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Financial Spillovers to Chile

Financial Spillovers to Chile »

Source: Financial Spillovers to Chile

Volume/Issue: 2012/254

Series: IMF Working Papers

Author(s): Jiri Podpiera

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 2012

ISBN: 9781475552195

Keywords: Credit Spread, Interbank Market Spread, Financial Spillover, bond, interbank market, bond market, banking, banking sector, Asset Pricing,

This paper quantifies financial spillovers from global risk factors to banks' funding costs in Chile. It decomposes Chilean banks' bond and interbank spreads into domestic and external factors. The results suggest...

Financial Institutions, Financial Contagion, and Financial Crises

Financial Institutions, Financial Contagion, and Financial Crises »

Source: Financial Institutions, Financial Contagion, and Financial Crises

Volume/Issue: 2000/92

Series: IMF Working Papers

Author(s): Haizhou Huang , and Chenggang Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2000

ISBN: 9781451851588

Keywords: financial contagion, financial crises, interbank market, bank run, bank runs

Financial crises are endogenized through corporate and interbank market institutions. Single-bank financing leads to a pooling equilibrium in the interbank market. With private information about one’s own so...

What Drives China's Interbank Market?

What Drives China's Interbank Market? »

Source: What Drives China's Interbank Market?

Volume/Issue: 2009/189

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873368

Keywords: Interbank market, GARCH, reserve requirements, bond, deposit rate, reserve requirement,

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 int...

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis »

Source: The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

Volume/Issue: 2009/206

Series: IMF Working Papers

Author(s): Heiko Hesse , and Nathaniel Frank

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873535

Keywords: Interbank markets, Markov-Switching, GARCH, money markets, central bank, money market, discount rates, interbank money markets, Financial Markets and the Macroeconomy, Instruments

This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in unsecured interbank markets during the first phase of the subprime crisis which began in July...

Operational Issues Related to the Functioning of Interbank Foreign Exchange Markets in Selected African Countries

Operational Issues Related to the Functioning of Interbank Foreign Exchange Markets in Selected African Countries »

Source: Operational Issues Related to the Functioning of Interbank Foreign Exchange Markets in Selected African Countries

Volume/Issue: 1994/48

Series: IMF Working Papers

Author(s): Yin-Fun Lum , and Calvin McDonald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1994

ISBN: 9781451972290

Keywords: foreign exchange, interbank market, foreign exchange market, exchange rate, exchange rates, Gambia,

This paper discusses the main operational issues involved in the implementation of interbank foreign exchange systems in selected African countries. The countries considered are The Gambia, Ghana, Kenya, Mozambique...

Foreign Exchange Auctions and Fixing

Foreign Exchange Auctions and Fixing »

Source: Foreign Exchange Auctions and Fixing : A Review of Performance

Volume/Issue: 1994/119

Series: IMF Working Papers

Author(s): Arto Kovanen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1994

ISBN: 9781451940190

Keywords: foreign exchange, exchange rate, interbank market, exchange rates, foreign exchange market

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

Sovereigns and Financial Intermediaries Spillovers

Sovereigns and Financial Intermediaries Spillovers »

Source: Sovereigns and Financial Intermediaries Spillovers

Volume/Issue: 2019/43

Series: IMF Working Papers

Author(s): Hamid Tabarraei , Abdelaziz Rouabah , and Olivier Pierrard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2019

ISBN: 9781498300704

Keywords: Central banks, Interest rates on loans, Bank capital, Market interest rates, Bank liquidity, Sovereign risk, Contagion, Interbank market, interbank, deposit rate

We examine the spillover effects between sovereigns and banks in a model with a heterogeneous banking system. An increase in sovereign's default risk affects financial intermediaries through two channels in this mo...

A Simple Model of An International Lender of Last Resort

A Simple Model of An International Lender of Last Resort »

Source: A Simple Model of An International Lender of Last Resort

Volume/Issue: 2000/75

Series: IMF Working Papers

Author(s): Haizhou Huang , and C. Goodhart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2000

ISBN: 9781451849721

Keywords: International lender of last resort, banking crisis, currency crisis, interbank market, banking, contagion, financial contagion

This paper develops a simple model of an international lender of last resort (ILOLR). The world economy consists of many open economies, each with a banking system and a central bank operating under a pegged exchan...

What Drives the POLONIA Spread in Poland?

What Drives the POLONIA Spread in Poland? »

Source: What Drives the POLONIA Spread in Poland?

Volume/Issue: 2012/215

Series: IMF Working Papers

Author(s): Yinqiu Lu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505658

Keywords: POLONIA, interbank market, GARCH, banking, central bank, banking system, And Garch,

Since the start of the 2008 - 09 financial crisis, the Polish Overnight Index Average (POLONIA) has persistently been below the policy rate, suggesting a limited influence of the NBP's open market operations on the...

The Liquidity and Liquidity Distribution Effects in Emerging Markets

The Liquidity and Liquidity Distribution Effects in Emerging Markets »

Source: The Liquidity and Liquidity Distribution Effects in Emerging Markets : The Case of Jordan

Volume/Issue: 2009/228

Series: IMF Working Papers

Author(s): Jérôme Vandenbussche , Stanley Watt , and Szabolcs Blazsek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

ISBN: 9781451873757

Keywords: interbank market, liquidity effect, liquidity distribution, banking, central bank, banking system,

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 side...