Listing 1 - 10 of 11 | << page >> |
Sort by
|
Choose an application
Choose an application
Choose an application
Why did the banks stop lending to one another, and why at this moment in history? Is the problem merely a matter of over-loose credit due to the relaxation of traditional prudence, or did global finance find itself at its limits, both technically and epis
Global Financial Crisis, 2008-2009. --- International finance. --- Interbank market.
Choose an application
Economic policy --- Economics --- Global Financial Crisis, 2008-2009 --- Interbank market --- International finance --- History
Choose an application
La monnaie magique, version actualisée de la planche à billets, est au cœur des débats actuels. Pour y répondre, cet ouvrage décrypte les mécanismes de la création-destruction monétaire par les banques. On y découvre également que les Banques centrales ne créent qu'une monnaie particulière, la monnaie interbancaire, utilisable uniquement par les banques et le Trésor. Leur rôle a cependant beaucoup évolué ces dernières années grâce au quantitative easing. Sur la question de la dette, l'ouvrage apporte un nouvel éclairage dans une conception pas très éloignée de la théorie monétaire moderne. Les difficiles questions de la place des marchés financiers, de l'origine de l'épargne et du financement des plus-values y trouvent des réponses.
Money supply --- Banks and banking --- Banks and banking, Central --- Interbank market --- Quantitative easing (Monetary policy) --- Debts, Public
Choose an application
The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk analysis is severely hampered by the lack of consistent data that capture the international dimensions of finance. While currently available data can be used more effectively, supervisors and other agencies need more and better data to construct even rudimentary measures of risks in the international financial system. Similarly, market participants need better information on aggregate positions and linkages to appropriately monitor and price risks. Ongoing initiatives that will help in closing data gaps include the G20 Data Gaps Initiative, which recommends the collection of consistent bank-level data for joint analyses and enhancements to existing sets of aggregate statistics, and the enhancement to the BIS international banking statistics.
Financial risk management. --- Banks and banking, International --- Financial crises --- Capital movements. --- Interbank market. --- Risk management. --- Mathematical models.
Choose an application
This paper analyzes the determinants of daily changes in Jordan's interbank market overnight rate. It not only quantifies the classic liquidity effect, but also uncovers a liquidity distribution effect on both sides of the market, and shows that their magnitude is a decreasing and convex function of the level of excess reserves. It finds that the volatility of rate changes depends much more on the reserve surplus accumulated within a maintenance period than on the level of excess reserves. As Carpenter and Demiralp (2006), it uses the series of the central bank's daily forecast errors to identify the liquidity effect.
Interbank market -- Econometric models. --- Interbank market -- Jordan. --- Liquidity (Economics) -- Jordan. --- Banks and Banking --- Finance: General --- Portfolio Choice --- Investment Decisions --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Central Banks and Their Policies --- Finance --- Banking --- Liquidity --- Excess liquidity --- Commercial banks --- Open market operations --- Economics --- Banks and banking --- United States
Choose an application
Interest rates in China comprise a mix of both market determined interest rates (interbank rates and bond yields), and regulated interest rates (lending and deposit rates), reflecting China's gradual process of interest rate liberalization. We argue, using a theoretical model and empirical analysis, that the regulation of key retail interest rates diminishes the ability of the market determined rates to act as independent price signals, or as benchmarks for use in asset pricing and monetary policy. Further interest rate liberalization should, therefore, strengthen the information conveyed by movements in interest rates, allowing for the better pricing of risk and capital.
Banks and banking, International -- Risk management -- Econometric models. --- Global Financial Crisis, 2008-2009. --- Interbank market -- Econometric models. --- Banks and Banking --- Finance: General --- Money and Monetary Policy --- Interest Rates: Determination, Term Structure, and Effects --- Monetary Policy --- General Financial Markets: General (includes Measurement and Data) --- Portfolio Choice --- Investment Decisions --- Finance --- Monetary economics --- Interbank rates --- Deposit rates --- Reserve requirements --- Interbank markets --- Liquidity --- Interest rates --- Monetary policy --- International finance --- Economics --- China, People's Republic of
Choose an application
This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia. Announcements of interest rate cuts, liquidity support, liability guarantees, and recapitalization were associated with a reduction of interbank risk premia, albeit to a different degree during the subprime and global phases of the crisis. Decisions not to reduce interest rates and bail out individual banks in an ad hoc manner had adverse repercussions, both domestically and abroad. The results are robust to controlling for the surprise content of announcements and using alternative measures of financial distress.
Financial crises. --- Interbank market. --- Liquidity (Economics). --- Monetary policy. --- Subprime mortgage loans. --- Global Financial Crisis, 2008-2009. --- Recessions. --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Business cycles --- Depressions --- Financial crises --- Banks and Banking --- Finance: General --- Financing Policy --- Financial Risk and Risk Management --- Capital and Ownership Structure --- Value of Firms --- Goodwill --- Financial Institutions and Services: Government Policy and Regulation --- General Financial Markets: Government Policy and Regulation --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial services law & regulation --- Economic & financial crises & disasters --- Finance --- Banking --- Bank bailouts --- Liquidity risk --- Credit risk --- Financial sector policy --- Financial risk management --- Crisis management --- Financial services industry --- Banks and banking --- United States
Choose an application
Over-the-counter (OTC) markets for derivatives, collateralized debt obligations, and repurchase agreements played a significant role in the global financial crisis. Rather than being traded through a centralized institution such as a stock exchange, OTC trades are negotiated privately between market participants who may be unaware of prices that are currently available elsewhere in the market. In these relatively opaque markets, investors can be in the dark about the most attractive available terms and who might be offering them. This opaqueness exacerbated the financial crisis, as regulators and market participants were unable to quickly assess the risks and pricing of these instruments. Dark Markets offers a concise introduction to OTC markets by explaining key conceptual issues and modeling techniques, and by providing readers with a foundation for more advanced subjects in this field. Darrell Duffie covers the basic methods for modeling search and random matching in economies with many agents. He gives an overview of asset pricing in OTC markets with symmetric and asymmetric information, showing how information percolates through these markets as investors encounter each other over time. This book also features appendixes containing methodologies supporting the more theory-oriented of the chapters, making this the most self-contained introduction to OTC markets available.
Over-the-counter markets. --- Capital assets pricing model. --- Capital asset pricing model --- CAPM (Capital assets pricing model) --- Pricing model, Capital assets --- OTC markets --- Over-the-counter securities --- Unlisted securities markets --- Capital --- Finance --- Investments --- Securities --- Mathematical models --- Over-the-counter markets --- Capital assets pricing model --- E-books --- Bellman's principle. --- OTC market. --- OTC trades. --- asset pricing. --- credit risk. --- debt. --- derivatives. --- equilibrium bargaining. --- equilibrium search. --- federal funds market. --- federal loans. --- global financial crisis. --- information exchange. --- interbank market. --- intraday allocation. --- large numbers. --- market opaqueness. --- over-the-counter market. --- percolation. --- posterior beliefs. --- private information. --- random matching. --- repurchase. --- search models. --- supply shocks. --- trading. --- transparency.
Listing 1 - 10 of 11 | << page >> |
Sort by
|