The Payment System And Monetary Policy

Author : Mr.Omotunde E. G. Johnson
Publisher : International Monetary Fund
Page : 30 pages
File Size : 48,6 Mb
Release : 1998-05-01
Category : Business & Economics
ISBN : 9781451973389

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The Payment System and Monetary Policy by Mr.Omotunde E. G. Johnson Pdf

Achieving the primary objective of price stability without unduly compromising the operational efficiency of the payment system constitutes a major problem for central banks. Routine monetary policy presumes a given institutional and technological framework, including aspects of the payment system. Such a monetary policy concerns itself with intraday and interday credit for payments settlements and with float. Liquidity shocks and panics sometimes pose an additional challenge. In recent years, major and rapid institutional and technological changes in the payment system (mainly to lower risks and augment operational efficiency) have affected the monetary policy decision-making process, particularly in the short run.

Author : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 49,7 Mb
Release : 2002
Category : Banks and Banking
ISBN : 0894991965

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The Federal Reserve System Purposes and Functions by Board of Governors of the Federal Reserve System Pdf

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Author : Mr.Richard K. Abrams,Mr.Omotunde E. G. Johnson,Mr.Tonny Lybek,Mr.Mark Swinburne,Mr.Jean-Marc Destresse,Mr.Nicholas Roberts
Publisher : International Monetary Fund
Page : 276 pages
File Size : 42,6 Mb
Release : 1998-03-18
Category : Business & Economics
ISBN : 1557756260

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Payment Systems, Monetary Policy and the Role of the Central Bank by Mr.Richard K. Abrams,Mr.Omotunde E. G. Johnson,Mr.Tonny Lybek,Mr.Mark Swinburne,Mr.Jean-Marc Destresse,Mr.Nicholas Roberts Pdf

A payment system encompasses a set of instruments and means generally acceptable in making payments; the institutional and organizational framework governing such payments, including prudential regulation; and the operating procedures and communications network used to initiate and transmit payment information from payer to payee and to settle payments. This book, by Omotunde E.G. Johnson, with Richard K. Abrams, Jean-Marc Destresse, Tony Lybek, Nicholas Roberts, and Mark Swinburne, identifies main policy and strategic issues in payment system reform, describes the structure of payment systems in selected countries, highlights areas of consensus, and suggests the direction for future policy analysis.

Author : Mr.Bruce J. Summers
Publisher : International Monetary Fund
Page : 232 pages
File Size : 54,7 Mb
Release : 1994-12-15
Category : Business & Economics
ISBN : 1557753865

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The Payment System by Mr.Bruce J. Summers Pdf

This book makes a practical contribution to increased understanding of payment system design and management and of the relationship between the payment system and monetary policy. The authors of the twelve papers included in the book are central banking experts from around the world who draw on their experiences in providing technical assistance to the central banks of the countries of the former U.S.S.R.

Author : Stefan W. Schmitz,Geoffrey Wood
Publisher : Routledge
Page : 190 pages
File Size : 52,5 Mb
Release : 2007-01-24
Category : Business & Economics
ISBN : 9781134175116

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Institutional Change in the Payments System and Monetary Policy by Stefan W. Schmitz,Geoffrey Wood Pdf

"Central bankers worldwide welcome the recent increase of research on payment systems. This volume, providing an expert overview on this timely subject, should be required reading for us all". - Erkki Liikanen, Governor of the Bank of Finland Monetary policy has been at the centre of economic research from the early stages of economic thought, but payment system research has attracted increased academic attention only in the past decade. This book’s succeeds in merging these two so far largely separated fields. Innovative and groundbreaking, Schmitz and Woods initiate research on the interdependence of institutional change in the payments system and monetary policy, examining the different channels via which payment systems affect monetary policy. It explores important themes such as: conceptualization and methods of analysis of institutional change in the payments system determinants of institutional change in the payments system – political-economy versus technology empirics of institutional change in the retail and in the wholesale payments systems – policy initiatives and new technologies in the payments system implications of institutional change in the payments system for monetary policy and the instruments available to central banks to cope with it. The result is an accessible overview of conceptual and methodological approaches to institutional change in payment systems, and a comprehensive and yet thorough assessment of its implications for monetary policy. The insights this timely book provides will be invaluable for researchers and practitioners in the field of monetary economics.

Author : Stephen Millard,Andrew Haldane,Victoria Saporta
Publisher : Routledge
Page : 347 pages
File Size : 46,7 Mb
Release : 2007-09-17
Category : Business & Economics
ISBN : 9781134071296

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The Future of Payment Systems by Stephen Millard,Andrew Haldane,Victoria Saporta Pdf

Drawing on wide-ranging contributions from prominent international experts and discussing some of the most pressing issues facing policy makers and practitioners in the field of payment systems today, this volume provides cutting-edge perspectives on the current issues surrounding payment systems and their future.It covers a range of continually im

Author : David B. Humphrey
Publisher : Springer Science & Business Media
Page : 301 pages
File Size : 51,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400925106

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The U.S. Payment System: Efficiency, Risk and the Role of the Federal Reserve by David B. Humphrey Pdf

The U.S. payment system is in the midst of a significant transition. Some of the changes to our payment system, involving its efficiency, the risks inherent in the payment process, and the role of the private and public sectors in the payment mechanism, are the subject of considerable debate and controversy. In recent years, the Federal Reserve Bank of Richmond has played an active part in the development and implementation of policies to improve the payment process. The Bank's operations staff has represented the Federal Reserve System in work with the banking industry to help shape and implement programs to increase efficiency and reduce payment risk. Further, our Research Department has made payment system research an important part of its agenda. The mix of practical experience and research has resulted in a unique perspective on payment system issues that led us to organize a symposium on the U.S. payment system, held on May 25-26, 1988, in Williamsburg, Virginia. Reflecting our belief in the importance of combining both practical experience and theory in addressing payment issues, we invited practi tioners, scholars, and policymakers to share their ideas. The symposium provided an opportunity for those researchers who are studying p- xi PREFACE xii ment issues to present their ideas and to have these ideas evaluated by experienced practitioners.

Author : Marco Rossi
Publisher : Springer
Page : 163 pages
File Size : 42,6 Mb
Release : 1998-06-12
Category : Business & Economics
ISBN : 9781349263745

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Payment Systems in the Financial Markets by Marco Rossi Pdf

The payment system is one of the mechanisms essential to the working of an exchange economy. Over the last decade, central banks have been determined to improve their payment systems to harmonise and reduce risk, and in Europe to anticipate their future interconnection in the TARGET system. This book provides the analytic framework for an informed policy debate on the implications for monetary policy.

Author : Maxwell J. Fry
Publisher : Routledge
Page : 192 pages
File Size : 48,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781134621569

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Payment Systems in Global Perspective by Maxwell J. Fry Pdf

This book provides an authoritative overview of the complex practical and policy implications of international payments systems by central bankers from both developed and developing countries, Payments Systems in Global Perspective presents the results of a survey of international central bank practice conducted by the Bank of England.

Author : Sergio Rossi
Publisher : Routledge
Page : 166 pages
File Size : 40,8 Mb
Release : 2007-03
Category : Business & Economics
ISBN : 9781134190799

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Money and Payments in Theory and Practice by Sergio Rossi Pdf

International in scope and written by a leading young Post-Keynesian economist, this book focuses on the working of money and payments in a multi-bank settlement system within which banks and non-bank financial institutions have been expanding their operations outside their countries of incorporation. Departing from conventionally held beliefs, Sergio Rossi sets off from a positive analysis of the logical origin of money, which is the essential principle of double-entry book-keeping through which banks record all debts and credits for further reference and settlement and provides theoretical and empirical advances in explaining money endogeneity for the investigation of contemporary domestic and international monetary issues. Showing that both money and banking have profound implications for real economic activities, this innovative work is essential reading, not only for scholars in monetary economics, but also for professionals concerned with monetary policy and payments system issues.

Author : Charles Albert Eric Goodhart
Publisher : MIT Press
Page : 560 pages
File Size : 41,5 Mb
Release : 1995
Category : Business & Economics
ISBN : 0262071673

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The Central Bank and the Financial System by Charles Albert Eric Goodhart Pdf

As economic advisor to the Bank of England for many years, C. A. E. Goodhart is uniquely positioned to assess the role of the central bank in the modern financial system. This book brings together twenty-one of his previously published articles dealing with the changing functions of central banks over time, recent efforts to maintain price stability, and debates over specific financial regulation proposals in the UK. Although the current day-to-day operations of central banks are subject to continuous comment and frequent criticism, their structural role within the economic system as a whole has generally been accepted without much question, despite several attempts by economists in recent decades to challenge the value of the institution. C. A. E. Goodhart brings his knowledge of both the theoretical arguments and the actual working of central banks to bear in these essays. Part I looks at the general purposes and functions of central banks within the financial system and their evolution over time. Part II concentrates on the current objectives and operations of central banks, and the maintenance of price stability in particular. Part III analyzes the broader issues of financial regulation.

Author : David B. Humphrey
Publisher : Springer
Page : 301 pages
File Size : 50,9 Mb
Release : 2011-10-17
Category : Business & Economics
ISBN : 9400925115

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The U.S. Payment System: Efficiency, Risk and the Role of the Federal Reserve by David B. Humphrey Pdf

The U.S. payment system is in the midst of a significant transition. Some of the changes to our payment system, involving its efficiency, the risks inherent in the payment process, and the role of the private and public sectors in the payment mechanism, are the subject of considerable debate and controversy. In recent years, the Federal Reserve Bank of Richmond has played an active part in the development and implementation of policies to improve the payment process. The Bank's operations staff has represented the Federal Reserve System in work with the banking industry to help shape and implement programs to increase efficiency and reduce payment risk. Further, our Research Department has made payment system research an important part of its agenda. The mix of practical experience and research has resulted in a unique perspective on payment system issues that led us to organize a symposium on the U.S. payment system, held on May 25-26, 1988, in Williamsburg, Virginia. Reflecting our belief in the importance of combining both practical experience and theory in addressing payment issues, we invited practi tioners, scholars, and policymakers to share their ideas. The symposium provided an opportunity for those researchers who are studying p- xi PREFACE xii ment issues to present their ideas and to have these ideas evaluated by experienced practitioners.

Author : Tom Kokkola
Publisher : Unknown
Page : 369 pages
File Size : 53,8 Mb
Release : 2010
Category : Banks and banking, Central
ISBN : 9289906332

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The Payment System by Tom Kokkola Pdf

"This book is designed to provide the reader with an insight into the main concepts involved in the handling of payments, securities and derivatives and the organisation and functioning of the market infrastructure concerned. Emphasis is placed on the general principles governing the functioning of the relevant systems and processes and the presentation of the underlying economic, business, legal, institutional, organisational and policy issues. The book is aimed at decision-makers, practitioners, lawyers and academics wishing to acquire a deeper understanding of market infrastructure issues. It should also prove useful for students with an interest in monetary and financial issues."--Introduction (Pg. 20, para 8).

Author : Anonim
Publisher : Unknown
Page : 540 pages
File Size : 40,5 Mb
Release : 2003
Category : Banks and banking
ISBN : IND:30000100488414

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Payment and Settlement Systems in Selected Countries by Anonim Pdf

Author : Ronald Heijmans,Ms.Froukelien Wendt
Publisher : International Monetary Fund
Page : 29 pages
File Size : 49,6 Mb
Release : 2020-06-05
Category : Business & Economics
ISBN : 9781513545080

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Measuring the Impact of a Failing Participant in Payment Systems by Ronald Heijmans,Ms.Froukelien Wendt Pdf

Banks and financial market infrastructures (FMIs) that are not able to fulfill their payment obligations can be a source of financial instability. This paper develops a composite risk indicator to evaluate the criticality of participants in a large value payment system network, combining liquidity risk and interconnections in one approach, and applying this to the TARGET2 payment system. Findings suggest that the most critical participants in TARGET2 are other payment systems, because of the size of underlying payment flows. Some banks may be critical, but this is mainly due to their interconnectedness with other TARGET2 participants. Central counterparties and central securities depositories are less critical. These findings can be used in financial stability analysis, and feed into central bank policies on payment system access, oversight, and crisis management.