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  • Stabi Berlin  (38)
  • SRB Frankfurt/Oder
  • SB Luckenwalde
  • SB Zehdenick
  • SB Lübben
  • SB Prenzlau
  • Kreis- und Fahrbibliothek Lübben
  • SB Elsterwerda
  • GB Eggersdorf
  • Singh, Manmohan  (38)
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Region
Bibliothek
Erscheinungszeitraum
Fachgebiete(RVK)
  • 1
    Buch
    Buch
    New York, NY : Carnegie Endowment for International Peace
    UID:
    b3kat_BV013262090
    Umfang: 83 S.
    Serie: International conciliation 576
    Sprache: Englisch
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 2
    UID:
    gbv_1847140114
    Umfang: 219 pages , illustrations (chiefly color) , 25 x 30 cm
    Inhalt: Travelogue, covering South Asia
    Sprache: Englisch
    Schlagwort(e): Südasien ; Gesellschaft ; Entwicklung ; Indien ; Biografie
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 3
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845955667
    Umfang: Online-Ressource (16 p)
    Ausgabe: Online-Ausg.
    ISBN: 1498322425 , 9781498322423
    Serie: IMF Working Papers Working Paper No. 14/203
    Inhalt: Nonbanks such as central counterparties (CCPs) are a useful lens to see how regulators view the role of the lender-of-last-resort (LOLR). This paper explores the avenues available when a nonbank failure is likely, specifically by considering the options of keeping CCPs afloat. It is argued that CCPs have, by regulatory fiat, become “too important to fail,” and thus the imperative should be greater loss-sharing by all participants that better align the distribution of risks and rewards of CCPs, the clearing members and derivative end-users. In the context of LOLR, the proposed variation margin gains haircut (VMGH) is discussed as a way of limiting the taxpayer put
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 4
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845880063
    Umfang: Online-Ressource (22 p)
    Ausgabe: Online-Ausg.
    ISBN: 1455228044 , 9781455228041
    Serie: IMF Working Papers Working Paper No. 11/66
    Inhalt: Recent regulatory efforts, especially in the U.S. and Europe, are aimed at reducing moral hazard so that the next financial crisis is not bailed out by tax payers. This paper looks at the possibility that central counterparties (CCPs) may be too-big-to-fail entities in the making. The present regulatory and reform efforts may not remove the systemic risk from OTC derivatives but rather shift them from banks to CCPs. Under the present regulatory overhaul, the OTC derivative market could become more fragmented. Furthermore, another taxpayer bailout cannot be ruled out. A reexamination of the two key issues of (i) the interoperability of CCPs, and (ii) the cost of moving to CCPs with access to central bank funding, indicates that the proposed changes may not provide the best solution. The paper suggests that a tax on derivative liabilities could make the OTC derivatives market safer, particularly in the transition to a stable clearing infrastructure. It also suggests reconsideration of a ""public utility"" model for the OTC market infrastructure
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 5
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845885146
    Umfang: Online-Ressource (19 p)
    Ausgabe: Online-Ausg.
    ISBN: 1451871163 , 9781451871166
    Serie: IMF Working Papers Working Paper No. 08/258
    Inhalt: The financial market turmoil of recent months has highlighted the importance of counterparty risk. Here, we discuss counterparty risk that may stem from the OTC derivatives markets and attempt to assess the scope of potential cascade effects. This risk is measured by losses to the financial system that may result via the OTC derivative contracts from the default of one or more banks or primary broker-dealers. We then stress the importance of ""netting"" within the OTC derivative contracts. Our methodology shows that, even using data from before the worsening of the crisis in late Summer 2008, the potential cascade effects could be very substantial. We summarize our results in the context of the stability of the banking system and provide some policy measures that could be usefully considered by the regulators in their discussions of current issues
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 6
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845823795
    Umfang: Online-Ressource (22 p)
    Ausgabe: Online-Ausg.
    ISBN: 1475505272 , 9781475505276
    Serie: IMF Working Papers Working Paper No. 12/179
    Inhalt: Deleveraging has two components--shrinking of balance sheets due to increased haircuts/shedding of assets, and the reduction in the interconnectedness of the financial system. We focus on the second aspect and show that post-Lehman there has been a significant decline in the interconnectedness in the pledged collateral market between banks and nonbanks. We find that both the collateral and its associated velocity are not rebounding as of end-2011 and still about $4-5 trillion lower than the peak of $10 trillion as of end-2007. This paper updates Singh (2011) and we use this data to compare with the monetary aggregates (largely due to QE efforts in US, Euro area and UK), and discuss the overall financial lubrication that likely impacts the conduct of global monetary policy
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 7
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845824171
    Umfang: Online-Ressource (21 p)
    Ausgabe: Online-Ausg.
    ISBN: 147551056X , 9781475510560
    Serie: IMF Working Papers Working Paper No. 12/229
    Inhalt: In the aftermath of the Lehman crisis, payouts (i.e., taxpayer bailouts) in various forms were provided by governments to a variety of financial institutions and markets that were outside the regulatory perimeter - the ?""shadow"" banking system. Although recent regulatory proposals attempt to reduce these ?""puts"", we provide examples from non-banking activities within a bank, money market funds, Triparty repo, OTC derivatives market, collateral with central banks, and issuance of floating rate notes etc., that these risks remain. We suggest that a regulatory environment where puts are not ambiguous will likely lower the cost of bail-outs after a crisis
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 8
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845838431
    Umfang: Online-Ressource (19 p)
    Ausgabe: Online-Ausg.
    ISBN: 1463927231 , 9781463927233
    Serie: IMF Working Papers Working Paper No. 11/289
    Inhalt: The present way of thinking about financial intermediation does not fully incorporate the rise of asset managers as a major source of funding for banks through the shadow banking system. Asset managers are dominant sources of demand for non-M2 types of money and serve as source collateral ?mines'' for the shadow banking system. Banks receive funding through the re-use of pledged collateral ?mined'' from asset managers. Accounting for this, the size of the shadow banking system in the U.S. may be up to $25 trillion at year-end 2007 and $18 trillion at year-end 2010, higher than earlier estimates. In terms of policy, regulators will need to consider the re-use of pledged collateral when defining bank leverage ratios. Also, given asset managers'' demand for non-M2 types of money, monitoring the shadow banking system will warrant closer attention well beyond the regulatory perimeter
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 9
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845879839
    Umfang: Online-Ressource (13 p)
    Ausgabe: Online-Ausg.
    ISBN: 1451868545 , 9781451868548
    Serie: IMF Working Papers Working Paper No. 07/291
    Inhalt: This paper focuses on the use of participatory notes (PNs) by foreign investors, as a conduit for portfolio flows into Indian equity markets for more than a decade. The broadening of India''s foreign investor base, in recent years, has a bias towards hedge funds/unregistered foreign investors who invest primarily via PNs. While tax arbitrage via capital gains tax has almost disappeared since July 2004, it is intriguing to note that since then the demand for PNs has actually increased. The paper suggests some reasons for the continuation of a buoyant market in PNs, and explains the possible impact from the recent regulatory changes
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 10
    Online-Ressource
    Online-Ressource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845870092
    Umfang: Online-Ressource (23 p)
    Ausgabe: Online-Ausg.
    ISBN: 1451865147 , 9781451865141
    Serie: IMF Working Papers Working Paper No. 06/254
    Inhalt: Credit default swaps (CDS) provide the buyer with insurance against certain types of credit events by entitling him to exchange any of the bonds permitted as deliverable against their par value. Unlike bonds, whose risk spreads are assumed to be the product of default risk and loss rate, CDS are par instruments, and their spreads reflect the partial recovery of the delivered bond''s face value. This paper addresses the implications of the difference between bond and CDS spreads and shows the extent to which the recovery assumption matters for determining CDS spreads. A no-arbitrage argument is applied to extract recovery rates from CDS and bond markets, using data from Brazil''s distress in 2002-03. Results are related to the observation that preemptive restructurings are now more common than straight defaults in sovereign bond markets and that this leads to a decoupling of CDS and bond spreads
    Sprache: Englisch
    URL: Volltext  (IMF e-Library)
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