Money and collateral /

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Bibliographic Details
Author / Creator:	Siṃha, Manamohana.
Imprint:	Washington, D.C. : International Monetary Fund, 2012.
Description:	1 online resource
Language:	English
Series:	IMF working policy ; WP/12/95 IMF working policy ; WP/12/95.
Subject:	Monetary policy. Money. Monetary policy -- Econometric models. Security (Law) -- Econometric models. Securities -- Econometric models. Liquidity (Economics) -- Econometric models. Financial crises -- Econometric models. Money. Monetary policy. Financial crises -- Econometric models. Liquidity (Economics) -- Econometric models. Monetary policy -- Econometric models. Securities -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12508633

Hidden Bibliographic Details
Other authors / contributors:	Stella, Peter.
ISBN:	9781475573954 1475573952 9781475502855
Digital file characteristics:	data file
Notes:	At head of title: Research Department. Title from PDF title page (IMF Web site, viewed May 15, 2012). "April 2012." Includes bibliographical references.
Summary:	Between 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.

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