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The economics of large-value payments and settlement [[electronic resource] ] : theory and policy issues for central banks / / edited by Mark Manning, Erlend Nier, and Jochen Schanz
| The economics of large-value payments and settlement [[electronic resource] ] : theory and policy issues for central banks / / edited by Mark Manning, Erlend Nier, and Jochen Schanz |
| Pubbl/distr/stampa | Oxford ; ; New York, : Oxford University Press, 2009 |
| Descrizione fisica | 1 online resource (243 p.) |
| Disciplina | 332.11 |
| Altri autori (Persone) |
ManningMark J
NierErlend SchanzJochen |
| Soggetto topico |
Banks and banking, Central
Payment |
| Soggetto genere / forma | Electronic books. |
| ISBN |
1-282-34933-3
9786612349331 0-19-157100-8 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; List of Figures; List of Tables; List of Boxes; List of Contributors; Introduction; 1 Money, banking and payments: historical evolution and the role of the central bank; 2 Sources of systemic risk in payments and settlement; 3 Governance and regulation of payment and settlement systems; 4 Future policy challenges for central banks; Part I: Money, banking and payments: historical evolution and the role of the central bank; 1 The foundations of money and payments; 1.1 The origins of money and payments; 1.2 The emergence of banks, including the early central banks
2 Payments and monetary and financial stability2.1 Central-bank money as the ultimate settlement asset; 2.2 Payments and monetary stability; 2.3 Payments and financial stability; 2.4 The value of payment systems to the real economy; 2.5 The broadening and deepening of financial market infrastructure and implications for central banks' financial stability objectives; Part II: Sources of systemic risk in payment and settlement systems; 3 System design and sources of credit risk in large-value payment and settlement systems; 3.1 Deferred net settlement in large-value payment systems 3.2 Managing credit risk in DNS systems3.3 Real-time gross settlement in large-value payment systems; 3.4 The choice of settlement model: drivers of the widespread adoption of RTGS in large-value payment systems; 4 Liquidity risk in large-value payment systems; 4.1 Liquidity and the incentive to delay payments; 4.2 Central banks' provision of liquidity in payment systems: the theory; 4.3 Central banks' intraday credit policies in practice; 4.4 Reducing the opportunity cost of collateralized intraday credit; 4.5 Mechanisms to promote efficient recycling of liquidity 4.6 Hybrid payment-system design4.7 Optimal channelling of payments; 5 Managing systemic risk in the clearance and settlement of foreign-exchange, securities and derivatives transactions; 5.1 Foreign-exchange settlement risk; 5.2 Settlement risk in securities settlement systems; 5.3 Management of replacement risk in clearinghouses; 6 Other sources of systemic risk: operational and business risk; 6.1 Operational risk; 6.2 Business risk; Part III: Public-policy intervention in payment and settlement systems; 7 Market failures in payment and settlement systems 7.1 Market failures: implications for systemic risk7.2 Market failures: implications for efficiency; 8 Ownership, governance and regulation of payment systems; 8.1 Public ownership and subsidization of payment systems; 8.2 Targeted intervention ('oversight'); 8.3 Mutual ownership and integration of external stakeholders; 8.4 Which authority should intervene?; 9 Central-bank oversight of payment and settlement systems in practice; 9.1 Oversight objectives; 9.2 Implementation of oversight; Part IV: Future policy challenges for central banks; 10 Banks providing infrastructure services 10.1 The provision of wholesale payments services |
| Record Nr. | UNINA-9910456086603321 |
| Oxford ; ; New York, : Oxford University Press, 2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
The economics of large-value payments and settlement [[electronic resource] ] : theory and policy issues for central banks / / edited by Mark Manning, Erlend Nier, and Jochen Schanz
| The economics of large-value payments and settlement [[electronic resource] ] : theory and policy issues for central banks / / edited by Mark Manning, Erlend Nier, and Jochen Schanz |
| Pubbl/distr/stampa | Oxford ; ; New York, : Oxford University Press, 2009 |
| Descrizione fisica | 1 online resource (243 p.) |
| Disciplina | 332.11 |
| Altri autori (Persone) |
ManningMark J
NierErlend SchanzJochen |
| Soggetto topico |
Banks and banking, Central
Payment |
| ISBN |
1-383-04657-3
0-19-161011-9 1-282-34933-3 9786612349331 0-19-157100-8 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; List of Figures; List of Tables; List of Boxes; List of Contributors; Introduction; 1 Money, banking and payments: historical evolution and the role of the central bank; 2 Sources of systemic risk in payments and settlement; 3 Governance and regulation of payment and settlement systems; 4 Future policy challenges for central banks; Part I: Money, banking and payments: historical evolution and the role of the central bank; 1 The foundations of money and payments; 1.1 The origins of money and payments; 1.2 The emergence of banks, including the early central banks
2 Payments and monetary and financial stability2.1 Central-bank money as the ultimate settlement asset; 2.2 Payments and monetary stability; 2.3 Payments and financial stability; 2.4 The value of payment systems to the real economy; 2.5 The broadening and deepening of financial market infrastructure and implications for central banks' financial stability objectives; Part II: Sources of systemic risk in payment and settlement systems; 3 System design and sources of credit risk in large-value payment and settlement systems; 3.1 Deferred net settlement in large-value payment systems 3.2 Managing credit risk in DNS systems3.3 Real-time gross settlement in large-value payment systems; 3.4 The choice of settlement model: drivers of the widespread adoption of RTGS in large-value payment systems; 4 Liquidity risk in large-value payment systems; 4.1 Liquidity and the incentive to delay payments; 4.2 Central banks' provision of liquidity in payment systems: the theory; 4.3 Central banks' intraday credit policies in practice; 4.4 Reducing the opportunity cost of collateralized intraday credit; 4.5 Mechanisms to promote efficient recycling of liquidity 4.6 Hybrid payment-system design4.7 Optimal channelling of payments; 5 Managing systemic risk in the clearance and settlement of foreign-exchange, securities and derivatives transactions; 5.1 Foreign-exchange settlement risk; 5.2 Settlement risk in securities settlement systems; 5.3 Management of replacement risk in clearinghouses; 6 Other sources of systemic risk: operational and business risk; 6.1 Operational risk; 6.2 Business risk; Part III: Public-policy intervention in payment and settlement systems; 7 Market failures in payment and settlement systems 7.1 Market failures: implications for systemic risk7.2 Market failures: implications for efficiency; 8 Ownership, governance and regulation of payment systems; 8.1 Public ownership and subsidization of payment systems; 8.2 Targeted intervention ('oversight'); 8.3 Mutual ownership and integration of external stakeholders; 8.4 Which authority should intervene?; 9 Central-bank oversight of payment and settlement systems in practice; 9.1 Oversight objectives; 9.2 Implementation of oversight; Part IV: Future policy challenges for central banks; 10 Banks providing infrastructure services 10.1 The provision of wholesale payments services |
| Record Nr. | UNINA-9910780428103321 |
| Oxford ; ; New York, : Oxford University Press, 2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||