IMF Working Papers Volume 2000 Issue 034: Toward a Framework for Systemic Liquidity Policy (2000)

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Toward a Framework for Systemic Liquidity Policy

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J. Kimball Hobbs

J. Kimball Hobbs null

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Ms. Claudia H Dziobek

Ms. Claudia H Dziobek
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Mr. Dewitt D Marston

Mr. Dewitt D Marston
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Series:: IMF Working Papers

Volume/Issue:: Volume 2000: Issue 034

Language:: English

Publication Date:: 01 Mar 2000

DOI:: https://doi.org/10.5089/9781451845259.001

ISBN:: 9781451845259

ISSN:: 1018-5941

Pages:: 40

Keywords:: WP; commercial bank; foreign currency; type of restructuring plan; balance sheet; bank assets; bank creditor; banking sector; lender of last resort; liquidity infrastructure; Financial architecture; liquidity management; creditor rights; microstructure; bank management capability; bank vulnerability; dispersion ratio; bank liability; excess reserves; bank experiences problem; Liquidity; Infrastructure; Currencies; Commercial banks

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Series:: IMF Working Papers

Volume/Issue:: Volume 2000: Issue 034

Language:: English

Publication Date:: 01 Mar 2000

DOI:: https://doi.org/10.5089/9781451845259.001

ISBN:: 9781451845259

ISSN:: 1018-5941

Pages:: 40

Keywords:: WP; commercial bank; foreign currency; type of restructuring plan; balance sheet; bank assets; bank creditor; banking sector; lender of last resort; liquidity infrastructure; Financial architecture; liquidity management; creditor rights; microstructure; bank management capability; bank vulnerability; dispersion ratio; bank liability; excess reserves; bank experiences problem; Liquidity; Infrastructure; Currencies; Commercial banks

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

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International policy efforts to strengthen financial systems have highlighted the role of liquidity. This paper explores a framework to assess arrangements for market liquidity and lays out elements of systemic liquidity policy. Robust arrangements for liquidity provide confidence to market participants that liquidity can be mobilized on demand in a predictable and transparent manner. These are crucial to resilience and effective monetary operations. Arrangements include several prudential and institutional elements and national authorities have an important role in promoting their adoption. A survey of 14 countries and two in-depth studies of Mexico and Argentina are included for illustration.

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IMF Working Papers

ISSN:: 1018-5941

Publisher:: International Monetary Fund

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