登入選單
返回Google圖書搜尋
Emerging Market Securities Access to Global Plumbing
Gongpil ChoiFederico OrtegaMr. Manmohan Singh
出版International Monetary Fund, 2021-03-26
主題Business & Economics / Accounting / FinancialBusiness & Economics / Finance / GeneralBusiness & Economics / Investments & Securities / GeneralBusiness & Economics / Economics / MacroeconomicsBusiness & Economics / Economics / GeneralBusiness & Economics / International / Economics & TradeBusiness & Economics / Industries / Financial Services
ISBN15135741679781513574165
URLhttp://books.google.com.hk/books?id=aPI_EAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability enhances financial stability and reduces dollar funding risk. We also explain the Eurozone collateral pool to incentivize EMs, and why many securities (e.g., BTPs, Italy) are acceptable in London but not EM securities. Looking forward, EMs liaison with International Central Securities Depositories (ICSDs), and global banks’ balance sheet capacity to intermediate cross-border collateral will be crucial for this market to develop.