[PDF][PDF] Central bank response to the 2007-08 financial market turbulence: experiences and lessons drawn
A Chailloux, S Gray, U Kluh, S Schimizu, P Stella - 2008 - elischolar.library.yale.edu
The paper reviews the policy response of major central banks during the 2007–08 financial
market turbulence and suggests that there is scope for convergence among central bank
operational frameworks through the adoption of those elements that proved most
instrumental in calming markets. These include (i) rapid liquidity provision to a broad range
of counterparties;(ii) a congruence of collateral policies with market developments;(iii) an
ability to increase the average maturity of liquidity provision; and (iv) central bank …
market turbulence and suggests that there is scope for convergence among central bank
operational frameworks through the adoption of those elements that proved most
instrumental in calming markets. These include (i) rapid liquidity provision to a broad range
of counterparties;(ii) a congruence of collateral policies with market developments;(iii) an
ability to increase the average maturity of liquidity provision; and (iv) central bank …
Central Bank Response to the 2007-08 Financial Market Turbulence: Experiences and Lessons Drawn
S Gray, UH Klueh, S Shimizu, P Stella, A Chailloux - 2008 - papers.ssrn.com
The paper reviews the policy response of major central banks during the 2007-08 financial
market turbulence and suggests that there is scope for convergence among central bank
operational frameworks through the adoption of those elements that proved most
instrumental in calming markets. These include (i) rapid liquidity provision to a broad range
of counterparties;(ii) a congruence of collateral policies with market developments;(iii) an
ability to increase the average maturity of liquidity provision; and (iv) central bank …
market turbulence and suggests that there is scope for convergence among central bank
operational frameworks through the adoption of those elements that proved most
instrumental in calming markets. These include (i) rapid liquidity provision to a broad range
of counterparties;(ii) a congruence of collateral policies with market developments;(iii) an
ability to increase the average maturity of liquidity provision; and (iv) central bank …
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