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Asset Management At Central Banks And Monetary Authorities

Asset Management at Central Banks and Monetary Authorities PDF

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Author: Jacob Bjorheim
Publisher: Springer Nature
ISBN: 3030434575
Size: 21.20 MB
Format: PDF, ePub
Category :
Languages : en
Pages :
View: 3844



Central Bank Reserve Management Practices

Central Bank Reserve Management Practices PDF

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Author: Reserve Advisory and Management Partnership
Publisher:
ISBN:
Size: 33.67 MB
Format: PDF, Docs
Category :
Languages : en
Pages :
View: 342



Procyclicality In Central Bank Reserve Management

Procyclicality in Central Bank Reserve Management PDF

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Author: Jukka Pihlman
Publisher: International Monetary Fund
ISBN: 145524046X
Size: 34.11 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 27
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A decade-long diversification of official reserves into riskier investments came to an abrupt end at the beginning of the global financial crisis, when many central bank reserve managers started to withdraw their deposits from the banking sector in an apparent flight to quality and safety. We estimate that reserve managers pulled around US$500 billion of deposits and other investments from the banking sector. Although clearly not the main cause, this procyclical investment behavior is likely to have contributed to the funding problems of the banking sector, which required offsetting measures by other central banks such as the Federal Reserve and Eurosystem central banks. The behavior highlights a potential conflict between the reserve management and financial stability mandates of central banks. This paper analyzes reserve managers’ actions during the crisis and draws some lessons for strategic asset allocation of reserves going forward.

Central Bank Reserve Management

Central Bank Reserve Management PDF

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Author: Age Bakker
Publisher: Edward Elgar Publishing
ISBN: 1782541675
Size: 80.33 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 257
View: 5394


This book addresses the welfare gains and costs of accumulating foreign exchange reserves and the implications for the functioning of the global financial system. The tremendous growth of central bank reserves has led to an increased focus on raising returns in addition to the traditional preference central banks have for maintaining liquid portfolios. Issues such as asset and currency diversification, the impact of new accounting rules and the profit distribution agreements with the government are analysed, adding new insights to the current debate on the optimal size of central bank reserves. This book brings together a wide range of experts from central banks, investment banks and the academic community.

Central Bank Reserves And Sovereign Wealth Management

Central Bank Reserves and Sovereign Wealth Management PDF

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Author: A. Berkelaar
Publisher: Springer
ISBN: 0230250815
Size: 27.59 MB
Format: PDF, Kindle
Category : Political Science
Languages : en
Pages : 362
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This is an edited collection of essential readings on Reserves Management and Sovereign Wealth Management, from the recent SAA conference organized by the Bank for International Settlements, the European Central Bank and the World Bank Treasury. It offers an exchange of views on technical and implemental issues of financial models.

Sovereign Assets And Liabilities Management

Sovereign Assets and Liabilities Management PDF

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Author: VÁRIOS AUTORES
Publisher: International Monetary Fund
ISBN: 9781557756947
Size: 55.84 MB
Format: PDF, Mobi
Category : Law
Languages : en
Pages : 277
View: 5529


The papers contained in this publication were presented at an International Monetary Fund organised conference held in Hong Kong in 1996. The conference focused on a wide range of issues confronting policy makers in managing their sovereign assets and liabilities in a world of mobile capital and integrated capital markets. These issues included: the strategy of public debt management; the management of central bank reserves; the technical and quantitative aspects of risk management; and credit costs and borrowing capacity in debt organisation. The papers also describe the experience of various countries in managing their own sovereign assets and liabilities. These experiences are drawn from policy makers and private sector participants who have been actively involved in formulating and implementing national debt and reserves policies.

Risk Management For Central Banks And Other Public Investors

Risk Management for Central Banks and Other Public Investors PDF

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Author: Ulrich Bindseil
Publisher: Cambridge University Press
ISBN: 0521518563
Size: 50.16 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 514
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A survey of the fundamental issues and techniques surrounding risk management.

Foreign Exchange Reserves Management

Foreign Exchange Reserves Management PDF

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Author: John Nugée
Publisher:
ISBN: 9781857301564
Size: 64.94 MB
Format: PDF, ePub, Mobi
Category : Foreign exchange administration
Languages : en
Pages : 69
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Guidelines For Foreign Exchange Reserve Management

Guidelines for Foreign Exchange Reserve Management PDF

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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781589062603
Size: 72.44 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 21
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The Guidelines for Foreign Exchange Reserve Management have been developed as part of a broader work program undertaken by the IMF to help strengthen the international financial architecture, to promote policies and practices that contribute to stability and transparency in the financial sector, and to reduce external vulnerabilities of member countries. In developing the Guidelines, IMF staff worked in close collaboration with reserve management entities from a broad group of member countries and international institutions in a comprehensive outreach process. The outreach process included regional meetings in Abu Dhabi, Basel, Gaborone, Mexico City, Singapore, and Washington, DC, to discuss earlier versions of the Guidelines. The practitioners' insight that this process brought to the Guidelines has enabled the enunciation of broadly applicable principles as well as institutional and operational foundations that have relevance for members with a wide range of institutional structures at different stages of development.

Survey Of Reserve Managers

Survey of Reserve Managers PDF

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Author: Aideen Morahan
Publisher: International Monetary Fund
ISBN: 1484389557
Size: 35.39 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 34
View: 6463


This paper reports in detail on a survey that was circulated to reserve managing central banks of IMF member countries in April 2012. The survey aims to gain further insight into how reserve managers have reacted to the crisis to date. The survey also aims to understand how reserve managers arrive at their strategic asset allocation and how they operate their risk management frameworks in practice. Some of the key themes that emerge from the survey include potential procyclical and counter cyclical behavior by reserve managers, increased focus placed on returns and wide variability across countries in how the currency composition of reserves is derived.

International Reserves And Foreign Currency Liquidity

International Reserves and Foreign Currency Liquidity PDF

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Author: International Monetary Fund. Statistics Dept.
Publisher: International Monetary Fund
ISBN: 1498374336
Size: 71.89 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : ar
Pages : 93
View: 3156


This book is an update of the Guidelines published in 2001. It sets forth the underlying framework for the Reserves Data Template, and provides operational advice for its use. The updated version also includes three new appendices aimed at assisting member countries in reporting the required data.

Banks Reserve Management Transaction Costs And The Timing Of Federal Reserve Intervention

Banks  Reserve Management  Transaction Costs  and the Timing of Federal Reserve Intervention PDF

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Author: Leonardo Bartolini
Publisher:
ISBN:
Size: 53.47 MB
Format: PDF, ePub, Mobi
Category : Bank reserves
Languages : en
Pages :
View: 658


"We use daily data on bank reserves and overnight interest rates to document a striking pattern in the high-frequency behavior of the U.S. market for federal funds: depository institutions tend to hold more reserves during the last few days of each "reserve maintenance period," when the opportunity cost of holding reserves is typically highest. We then propose and analyze a model federal funds market where uncertain liquidity flows transaction costs induce banks to delay trading bid up interest rates at end each period. In this context, central bank's interest-rate-smoothing policy causes high supply liquid be associated with around settlement days"--Federal Reserve Bank of New York web site.

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