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|Additional Physical Format:||Print version:
Should Unconventional Balance Sheet Policies be Added to the Central Bank Toolkit? A Review of the Experience So Far.
Washington : International Monetary Fund, ©2011
|Material Type:||Document, Government publication, International government publication, Internet resource|
|Document Type:||Internet Resource, Computer File|
|All Authors / Contributors:||
Mark R Stone; Kenji Fujita; Kotaro Ishi; International Monetary Fund. Monetary and Capital Markets Department,
|ISBN:||128356971X 9781283569712 9781462302178 1462302173|
|Description:||1 online resource (71 pages) : illustrations.|
|Contents:||Cover Page; Title Page; Copyright Page; Contents; Glossary; I. Introduction and Summary; 1. Unconventional Central Bank Balance Sheet Policies; II. Background; III. The Experience with Unconventional Central Bank Balance Sheet Policies; 2. Examples of Central Bank Unconventional Balance Sheet Policies; 1. Accumulated Balance Sheet Changes, Major Central Banks; 2. Maturing and Collateral Composition of Liquidity Support, Reserve Bank of Australia; 3. Liquidity Support to Domestic Funding Markets; 4. Liquidity Support to Domestic Credit Markets. 5. Maximum TED Spread and Maximum Domestic Market Support3. Terms of Funding Market and Credit Market Liquidity Support Operations; 4. Credit Risk Exposures Associated with Credit Market Liquidity Support; 6. The Maximum Amount of Bilateral Swap with the Fed; 7. Selected Central Banks, Terms of Foreign Exchange Liquidity Provision Sourced from the Federal Reserve; 8. Selected Countries, Policy Interest Rates; 9. Bond Purchases and Policy Interest Rate; 10. Holders of Public Securities; 11. Holders of Public Securities, Flows. 12. Exchange Rate, Policy Interest Rate, and Foreign Exchange PurchasesIV. Adding Balance Sheet Policies to the Standard Central Bank Toolkit; 1. Challenges and Risks Posed by Liquidity Provision; 2. Challenges and Risks from Central Bank Bond Purchases and Credit Provision; V. Implementing Balance Sheet Policies; 3. Best Practices of Central Bank Balance Sheet Policies; VI. Conclusion; I. Central Bank Liquidity Support for Individual Financial Institutions During the Recent Crisis; 13. Changes of Libor-OIS Spreads from the Eent Day; II. Unraveling Financial Risks of Bond Purchase. 14. Stylized Balance Sheet-Central Bank, Government, and Consolidated Sovereign15. Estimated Maturity of Consolidated Sovereign Debt; III. Best Practices; References; Footnotes.|
|Series Title:||IMF working paper, WP/11/145.|
|Responsibility:||Mark Stone, Kenji Fujita, and Kotaro Ishi.|