Chapter 2 Developing a Market for the Official SDR
Author:
Warren L. Coats
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Language:
English
Print Publication Date:
15 Jun 1992
Keywords:
BOOK; bank; central bank; government; SDR; banking organization; SDRS spot; interest income; SDR basis; SDR value; SDR exchange; Currencies; Exchange rates; SDR interest rate; Forward exchange rates; Reserve assets

Abstract

A major difficulty in introducing a discussion about the SDR or the European currency unit (ECU) is the fact that each can potentially refer to a number of different things. The SDR and the ECU are, first of all—and, in an important sense, primarily—units of account. As such, the manner in which the value of each unit is determined or established and its behavior over time are of primary importance. Both the SDR and the ECU have their values defined in reference to baskets of currencies. These baskets are generally reviewed and adjusted every five years.

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Cover Current Legal Issues Affecting Central Banks, Volume I
Current Legal Issues Affecting Central Banks, Volume I
ISBN:
9781557751423
Publication Date:
15 Jun 1992
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557751423.071
Pages:
660
Front Matter
Chapter 1 The Fund Agreement in the Courts
Chapter 3 The Role of the BIS in International Monetary Cooperation and Its Tasks Relating to the ECU
Chapter 4 History of the Debt Crisis
Chapter 5 New Proposals for the Debt Crisis
Chapter 6 World Bank Cofinancing and Recent Developments with Respect to the Heavily Indebted Countries
Chapter 7 Roundtable Discussion of the Debt Crisis
Chapter 8 Sovereign Immunity and Central Bank Immunity in the United States
Chapter 9 The Settlement of Disputes Regarding Foreign Investments: The Role of the World Bank, with Particular Reference to ICSID and MIGA
Chapter 10 Deposit Insurance: Current Problems and Proposals
Chapter 11 Commercial Bank Liability Under the Law of the United States for Deposits in Foreign Branches That Are Subject to Expropriation or Exchange Restrictions Imposed by Sovereign Governments
Chapter 12 Banking Secrecy: Coping with Money Laundering in the International Arena
Chapter 13 Deregulation of Banking: A Worldwide Phenomenon
Chapter 14 The Legal Barrier Between U.S. Investment and Commercial Banking: Its Origins, Application, and Prospects
Chapter 15 Stability of Financial Markets: Federal Reserve Responsibility?
Chapter 16 The Basle Concordat: International Collaboration in Banking Supervision
Chapter 17 Risk-Based Assessment of the Capital Adequacy of Commercial Banks *
Chapter 18 The Legal Framework for Islamic Banking: Pakistan’s Experience
19 Proposed Article 4A of the Uniform Commercial Code
20 The Work of the United Nations Commission on International Trade Law in Electronic Funds Transfers
21 The Proposed UNCITRAL Convention on International Bills of Exchange and International Promissory Notes
Back Matter