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100   $a20100720d2009      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aCounterparty risk, impact on collateral flows, and role for central counterparties$b[electronic resource] /$fprepared by Manmohan Singh and James Aitken
210   $a[Washington, D.C.] $cInternational Monetary Fund$dc2009
215   $a1 online resource (17 p.)
225 1 $aIMF working paper ;$vWP/09/173
300   $aAt head of title: Monetary and Capital Markets Department.
300   $a"August 2009."
311   $a1-4519-1747-3 
320   $aIncludes bibliographical references.
327   $aContents; I. Introduction; II. Counterparty Risk; Figures; 1. Illustrative Repricing of Derivatives When a Large Financial Institution Fails; III. The Changing Profile of Counterparty Risk in the United States; IV. The Adverse Impact of Counterparty Risk on Global Liquidity; 2. Counterparty Liabilities of Major U.S. Banks; Tables; 1. Snapshot of Reduced Collateral Posting Among LCFIs; 2. Securities Lending by Major Custodians; V. Regulatory Thrust for a Central Counterparty; 3. Cash Holding by Major LCFIs; VI. Conclusions and Policy Implications; Appendixes
327   $a1. Methodological Issues in Computing Connectedness in Counterparty RiskReferences
330   $aCounterparty risk in the United States stemming from exposures to OTC derivatives payables (after netting) is now concentrated in five banks?Goldman Sachs, JPMorgan, Bank of America, Morgan Stanley and Citi. This note analyzes how such risks have shifted over the past year. We estimate that the adverse impact of counterparty risk on high-grade collateral flows and global liquidity due to decrease in rehypothecation, reduced securities lending, and hoarding of cash by major banks is at least 5 trillion. In order to mitigate counterparty risk, there have been regulatory initiatives to establish
410  0$aIMF working paper ;$vWP/09/173.
606   $aCredit$xRisk assessment
606   $aRisk management$zUnited States
606   $aBanks and banking$zUnited States
606   $aFinance$zUnited States
608   $aElectronic books.
615  0$aCredit$xRisk assessment.
615  0$aRisk management
615  0$aBanks and banking
615  0$aFinance
676   $a332.63232
700   $aSingh$b Manmohan$f1964-$0971070
701   $aAitken$b James$0191524
712 02$aInternational Monetary Fund.$bMonetary and Capital Markets Dept.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910464006703321
996   $aCounterparty risk, impact on collateral flows, and role for central counterparties$92292179
997   $aUNINA