The economics of large-value payments and settlement: theory and policy issues for central banks
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Oxford [u.a.]
Oxford Univ. Press
2009
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Literaturverz. S. 205 - 217 |
| Beschreibung: | XIX, 222 S. graph. Darst. |
| ISBN: | 9780199571116 |
Internformat
MARC
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| 245 | 1 | 0 | |a The economics of large-value payments and settlement |b theory and policy issues for central banks |c ed. by Mark Manning ... |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Oxford [u.a.] |b Oxford Univ. Press |c 2009 | |
| 300 | |a XIX, 222 S. |b graph. Darst. | ||
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| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Literaturverz. S. 205 - 217 | ||
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| 650 | 4 | |a Payment | |
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| 650 | 7 | |a Risiko |2 stw | |
| 650 | 7 | |a Theorie |2 stw | |
| 650 | 7 | |a Welt |2 stw | |
| 650 | 7 | |a Zahlungsverkehr |2 stw | |
| 650 | 7 | |a Zentralbank |2 stw | |
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
List of Figures
xii
List of Tables
xiv
List of Boxes
xv
List of Contributors
xvii
introduction
1
1
Money, banking and payments: historical evolution
and the role of the central bank
2
2
Sources of systemic risk in payments and settlement
5
3
Governance and regulation of payment
and settlement systems
9
4
Future policy challenges for central banks
11
Part I: Money, banking and payments: historical evolution
and the role of the central bank
15
1
The foundations of money and payments
Î
7
1.1
The origins of money and payments
17
1.2
The emergence of banks, including the early central banks
22
2
Payments and monetary and financial stability
30
2.1
Central-bank money as the ultimate settlement asset
31
2.2
Payments and monetary stability
32
2.3
Payments and financial stability
34
2.4
The value of payment systems to the real economy
36
2.5
The broadening and deepening of financial market
infrastructure and implications for central banks
financial stability objectives
41
ix
Contents
Part II: Sources
of systemic risk in payment and
settlement systems
47
3
System design and sources of credit risk in large-value
payment and settlement systems
51
3.1
Deferred net settlement in large-value payment systems
51
3.2
Managing credit risk in DNS systems
58
3.3
Real-time gross settlement in large-value payment systems
62
3.4
The choice of settlement model: drivers of the widespread
adoption of RTGS in large-value payment systems
64
4
Liquidity risk in large-value payment systems
68
4.1
Liquidity and the incentive to delay payments
69
4.2
Central banks provision of liquidity in payment
systems: the theory
79
4.3
Central banks intraday credit policies in practice
84
4.4
Reducing the opportunity cost of collateralized
¡ntraday credit
88
4.5
Mechanisms to promote efficient recycling of liquidity
90
4.6
Hybrid payment-system design
91
4.7
Optimal channelling of payments
98
5
Managing systemic risk in the clearance and settlement of
foreign-exchange, securities and derivatives transactions
102
5.1
Foreign-exchange settlement risk
103
5.2
Settlement risk in securities settlement systems
108
5.3
Management of replacement risk in clearinghouses
113
6
Other sources of systemic risk: operational and business risk
122
6.1
Operational risk
122
6.2
Business risk
134
Part III: Public-policy intervention in payment and
settlement systems
137
7
Market failures in payment and settlement systems
139
7.1
Market failures: implications for systemic risk
139
7.2
Market failures: implications for efficiency
141
8
Ownership, governance and regulation of payment systems
143
8.1
Public ownership and subsidization of payment systems
144
8.2
Targeted intervention ( oversight )
147
Contents
8.3 Mutual
ownership and integration of external stakeholders
149
8.4
Which authority should intervene?
155
9
Central-bank oversight of payment and settlement systems
in practice
158
9.1
Oversight objectives
158
9.2
Implementation of oversight
161
Part IV: Future policy challenges for central banks
167
10
Banks providing infrastructure services
169
10.1
The provision of wholesale payments services
170
10.2
Risks in tiered structures
178
10.3
Other firms providing payment and settlement
infrastructure
184
11
The evolving infrastructure landscape and challenges
for central banks
187
11.1
Forces for change in the infrastructure landscape
187
11.2
Implications for financial stability and central bank
oversight
196
11.3
Implications for the implementation of monetary policy
199
11.4
Directions for future research in large-value payment
systems
201
Glossary
204
References
205
Index
219
xi
|
| any_adam_object | 1 |
| building | Verbundindex |
| bvnumber | BV035754262 |
| callnumber-first | H - Social Science |
| callnumber-label | HG1811 |
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| callnumber-subject | HG - Finance |
| classification_rvk | QK 900 QK 920 |
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| dewey-ones | 332 - Financial economics |
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| dewey-search | 332.11 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| id | DE-604.BV035754262 |
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| indexdate | 2024-07-09T22:03:44Z |
| institution | BVB |
| isbn | 9780199571116 |
| language | English |
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| spelling | The economics of large-value payments and settlement theory and policy issues for central banks ed. by Mark Manning ... 1. publ. Oxford [u.a.] Oxford Univ. Press 2009 XIX, 222 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Literaturverz. S. 205 - 217 Banks and banking, Central Payment Bank stw Bankensystem stw Geldpolitik stw Risiko stw Theorie stw Welt stw Zahlungsverkehr stw Zentralbank stw Clearing (DE-588)4148069-7 gnd rswk-swf Risikomanagement (DE-588)4121590-4 gnd rswk-swf Regulierung (DE-588)4201190-5 gnd rswk-swf Notenbankpolitik (DE-588)4130528-0 gnd rswk-swf Notenbank (DE-588)4042669-5 gnd rswk-swf Kreditwesen (DE-588)4032950-1 gnd rswk-swf Zahlungsverkehr (DE-588)4067287-6 gnd rswk-swf Notenbank (DE-588)4042669-5 s Zahlungsverkehr (DE-588)4067287-6 s Regulierung (DE-588)4201190-5 s DE-604 Kreditwesen (DE-588)4032950-1 s Clearing (DE-588)4148069-7 s Notenbankpolitik (DE-588)4130528-0 s Risikomanagement (DE-588)4121590-4 s DE-188 Manning, Mark Sonstige oth Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018614258&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | The economics of large-value payments and settlement theory and policy issues for central banks Banks and banking, Central Payment Bank stw Bankensystem stw Geldpolitik stw Risiko stw Theorie stw Welt stw Zahlungsverkehr stw Zentralbank stw Clearing (DE-588)4148069-7 gnd Risikomanagement (DE-588)4121590-4 gnd Regulierung (DE-588)4201190-5 gnd Notenbankpolitik (DE-588)4130528-0 gnd Notenbank (DE-588)4042669-5 gnd Kreditwesen (DE-588)4032950-1 gnd Zahlungsverkehr (DE-588)4067287-6 gnd |
| subject_GND | (DE-588)4148069-7 (DE-588)4121590-4 (DE-588)4201190-5 (DE-588)4130528-0 (DE-588)4042669-5 (DE-588)4032950-1 (DE-588)4067287-6 |
| title | The economics of large-value payments and settlement theory and policy issues for central banks |
| title_auth | The economics of large-value payments and settlement theory and policy issues for central banks |
| title_exact_search | The economics of large-value payments and settlement theory and policy issues for central banks |
| title_full | The economics of large-value payments and settlement theory and policy issues for central banks ed. by Mark Manning ... |
| title_fullStr | The economics of large-value payments and settlement theory and policy issues for central banks ed. by Mark Manning ... |
| title_full_unstemmed | The economics of large-value payments and settlement theory and policy issues for central banks ed. by Mark Manning ... |
| title_short | The economics of large-value payments and settlement |
| title_sort | the economics of large value payments and settlement theory and policy issues for central banks |
| title_sub | theory and policy issues for central banks |
| topic | Banks and banking, Central Payment Bank stw Bankensystem stw Geldpolitik stw Risiko stw Theorie stw Welt stw Zahlungsverkehr stw Zentralbank stw Clearing (DE-588)4148069-7 gnd Risikomanagement (DE-588)4121590-4 gnd Regulierung (DE-588)4201190-5 gnd Notenbankpolitik (DE-588)4130528-0 gnd Notenbank (DE-588)4042669-5 gnd Kreditwesen (DE-588)4032950-1 gnd Zahlungsverkehr (DE-588)4067287-6 gnd |
| topic_facet | Banks and banking, Central Payment Bank Bankensystem Geldpolitik Risiko Theorie Welt Zahlungsverkehr Zentralbank Clearing Risikomanagement Regulierung Notenbankpolitik Notenbank Kreditwesen |
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