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Collateral Reuse and Balance Sheet Space /
Transactions on wholesale capital markets are often secured by marketable collateral. However, collateral needs balance sheet space to move within the financial system. Certain new regulations that constrain private sector bank balance sheets may have the effect of impeding collateral flows. This ma...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Colección: | IMF working paper ;
WP/17/113. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover; Contents; Abstract; I. Introduction; II. The Pledged Collateral Market; A. Pledged Collateral and the Discomfort with "Collateral Chains"; B. Sources and Users of Pledged Collateral; III. Quantitative Easing (QE) and Regulations; IV. Evidence From SEC-Lending, Derivatives, and Prime-Brokerage Markets; A. Securities Lending; B. Derivative Markets Use of Collateral; C. Prime Brokerage; D. Summary; V. Collateral Reuse and Balance Sheet Constraints; VI. Conclusion; Tables; 1. Sources of Pledged Collateral, Volume of Market, and Velocity; 2. Securities Lending (2007-2015).
- 3. Risk After Enforcement of Netting Agreements in OTC DerivativesFigures; 1. The Sources and Users of Collateral (2007, 2010-2015); 2. Bilateral Pledged Collateral Flows-via the Key Banks in this Market; 3. The Collateral Map-QE and Regulatory Changes; 4. Equity Long/Short Hedge Position; 5. By-Passing the Plumbing-An Example of a QE Unwind; Boxes; 1. The 10-15 Banks at the Core of Global Financial Plumbing; 2. The Global Bilateral Collateral Market; References; Annexes; I. Rehypothecation and the Lehman Episode; II. Methodology for Calculating the Velocity of Collateral.