Cover IMF Staff Country Reports
Chile: Financial Sector Assessment Program—Technical Note on Systemic Liquidity
Author:
International Monetary Fund. Monetary and Capital Markets Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 294
Language:
English
Publication Date:
12 Sep 2022
DOI:
https://doi.org/10.5089/9798400219566.002
ISBN:
9798400219566
ISSN:
1934-7685
Pages:
33
Keywords:
ELA framework; ELA regulation; funding plan template; risk equivalence; ELA procedure; Lender of last resort; Liquidity; Collateral; Money markets; Bonds; Global
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Chile is characterized by a highly interconnected financial system, which presents risks and opportunities for the development of liquidity markets. On the one hand, the large domestic non-bank financial sector (pension funds, mutual funds, insurers) creates a large investor base for domestic debt securities, fostering the development of these markets. On the other hand, the non-bank financial sector is vulnerable to shocks which may have significant spillovers to funding markets and to the banking system.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 294