LEADER 06325oam 22015254 450 001 9910813048103321 005 20240402045111.0 010 $a1-4755-8707-4 010 $a1-4755-7395-2 035 $a(CKB)2550000000106227 035 $a(EBL)1606679 035 $a(SSID)ssj0000942927 035 $a(PQKBManifestationID)11584475 035 $a(PQKBTitleCode)TC0000942927 035 $a(PQKBWorkID)10973897 035 $a(PQKB)10644877 035 $a(Au-PeEL)EBL1606679 035 $a(CaPaEBR)ebr10566397 035 $a(OCoLC)793658779 035 $a(IMF)WPIEE2012095 035 $a(IMF)WPIEA2012095 035 $a(MiAaPQ)EBC1606679 035 $a(EXLCZ)992550000000106227 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aMoney and Collateral /$fManmohan Singh, Peter Stella 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (23 p.) 225 1 $aIMF Working Papers 225 0$aIMF working policy ;$vWP/12/95 300 $aDescription based upon print version of record. 311 $a1-4755-2147-2 311 $a1-4755-0285-0 320 $aIncludes bibliographical references. 327 $aCover; 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? 327 $a6. 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; References 330 3 $aBetween 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized assets to collateralize borrowing. The subsequent crisis has reduced the pool of assets considered acceptable as collateral, resulting in a liquidity shortage. When trying to address this, policy makers will need to consider concepts of liquidity besides the traditional metric of excess bank reserves and do more than merely substitute central bank money for collateral that currently remains highly liquid. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/095 606 $aMoney 606 $aMonetary policy 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aIndustries: Financial Services$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinancial Institutions and Services: Government Policy and Regulation$2imf 606 $aInternational Monetary Arrangements and Institutions$2imf 606 $aCorporation and Securities Law$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aInternational Financial Markets$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aPortfolio Choice$2imf 606 $aInvestment Decisions$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aFinance$2imf 606 $aBanking$2imf 606 $aMonetary economics$2imf 606 $aCollateral$2imf 606 $aMonetary base$2imf 606 $aLiquidity$2imf 606 $aBank deposits$2imf 606 $aFinancial institutions$2imf 606 $aMoney$2imf 606 $aAsset and liability management$2imf 606 $aCurrencies$2imf 606 $aFinancial services$2imf 606 $aLoans$2imf 606 $aBanks and banking$2imf 606 $aMoney supply$2imf 606 $aEconomics$2imf 607 $aUnited States$2imf 615 0$aMoney. 615 0$aMonetary policy. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aMoney and Monetary Policy 615 7$aIndustries: Financial Services 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinancial Institutions and Services: Government Policy and Regulation 615 7$aInternational Monetary Arrangements and Institutions 615 7$aCorporation and Securities Law 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aInternational Financial Markets 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aPortfolio Choice 615 7$aInvestment Decisions 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aFinance 615 7$aBanking 615 7$aMonetary economics 615 7$aCollateral 615 7$aMonetary base 615 7$aLiquidity 615 7$aBank deposits 615 7$aFinancial institutions 615 7$aMoney 615 7$aAsset and liability management 615 7$aCurrencies 615 7$aFinancial services 615 7$aLoans 615 7$aBanks and banking 615 7$aMoney supply 615 7$aEconomics 676 $a332.1;332.152 700 $aSingh$b Manmohan$01631304 701 $aStella$b Peter$01642288 801 0$bDcWaIMF 906 $aBOOK 912 $a9910813048103321 996 $aMoney and Collateral$94030136 997 $aUNINA