Treasury bills and/or central bank bills for absorbing surplus liquidity : the main considerations /
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| Author / Creator: | Nyawata, Obert, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2012. |
| Description: | 1 online resource (39 pages) : illustrations |
| Language: | English |
| Series: | IMF working paper ; WP/12/40 IMF working paper ; WP/12/40. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12500037 |
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| 100 | 1 | |a Nyawata, Obert, |e author. |0 http://id.loc.gov/authorities/names/no97048594 | |
| 245 | 1 | 0 | |a Treasury bills and/or central bank bills for absorbing surplus liquidity : |b the main considerations / |c Obert Nyawata. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (39 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/12/40 | |
| 500 | |a At head of title: Monetary and Capital Markets Departments. | ||
| 500 | |a Title from PDF title page (IMF Web site, viewed February 7, 2012). | ||
| 500 | |a "January 2012." | ||
| 520 | 3 | |a This paper discusses the challenging question of whether central banks should use treasury bills or central bank bills for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central bank bills, the paper argues that treasury bills are the first best option especially because positive externalities for the financial sector and the rest of the economy. However, the main considerations in the choice should be: (i) operational independence for the central bank; (ii) market development; and (iii) the strengthening of the transmission of monetary policy impulses. | |
| 504 | |a Includes bibliographical references. | ||
| 505 | 0 | |a Cover; Abstract; Contents; Executive Summary; I. Introduction; II. Country Use Of Government Securities and Central Bank Bills; TABLES; 1. Summary Information on Use of Treasury Bills and Central Bank Bills; FIGURES; 1. Monetary Policy Instruments by Level of Development; III. Desirable Features of Securities Used in Liquidity Management; 2. Maturity Profile of Central Bank Bills; IV. Issues to Consider in the Choice Between the Securities; 2. Agents for Money Market Development; V. Conclusions; References; ANNEXES; I. Relative Advantages and Disadvantages of Using Government Securities. | |
| 505 | 8 | |a II. A Representation of the Integrated Budget FrameworkIII. Stylized Structure of Institutional Arrangements; IV. Interrelationships Among the Bond and Money Markets and Monetary Policy. | |
| 650 | 0 | |a Treasury bills |x Econometric models. | |
| 650 | 0 | |a Liquidity (Economics) |x Econometric models. | |
| 650 | 0 | |a Banks and banking, Central |x Econometric models. | |
| 650 | 6 | |a Bons du Trésor |x Modèles économétriques. | |
| 650 | 6 | |a Liquidité (Économie politique) |x Modèles économétriques. | |
| 650 | 6 | |a Banques centrales |x Modèles économétriques. | |
| 650 | 7 | |a Banks and banking, Central |x Econometric models. |2 fast |0 (OCoLC)fst00827041 | |
| 650 | 7 | |a Liquidity (Economics) |x Econometric models. |2 fast |0 (OCoLC)fst00999685 | |
| 650 | 7 | |a Treasury bills |x Econometric models. |2 fast |0 (OCoLC)fst01155861 | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund. |b Monetary and Capital Markets Department, |e issuing body. |0 http://id.loc.gov/authorities/names/no2006113696 | |
| 776 | 0 | 8 | |i Print version: |a Nyawata, Obert. |t Treasury Bills and/or Central Bank Bills for Absorbing Surplus Liquidity: The Main Considerations. |d Washington : International Monetary Fund, ©2012 |z 9781463933838 |
| 830 | 0 | |a IMF working paper ; |v WP/12/40. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2012/040/001.2012.issue-040-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG4936.N93 2012eb |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2012/040/001.2012.issue-040-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12144196 | ||