wages and prices to rise in the ...
Bank for International Settlements
The Bank for International Settlements (BIS; French: Banque des règlements internationaux, BRI) is an international company limited by shares owned by central banks which ""fosters international monetary and financial cooperation and serves as a bank for central banks"".The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.