06325oam 22015254 450 991081304810332120240402045111.01-4755-8707-41-4755-7395-2(CKB)2550000000106227(EBL)1606679(SSID)ssj0000942927(PQKBManifestationID)11584475(PQKBTitleCode)TC0000942927(PQKBWorkID)10973897(PQKB)10644877(Au-PeEL)EBL1606679(CaPaEBR)ebr10566397(OCoLC)793658779(IMF)WPIEE2012095(IMF)WPIEA2012095(MiAaPQ)EBC1606679(EXLCZ)99255000000010622720020129d2012 uf 0engurcn|||||||||txtccrMoney and Collateral /Manmohan Singh, Peter Stella1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (23 p.)IMF Working PapersIMF working policy ;WP/12/95Description based upon print version of record.1-4755-2147-2 1-4755-0285-0 Includes bibliographical references.Cover; Contents; I. Introduction; II. Money and the (Adjusted) Money Multiplier; Figure; 1. Monetary Base and Deposits at the Central Bank (1959-2011); III. Collateral; 2. U.S. Total Credit Market Assets (ratio to GDP); Table; 1. Definition of Terms Used; 3. U.S. Ratio of Total US Financial Intermediaries Liabilities to Ultimate Liquidity; 4. Ratio of Total US Commercial Bank Liabilities to Ultimate Liquidity; 5. Ratio of Total US Nonbank Financial Intermediaries Liabilities to their holdings of C1; IV. Safe Assets and Treasury-bills-What Determines their Supply?6. Ratio of T-Bills/Total Issuance by U.S. Treasury Since 1982 V. Collateral Chains; VI. Monetary Policy and Financial Lubrication; VII. Conclusion; 7. Bills/Total Issuance Relative to 10 year Yields minus 6-month Yields (1961-2011); Annex; 1. Debt Management Strategy of U.S. Treasury since the 1960's; ReferencesBetween 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized assets to collateralize borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains highly liquid.IMF Working Papers; Working Paper ;No. 2012/095MoneyMonetary policyBanks and BankingimfFinance: GeneralimfMoney and Monetary PolicyimfIndustries: Financial ServicesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfFinancial Institutions and Services: Government Policy and RegulationimfInternational Monetary Arrangements and InstitutionsimfCorporation and Securities LawimfGeneral Financial Markets: Government Policy and RegulationimfInternational Financial MarketsimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfPortfolio ChoiceimfInvestment DecisionsimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfFinanceimfBankingimfMonetary economicsimfCollateralimfMonetary baseimfLiquidityimfBank depositsimfFinancial institutionsimfMoneyimfAsset and liability managementimfCurrenciesimfFinancial servicesimfLoansimfBanks and bankingimfMoney supplyimfEconomicsimfUnited StatesimfMoney.Monetary policy.Banks and BankingFinance: GeneralMoney and Monetary PolicyIndustries: Financial ServicesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesFinancial Institutions and Services: Government Policy and RegulationInternational Monetary Arrangements and InstitutionsCorporation and Securities LawGeneral Financial Markets: Government Policy and RegulationInternational Financial MarketsMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralPortfolio ChoiceInvestment DecisionsMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsFinanceBankingMonetary economicsCollateralMonetary baseLiquidityBank depositsFinancial institutionsMoneyAsset and liability managementCurrenciesFinancial servicesLoansBanks and bankingMoney supplyEconomics332.1;332.152Singh Manmohan1631304Stella Peter1642288DcWaIMFBOOK9910813048103321Money and Collateral4030136UNINA