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Author : Courtney Blackman
Publisher : Unknown
Page : 28 pages
File Size : 46,7 Mb
Release : 1982
Category : Business & Economics
ISBN : UOM:35128000855195
Author : Scott Roger
Publisher : Unknown
Page : 116 pages
File Size : 41,7 Mb
Release : 1993
Category : Foreign exchange
ISBN : STANFORD:36105008927985
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 216 pages
File Size : 48,9 Mb
Release : 2005-04-15
Category : Business & Economics
ISBN : STANFORD:36105121583004
Of country practices -- Country case studies -- Appendixes.
Author : John Nugée
Publisher : Unknown
Page : 69 pages
File Size : 51,5 Mb
Release : 2000
Category : Foreign exchange administration
ISBN : 1857301560
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 34 pages
File Size : 51,5 Mb
Release : 2004-08-16
Category : Business & Economics
ISBN : 1589062604
These guidelines are intended to assist countries in strengthening their policy frameworks for reserve management so that they can become more resilient to shocks that may originate from global financial markets or within the domestic financial system. The guidelines have been developed as part of a broader IMF work program to help strengthen international financial architecture, to promote policies and practices that contribute to stability and transparency in the financial sector, and to reduce external vulnerabilities of member countries.
Author : MissYinqiu Lu,Yilin Wang
Publisher : International Monetary Fund
Page : 44 pages
File Size : 52,7 Mb
Release : 2019-03-08
Category : Business & Economics
ISBN : 9781498302562
The way central banks manage their foreign reserve assets has evolved over the past decades. One major trend is managing reserves in two or more tranches—liquidity tranche and investment tranche—especially for those with adequate reserves. Incorporating reserve tranching, we have developed in this paper a central bank’s reserve portfolio choice model to analyze the determinants of the currency composition of reserves. In particular, we adopt the classical mean-variance framework for the investment tranche and the asset-liability framework for the liquidity tranche. Building on these frameworks, the roles of currency compositions in imports invoicing and short-term external debt, and risk and returns of reserve currencies can be quantified by our structural model—a key contribution of our paper given the absence of structural models in the literature. Finally, we estimate the potential paths of the share of RMB in reserves under different scenarios to shed light on its status as an international currency.
Author : Age Bakker,Ingmar R. Y. van Herpt
Publisher : Edward Elgar Publishing
Page : 271 pages
File Size : 48,5 Mb
Release : 2007-01-01
Category : Business & Economics
ISBN : 9781782541677
This book addresses the welfare gains and costs of accumulating foreign exchange reserves and the implications for the functioning of the global financial system. The tremendous growth of central bank reserves has led to an increased focus on raising returns in addition to the traditional preference central banks have for maintaining liquid portfolios. Issues such as asset and currency diversification, the impact of new accounting rules and the profit distribution agreements with the government are analysed, adding new insights to the current debate on the optimal size of central bank reserves. This book brings together a wide range of experts from central banks, investment banks and the academic community.
Author : European Central Bank
Publisher : Unknown
Page : 376 pages
File Size : 51,6 Mb
Release : 2004
Category : Bank reserves
ISBN : MINN:31951D02479722U
Author : International Monetary Fund. Statistics Dept.
Publisher : International Monetary Fund
Page : 258 pages
File Size : 42,6 Mb
Release : 2015-01-07
Category : Business & Economics
ISBN : 9781484350164
This update of the guidelines published in 2001 sets forth the underlying framework for the Reserves Data Template and provides operational advice for its use. The updated version also includes three new appendices aimed at assisting member countries in reporting the required data.
Author : Mr. Marco Airaudo
Publisher : International Monetary Fund
Page : 65 pages
File Size : 43,8 Mb
Release : 2016-03-08
Category : Business & Economics
ISBN : 9781475523164
We analyze coordination of monetary and exchange rate policy in a two-sector model of a small open economy featuring imperfect substitution between domestic and foreign financial assets. Our central finding is that management of the exchange rate greatly enhances the efficacy of inflation targeting. In a flexible exchange rate system, inflation targeting incurs a high risk of indeterminacy where macroeconomic fluctuations can be driven by self-fulfilling expectations. Moreover, small inflation shocks may escalate into much larger increases in inflation ex post. Both problems disappear when the central bank leans heavily against the wind in a managed float.
Author : Anne Y. Kester
Publisher : International Monetary Fund
Page : 86 pages
File Size : 50,5 Mb
Release : 2001-10-23
Category : Business & Economics
ISBN : UCSD:31822031385131
International financial crises in the late 1990s revealed that deficiencies in countrieѕђة́ international reserves and related information made it difficult to anticipate and respond to crises by obscuring financial weaknesses and imbalances. This volume sets forth an innovative framework to assess countrieѕђة́ international reserves and foreign currency liquidity. The framework takes account of official balance sheet and off-balance-sheet financial activities, future and potential demand for foreign exchange to meet official obligations, the availability of official foreign currency assets to meet such demand, and official risk exposure to exchange rate fluctuations. This work clarifies what international reserves are, and how international reserves and related information should be strengthened to promote informed decision making in the public and private sectors, thereby helping improve the functioning of global financial markets.
Author : Masahiro Kawai,Peter J. Morgan,Shinji Takagi
Publisher : Edward Elgar Publishing
Page : 321 pages
File Size : 40,8 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780857933355
Asian economies strengthened their monetary and currency management after the Asian financial crisis of 19971998, and came through the global financial crisis of 20072009 relatively well. Nevertheless, the recent global crisis has presented new challenges. This book develops recommendations for monetary and currency policy in Asian economies aimed at promoting macroeconomic and financial stability in an environment of global economic shocks and volatile capital flows. Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy. This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policymakers in the region as well as academics and researchers of financial and Asian economics as well as economic development.
Author : Mr.Simon Gray
Publisher : International Monetary Fund
Page : 57 pages
File Size : 45,9 Mb
Release : 2011-02-01
Category : Business & Economics
ISBN : 9781455217908
Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.
Author : Masahiro Kawai,Mario B. Lamberte
Publisher : Edward Elgar Publishing
Page : 465 pages
File Size : 46,5 Mb
Release : 2010-01-01
Category : Business & Economics
ISBN : 9781849806879
Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.
Author : Mr.Tomás J. T. Baliño,Lorena M. Zamalloa
Publisher : International Monetary Fund
Page : 316 pages
File Size : 48,7 Mb
Release : 1997-09-07
Category : Business & Economics
ISBN : 1557755981
Many countries have reformed their monetary instruments over the last few years. Edited by Tomas J.T. Balino and Lorena M. Zamalloa, this volume deals with the design, implementation, and coordination of major monetary policy instruments, highlighting relevant country experiences. In particular, it discusses how to adapt those instruments to the financial environment as well as how to help this environment to develop.
