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The Use of the Eurosystem's Monetary Policy Instruments and Its Monetary Policy Implementation Framework Q2 2016 - Q4 2017
European Central Bank. Task Force on the use of monetary policy instruments
出版European Central Bank, 2018
ISBN92899336829789289933681
URLhttp://books.google.com.hk/books?id=gsw8zQEACAAJ&hl=&source=gbs_api
註釋This paper provides a comprehensive overview of the use of the Eurosystem's monetary policy instruments and the operational framework from the second quarter of 2016 to the last quarter of 2017. It reviews the context of Eurosystem market operations; the design and operation of the Eurosystem's counterparty and collateral frameworks; the fulfilment of minimum reserve requirements; participation in credit operations and recourse to standing facilities; and the conduct of outright asset purchase programmes. The paper also discusses the impact of monetary policy implementation on the Eurosystem's balance sheet, excess liquidity and money market liquidity conditions. [Resumen de autor]