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Money and collateral /

Between 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized assets to collateralize borrowing. The subsequent crisis has reduced the pool of assets co...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Singh, Manmohan, 1964- (Autor), Stella, Peter, 1957- (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2012.
Colección:IMF working paper ; WP/12/95.
Temas:
Acceso en línea:Texto completo
Descripción
Sumario:Between 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized assets to collateralize borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains highly liquid.
Descripción Física:1 online resource (21 pages) : illustrations
Bibliografía:Includes bibliographical references.
ISBN:9781475521474
1475521472