Analyzing Alternative Intraday Credit Policies in Real-Time Gross Settlement Systems.: An article from: Journal of Money, Credit & Banking
Book Details
Author(s)Craig H. Furfine, Jeff Stehm
PublisherOhio State University Press
ISBN / ASINB00098ESII
ISBN-13978B00098ESI7
MarketplaceUnited Kingdom 🇬🇧
Description
This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on November 1, 1998. The length of the article is 8498 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: This paper examines a central bank's choice of intraday credit policy for real-time gross settlement (RTGS) systems. Formal analysis of central bank objectives and commercial bank payment activity provides insight into both the choice and effects of several possible intraday credit policies. Observed intraday credit policies are interpreted within the context of the model. Among G-10 central banks, different combinations of prices, collateral, and quantity limits have been chosen to manage the supply of intraday credit. Conditions that rationalize these choices are shown to rely on (a) central bank preferences regarding credit risk and systemic risk, (b) liquidity management technologies, and (c) the cost of collateral. Reprinted by permission of the author.
Citation Details
Title: Analyzing Alternative Intraday Credit Policies in Real-Time Gross Settlement Systems.
Author: Craig H. Furfine
Publication:Journal of Money, Credit & Banking (Refereed)
Date: November 1, 1998
Publisher: Ohio State University Press
Page: 832(1)
Distributed by Thomson Gale
From the supplier: This paper examines a central bank's choice of intraday credit policy for real-time gross settlement (RTGS) systems. Formal analysis of central bank objectives and commercial bank payment activity provides insight into both the choice and effects of several possible intraday credit policies. Observed intraday credit policies are interpreted within the context of the model. Among G-10 central banks, different combinations of prices, collateral, and quantity limits have been chosen to manage the supply of intraday credit. Conditions that rationalize these choices are shown to rely on (a) central bank preferences regarding credit risk and systemic risk, (b) liquidity management technologies, and (c) the cost of collateral. Reprinted by permission of the author.
Citation Details
Title: Analyzing Alternative Intraday Credit Policies in Real-Time Gross Settlement Systems.
Author: Craig H. Furfine
Publication:Journal of Money, Credit & Banking (Refereed)
Date: November 1, 1998
Publisher: Ohio State University Press
Page: 832(1)
Distributed by Thomson Gale
