Wholesale Payments Systems And Financial Discipline Efficiency And Liquidity

Author : Mr.D. F. I. Folkerts-Landau
Publisher : International Monetary Fund
Page : 28 pages
File Size : 54,5 Mb
Release : 1997-11-01
Category : Business & Economics
ISBN : 9781451857191

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Wholesale Payments and Financial Discipline, Efficiency, and Liquidity by Mr.D. F. I. Folkerts-Landau Pdf

Properly designed wholesale payments system can make a significant contribution to enhancing market discipline in the financial sector, reducing the risk of systemic disturbance and permitting a less extensive safety net for financial institutions. The objective of these reforms has been to achieve a reduction of the credit risk associated with the growth in intraday credit exposures that arises in net settlement systems and in real-time gross systems when the central bank provides daylight overdrafts. Intraday payments-related credit in net settlement systems has been reduced by restructuring payment systems into real-time gross settlement systems with collateralized overdrafts, while in the existing real-time gross settlement systems, the risk-abatement program currently in effect has taken the form of caps and charges on uncollateralized daylight credit.

Author : David Fokke Ihno Folkerts-Landau
Publisher : Unknown
Page : 32 pages
File Size : 42,7 Mb
Release : 1998
Category : Banks and banking
ISBN : UCSD:31822028585420

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Wholesale Payments Systems and Financial Discipline, Efficiency, and Liquidity by David Fokke Ihno Folkerts-Landau Pdf

Author : David Folkerts-Landau
Publisher : Unknown
Page : 27 pages
File Size : 41,9 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291214504

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Wholesale Payments and Financial Discipline, Efficiency, and Liquidity by David Folkerts-Landau Pdf

Properly designed wholesale payments system can make a significant contribution to enhancing market discipline in the financial sector, reducing the risk of systemic disturbance and permitting a less extensive safety net for financial institutions. The objective of these reforms has been to achieve a reduction of the credit risk associated with the growth in intraday credit exposures that arises in net settlement systems and in real-time gross systems when the central bank provides daylight overdrafts. Intraday payments-related credit in net settlement systems has been reduced by restructuring payment systems into real-time gross settlement systems with collateralized overdrafts, while in the existing real-time gross settlement systems, the risk-abatement program currently in effect has taken the form of caps and charges on uncollateralized daylight credit.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 46 pages
File Size : 41,6 Mb
Release : 1990-07-01
Category : Business & Economics
ISBN : 9781451962437

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Systemic Financial Risk in Payment Systems by International Monetary Fund Pdf

Efficient and stable payments systems are of fundamental importance in maintaining an orderly international monetary system. Major disruptions of national and international payments systems would have highly adverse effects on international trade, capital flows, and real activity. A key issue--now being addressed by authorities in a number of major countries--is whether existing institutional arrangements need to be modified in order to reduce the liquidity and credit risks that have arisen as a result of the expansion of international capital flows and the growing integration of major financial markets. This paper examines the nature of these risks and the policies that are being implemented to manage or curb them.

Author : David Fokke Ihno Folkerts-Landau,Peter M. Garber,Dirk Schoenmaker
Publisher : Unknown
Page : 70 pages
File Size : 42,5 Mb
Release : 1996
Category : Business & Economics
ISBN : UCSD:31822023704646

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The Reform of Wholesale Payment Systems and Its Impact on Financial Markets by David Fokke Ihno Folkerts-Landau,Peter M. Garber,Dirk Schoenmaker Pdf

The explosive growth in the volume of transactions in highly liquid national and international money, derivative, and capital markets during the last ten years -- the so-called commoditization of finance -- has produced a corresponding increase in flows of gross domestic and international payments. These flows are facilitated by an interlocking network of national and international wholesale payment systems that are at the core of the world's major financial systems. It is widely recognized that a disturbance in one of these payment systems -- an operational mishap, the failure of a major counterparty, a liquidity problem in one of the money markets -- could have serious consequences for global trade and finance. Sections II and II of this paper review the nature and the objectives of ongoing and planned payment system reforms in the United States, and major European Union countries. Section IV discusses the impact of these reforms on the financial system, with particular emphasis on the implication for the availability and cost of intraday liquidity in financial markets. Section V examines the impact of the ongoing shift toward real-time, gross settlement payment systems -- the preferrred type of system for wholesale payments -- on liquidity, the relationship among yields of securities of varying liquidity, bid-ask spreads, and payments conventions in securities markets. The concluding section identifies some unresolved issues.

Author : David F. I. Folkerts-Landau,Peter M. Garber,Dirk Schoenmaker
Publisher : Unknown
Page : 48 pages
File Size : 50,5 Mb
Release : 1990
Category : Electronic
ISBN : OCLC:633910923

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The Reform of Wholesale Payment Systems and Its Impact of Financial Markets by David F. I. Folkerts-Landau,Peter M. Garber,Dirk Schoenmaker Pdf

Author : David Folkerts-Landau
Publisher : Unknown
Page : 54 pages
File Size : 45,9 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291214385

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The Reform of Wholesale Payment Systems and its Impact on Financial Markets by David Folkerts-Landau Pdf

This paper reviews the ongoing efforts to reduce the risks inherent in the world`s principal wholesale payment systems. The paper assesses the major policy proposals to contain the growth in intraday credit exposures that arises in net settlement wholesale payment systems and in the real-time gross systems in which the central bank provides daylight overdrafts. It also discusses the benefits of these risk-management policies, and we assess the adverse impact of applying interest charges for intraday central-bank credit or of collateralizing such credit on liquidity in financial markets.

Author : David Folkerts-Landau,Peter Garber,Dirk Schoenmaker
Publisher : Unknown
Page : 48 pages
File Size : 44,7 Mb
Release : 1996
Category : Electronic
ISBN : 1451845529

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The Reform of Wholesale Payment Systems and Its Impact on Financial Markets by David Folkerts-Landau,Peter Garber,Dirk Schoenmaker Pdf

This paper reviews the ongoing efforts to reduce the risks inherent in the world’s principal wholesale payment systems. The paper assesses the major policy proposals to contain the growth in intraday credit exposures that arises in net settlement wholesale payment systems and in the real-time gross systems in which the central bank provides daylight overdrafts. It also discusses the benefits of these risk-management policies, and we assess the adverse impact of applying interest charges for intraday central-bank credit or of collateralizing such credit on liquidity in financial markets.

Author : Maxwell J. Fry
Publisher : Routledge
Page : 192 pages
File Size : 53,7 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 : Stephen Millard,Andrew Haldane,Victoria Saporta
Publisher : Routledge
Page : 347 pages
File Size : 45,8 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 : Anonim
Publisher : Unknown
Page : 586 pages
File Size : 44,8 Mb
Release : 2000
Category : Bank failures
ISBN : UOM:39015062095537

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FDIC Banking Review by Anonim Pdf

Author : David Mayes,Geoffrey E. Wood
Publisher : Routledge
Page : 464 pages
File Size : 52,5 Mb
Release : 2007-01-18
Category : Business & Economics
ISBN : 9781134123803

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The Structure of Financial Regulation by David Mayes,Geoffrey E. Wood Pdf

This book examines the area of financial regulation in the banking sector. Editors Mayes and Wood bring together such acadmics as Charles Goodhart, Charles Calomiris and Kern Alexander whose expertise shines through this volume to provide a reference tool for researchers, students and bankers themselves which will prove invaluable.

Author : Harry Leinonen
Publisher : Unknown
Page : 364 pages
File Size : 55,5 Mb
Release : 2005
Category : Bank liquidity
ISBN : IND:30000093965220

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Liquidity, Risks and Speed in Payment and Settlement Systems by Harry Leinonen Pdf

Tiivistelmä.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 216 pages
File Size : 48,5 Mb
Release : 1998-01-01
Category : Business & Economics
ISBN : 9781451974515

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IMF Staff papers, Volume 45 No. 1 by International Monetary Fund. Research Dept. Pdf

This paper analyzes some leading indicators of currency crises, and proposes a specific early warning system. This system involves monitoring the evolution of several indicators that tend to exhibit an unusual behavior in the periods preceding a crisis. When an indicator exceeds a certain threshold value, this is interpreted as a warning “signal” that a currency crisis may take place. The variables that have the best track record within this approach include exports, deviations of the real exchange rate from trend, and the ratio of broad money to gross international reserves, output, and equity prices.

Author : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 51,7 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.