The Great Financial Plumbing
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The Great Financial Plumbing
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Author : Karel Lannoo
language : en
Publisher: Rowman & Littlefield
Release Date : 2015-09-30
The Great Financial Plumbing written by Karel Lannoo and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-30 with Business & Economics categories.
The financial crisis has led to a far-reaching redesign of the European regulatory and supervisory framework. Following the commitments made in the context of the G-20, but also reacting to internal shortcomings, the EU engaged in a massive program to re-regulate financial markets. The EU furthermore redesigned the structure for supervisory cooperation, initially through the European Supervisory Authorities, and later in its ambition to form the Banking Union. In The Great Financial Plumbing, Karel Lannoo systematically assesses the new regulatory and supervisory framework. The book’s structure follows the big questions on the agenda: 1) What is Banking Union? 2) How have the concerns of the G-20 been addressed by the EU (oversight of credit-rating agencies, better capital for banks, the re-regulation of securities and derivatives markets, asset management, depositor protection and bank resolution)? 3) How were uniquely EU rules on state aid applied to the banking sector? This book is designed to give professionals, policy-makers and students a better understanding of the new regulatory framework and insights into the policy context that has led to the new rules governing financial markets in Europe.
Financial Plumbing And Monetary Policy
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Author : Mr.Manmohan Singh
language : en
Publisher: International Monetary Fund
Release Date : 2014-06-20
Financial Plumbing And Monetary Policy written by Mr.Manmohan Singh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-20 with Business & Economics categories.
This paper focuses on how changes in financial plumbing of the markets may impact the monetary policy options as central banks contemplate lift off from zero lower bound (ZLB). Under the proposed regulations, banks will face leverage ratio constraints. As a result of quantitative easing (QE), banks want balance sheet “space” for financial intermediation/ non-depository activities. At the same time, regulatory changes are boosting demand for high quality liquid assets. The paper also discusses the role of repo markets and the importance of collateral velocity and the need to avoid wedges between repo and monetary policy rates when leaving ZLB.
Collateral And Financial Plumbing
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Author : Manmohan Singh
language : en
Publisher:
Release Date : 2016
Collateral And Financial Plumbing written by Manmohan Singh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Credit categories.
Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes--including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement--the role of effective collateral management in monetizing assets has never been more important.
Emerging Market Securities Access To Global Plumbing
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Author : Gongpil Choi
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-26
Emerging Market Securities Access To Global Plumbing written by Gongpil Choi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-26 with Business & Economics categories.
What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability enhances financial stability and reduces dollar funding risk. We also explain the Eurozone collateral pool to incentivize EMs, and why many securities (e.g., BTPs, Italy) are acceptable in London but not EM securities. Looking forward, EMs liaison with International Central Securities Depositories (ICSDs), and global banks’ balance sheet capacity to intermediate cross-border collateral will be crucial for this market to develop.
The Pay Off
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Author : Gottfried Leibbrandt
language : en
Publisher: Elliott & Thompson
Release Date : 2022-04-14
The Pay Off written by Gottfried Leibbrandt and has been published by Elliott & Thompson this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-14 with categories.
How we pay is so fundamental that it underpins everything - from trade to taxation, stocks and savings to salaries, pensions and pocket money. Rich or poor, criminal, communist or capitalist, we all rely on the same payments system, day in, day out. It sits between us and not just economic meltdown, but a total breakdown in law and order. Why then do we know so little about how it really works? As you read this, technology is dismantling payment barriers and governments are erecting them; cash is on the way out, and crypto and BigTech are fighting their way in. The Europeans are heavily regulated, the Americans oddly backward, and the Chinese hoping to lead the way forward. Challenging our understanding about where financial power really lies, The Pay Off shows us that the most important thing about money is the way we move it. Leibbrandt and De Terán shine a light on the hidden workings of the humble payment - and reveal both how our payment habits are determined by history as well as where we go from here. From national customs to warring nation states, geopolitics will shape the future of payments every bit as much as technology.
Real Market Economics
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Author : Philip Rush
language : en
Publisher: Springer
Release Date : 2017-12-08
Real Market Economics written by Philip Rush and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-08 with Business & Economics categories.
This book provides a framework for understanding the economics that drive markets, enabling investment professionals to understand the reality of markets and models, and to ‘be where the profits are’. Economics is about the allocation of resources, so it is at the heart of markets. And yet to many, economics is a field that feels far removed from the realities of what they see trading. Common sense, some entrepreneurial intuition and a decent dose of luck might seem like the only tools one needs to navigate a profitable course, especially when approaching a new financial market. This is, however, a weak framework. It is one where inconsistencies can thrive, cancelling out the rewards of erstwhile successful views or leaving no protection when risks crystallize. Of course, luck is always welcome, but there is no accounting for it. Relying on luck for returns is to make those returns completely un-replicable and thus unstable – a recipe for an unintentionally short relationship with real markets. A robust framework is needed instead. Split into three parts, Real Market Economics first builds the core framework of economic concepts, starting with real levels of activity before turning to growth in it and then prices, ending with the dynamics of business cycles. Part two adds on the stabilizing crossbeams, including the new macroprudential policies next to the more conventional monetary and fiscal ones. It then addresses how we might watch and anticipate policy changes. Finally, part three liberally coats the framework with financial markets, thereby making the completed framework's robust structure truly useful for investing in real markets.
Central Banking 101
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Author : Joseph Wang
language : en
Publisher: Joseph Wang
Release Date : 2020-01-18
Central Banking 101 written by Joseph Wang and has been published by Joseph Wang this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-18 with Business & Economics categories.
Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand. The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policy makers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk. Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. This book is a distillation of his experience that aims to educate and demystify. After reading this book, you will understand how money is created, how the global dollar system is structured, and how it all fits into the broader financial system. The views in this book do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.
Housekeeping And Plumbing
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Author : Jeppe Ladekarl
language : en
Publisher: World Bank Publications
Release Date : 2004
Housekeeping And Plumbing written by Jeppe Ladekarl and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Investments, American categories.
Recommendations For Central Counterparties
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Author : Group of Ten. Committee on Payment and Settlement Systems
language : en
Publisher:
Release Date : 2004
Recommendations For Central Counterparties written by Group of Ten. Committee on Payment and Settlement Systems and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Clearing of securities categories.
Plumbers And Visionaries
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Author : Peter Norman
language : en
Publisher: John Wiley & Sons
Release Date : 2008-07-31
Plumbers And Visionaries written by Peter Norman and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07-31 with Business & Economics categories.
Plumbers and Visionaries: Securities Settlement and Europe’s Financial Market is a path-breaking account of the history and future of the securities settlement industry in Europe. Written by experienced journalist and author, Peter Norman, this book takes a look at the less visible, but nevertheless critical segment of the global capital markets, following the development of securities settlement across Europe’s frontiers. It encompasses the free-wheeling days of the Eurobond market in the 1960s, through the growing integration of the European Union, to the highly regulated and efficient multi-trillion euro business securities settlement it is today. This book is the story of a financial sector that has grown hugely in importance in the 40 years since Euroclear, now the world’s premier settlement system for domestic and international securities transactions, was created to deal with a settlement crisis that threatened to smother the international capital market in its infancy. Beginning with the settlement crisis in the Eurobond market, this book describes how Euroclear and later Cedel, its arch-rival, were founded to deal with the problem. It follows the challenges posed by cross-border settlement for a growing range of securities when most financial infrastructures operated only within national frontiers. The book demonstrates how securities settlement became an issue for public policy after the stock market crash of 1987 and how the problems of cross-border settlement moved rapidly up the European policy agenda after the euro’s launch. More than a mere history, this book engages with the people who created the modern European securities settlement industry and taps into the often entertaining memories of its founding fathers. This book also focuses on the difficulties and challenges of cross-border transactions which have been identified as hampering Europe’s economic growth. It looks at the present state of the industry seeking a way forward so that the securities settlement infrastructure will better serve a single European capital market.