The Resource Liquidity regulation and the implementation of monetary policy, by Morten L. Bech and Todd Keister

Liquidity regulation and the implementation of monetary policy, by Morten L. Bech and Todd Keister

Label
Liquidity regulation and the implementation of monetary policy
Title
Liquidity regulation and the implementation of monetary policy
Statement of responsibility
by Morten L. Bech and Todd Keister
Creator
Contributor
Subject
Language
eng
Summary
"In addition to revamping existing rules for bank capital, Basel III introduces a new global framework for liquidity regulation. One part of this framework is the liquidity coverage ratio (LCR), which requires banks to hold sufficient high-quality liquid assets to survive a 30-day period pf market stress. As monetary policy typically involves targeting the interest rate on loans of one of these ssets - central bank reserves - it is important to understand how this regulation may impact the efficacy of central bank's current operational frameworks. We introduce term funding and an LCR requirement into an otherwise standard model of monetary policy implementation. Our model shows that if banks face the possibility of an LCR shortfall, then the usual link between open market operations and the overnight interest rate changes and the short end of the yield curve becomes steeper. Our results suggest that central banks may want to adjust their operational frameworks as the new regulation is implemented"--Abstract/
Member of
Cataloging source
NDD
http://library.link/vocab/creatorName
Bech, Morten L
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
Keister, Todd
Series statement
BIS working papers,
Series volume
no. 432
http://library.link/vocab/subjectName
  • Bank liquidity
  • Banks and banking
  • Monetary policy
Label
Liquidity regulation and the implementation of monetary policy, by Morten L. Bech and Todd Keister
Instantiates
Publication
Note
"October 2013"
Carrier category
volume
Carrier MARC source
rdacarrier
Content category
text
Content type MARC source
rdacontent
Control code
ocn862671716
Dimensions
30 cm
Extent
39 pages
Media category
unmediated
Media MARC source
rdamedia
Other physical details
colour illustrations
System control number
(OCoLC)862671716
Label
Liquidity regulation and the implementation of monetary policy, by Morten L. Bech and Todd Keister
Publication
Note
"October 2013"
Carrier category
volume
Carrier MARC source
rdacarrier
Content category
text
Content type MARC source
rdacontent
Control code
ocn862671716
Dimensions
30 cm
Extent
39 pages
Media category
unmediated
Media MARC source
rdamedia
Other physical details
colour illustrations
System control number
(OCoLC)862671716

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