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Author : Douglas Warren Diamond
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4./5 ( download)
Download or read book Liquidity, Banks, and Markets written by Douglas Warren Diamond and published by World Bank Publications. This book was released on 1996 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : W. Douglas Diamond
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.39/5 ( download)
Download or read book Liquidity, Banks, and Markets: Effects of Financial Development on Banks and the Maturity of Financial Claims written by W. Douglas Diamond and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: January 1996 The amount of liquidity that banks offer depends on the degree of direct participation in financial markets -- that is, on the liquidity of financial markets. Conversely, banks influence the amount of liquidity offered by financial markets. Financial markets and financial institutions compete to provide investors with liquidity. Diamond examines the roles of banks and markets when both are active, characterizing how development of the financial markets affects the structure of and market share of banks. Banks create liquidity by offering claims with a higher short-term return than exist without a banking system. The amount of liquidity that banks offer depends on the degree of direct participation in financial markets -- that is, on the liquidity of financial markets. Conversely, banks influence the amount of liquidity offered by financial markets. As more investors participate in financial markets, allowing markets to provide more liquidity, banks shrink and banks make fewer long-term loans. Moreover, the banking sector's ability to subsidize those with immediate liquidity need is reduced. More liquid markets also lead to physical investment with longer maturity, a smaller gap between the maturity of financial assets and the maturity of physical investments. Financial assets have a shorter maturity than physical investments, but this gap approaches zero as the market approaches full liquidity. Diamond provides an analytical basis for developing short-term markets as a way to stimulate the supply of long-term finance and supports the practitioner's view that short-term financial markets are a prerequisite for the development of viable long-term finance. This paper -- a product of the Finance and Private Sector Development Division, Policy Research Department -- is part of a larger effort in the department to investigate the role of long term finance in the development process.
Author : Rudolf Duttweiler
Publisher : John Wiley & Sons
ISBN 13 : 1119991099
Total Pages : 319 pages
Book Rating : 4.90/5 ( download)
Download or read book Managing Liquidity in Banks written by Rudolf Duttweiler and published by John Wiley & Sons. This book was released on 2011-11-09 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Liquidity risk is a topic growing immensely in importance in risk management. It has been much neglected by financial institutions and regulators in recent years and receives, in the course of the sub-prime crisis, sudden and great attention. This book is well-structured and provides a comprehensive and systematic approach to the topic. It will help risk controllers to systematically set up a liquidity risk framework in their bank." —Peter NEU, European Risk Team Leader, The Boston Consulting Group, and co author of Liquidity Risk Measurement and Management "Mr Duttweiler's book is a welcome addition to the literature on liquidity risk measurement and management. In addition to his contributions to liquidity risk theory and liquidity pricing, the author provides a good overview of all of the critical elements." —Leonard Matz, International Solution Manager, Liquidity Risk and co-author of Liquidity Risk Measurement and Management Liquidity Risk Management has gained importance over recent years and particularly in the last year, as major bank failures have led to a re-evaluation of the significance of liquidity in stressed market conditions. Liquidity risk is closely related to market risk and solvency, suggesting its significance in times of volatile and 'bear' markets, where a single bank's failure can have dramatic effects on market liquidity. The term liquidity is not well-define, and a comprehensive understanding of its common elements is often missing within a banking organisation. In too many cases, liquidity risk management has not been developed with a coherent framework and generally accepted terms and methods, creating weaknesses in its structure and vulnerability to market risk. In this title, Duttweiler advances the study of quantitative liquidity risk management with the concept of the 'Liquidity Balance Sheet', which allocates portfolios into a specific structure, and consequently is able to account for potentially negative surprises so that the necessary buffers can be quantified. The book begins with an overview of liquidity as part of financial policy and highlights the importance of liquidity as part of a general business concept and as protector and supporter of a business as a going concern. The author examines the role o liquidity in helping managers to achieve high-level liquidity aims to support operating units to achieve business goals. He looks at quantitative methods of assessing a banks liquidity levels, including LaR and VaR, to establish an integrated concept in which liquidity is incorporated into the framework of financial policies. He also presents methods, tools, scenarios and concepts to create a policy framework for liquidity and to support contingency planning.
Author : Franklin Allen
Publisher : OUP USA
ISBN 13 : 0195390709
Total Pages : 718 pages
Book Rating : 4.04/5 ( download)
Download or read book Liquidity and Crises written by Franklin Allen and published by OUP USA. This book was released on 2011-01-13 with total page 718 pages. Available in PDF, EPUB and Kindle. Book excerpt: One important cause of the 2007-2009 crisis was illiquidity combined with exposure of many financial institutions to liquidity needs. But what is liquidity and why is it so important for financial institutions to command enough liquidity? This book brings together classic articles and recent contributions to this important field.
Author : Douglas W. Diamond
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.47/5 ( download)
Download or read book Liquidity, Banks, and Markets written by Douglas W. Diamond and published by . This book was released on 2016 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The amount of liquidity that banks offer depends on the degree of direct participation in financial markets - that is, on the liquidity of financial markets. Conversely, banks influence the amount of liquidity offered by financial markets.Financial markets and financial institutions compete to provide investors with liquidity. Diamond examines the roles of banks and markets when both are active, characterizing how development of the financial markets affects the structure of and market share of banks.Banks create liquidity by offering claims with a higher short-term return than exist without a banking system. The amount of liquidity that banks offer depends on the degree of direct participation in financial markets - that is, on the liquidity of financial markets. Conversely, banks influence the amount of liquidity offered by financial markets.As more investors participate in financial markets, allowing markets to provide more liquidity, banks shrink and banks make fewer long-term loans. Moreover, the banking sector's ability to subsidize those with immediate liquidity need is reduced.More liquid markets also lead to physical investment with longer maturity, a smaller gap between the maturity of financial assets and the maturity of physical investments. Financial assets have a shorter maturity than physical investments, but this gap approaches zero as the market approaches full liquidity.Diamond provides an analytical basis for developing short-term markets as a way to stimulate the supply of long-term finance and supports the practitioner`s view that short-term financial markets are a prerequisite for the development of viable long-term finance.This paper - a product of the Finance and Private Sector Development Division, Policy Research Department - is part of a larger effort in the department to investigate the role of long term finance in the development process.
Author : Allen N. Berger
Publisher : Academic Press
ISBN 13 : 0128005319
Total Pages : 296 pages
Book Rating : 4.16/5 ( download)
Download or read book Bank Liquidity Creation and Financial Crises written by Allen N. Berger and published by Academic Press. This book was released on 2015-11-24 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bank Liquidity Creation and Financial Crises delivers a consistent, logical presentation of bank liquidity creation and addresses questions of research and policy interest that can be easily understood by readers with no advanced or specialized industry knowledge. Authors Allen Berger and Christa Bouwman examine ways to measure bank liquidity creation, how much liquidity banks create in different countries, the effects of monetary policy (including interest rate policy, lender of last resort, and quantitative easing), the effects of capital, the effects of regulatory interventions, the effects of bailouts, and much more. They also analyze bank liquidity creation in the US over the past three decades during both normal times and financial crises. Narrowing the gap between the "academic world" (focused on theories) and the "practitioner world" (dedicated to solving real-world problems), this book is a helpful new tool for evaluating a bank’s performance over time and comparing it to its peer group. Explains that bank liquidity creation is a more comprehensive measure of a bank’s output than traditional measures and can also be used to measure bank liquidity Describes how high levels of bank liquidity creation may cause or predict future financial crises Addresses questions of research and policy interest related to bank liquidity creation around the world and provides links to websites with data and other materials to address these questions Includes such hot-button topics as the effects of monetary policy (including interest rate policy, lender of last resort, and quantitative easing), the effects of capital, the effects of regulatory interventions, and the effects of bailouts
Author : Yakov Amihud
Publisher : Cambridge University Press
ISBN 13 : 0521191769
Total Pages : 293 pages
Book Rating : 4.60/5 ( download)
Download or read book Market Liquidity written by Yakov Amihud and published by Cambridge University Press. This book was released on 2013 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices.
Author : Deniz Ozenbas
Publisher : Springer Nature
ISBN 13 : 3030748170
Total Pages : 111 pages
Book Rating : 4.73/5 ( download)
Download or read book Liquidity, Markets and Trading in Action written by Deniz Ozenbas and published by Springer Nature. This book was released on 2022 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book addresses four standard business school subjects: microeconomics, macroeconomics, finance and information systems as they relate to trading, liquidity, and market structure. It provides a detailed examination of the impact of trading costs and other impediments of trading that the authors call rictions It also presents an interactive simulation model of equity market trading, TraderEx, that enables students to implement trading decisions in different market scenarios and structures. Addressing these topics shines a bright light on how a real-world financial market operates, and the simulation provides students with an experiential learning opportunity that is informative and fun. Each of the chapters is designed so that it can be used as a stand-alone module in an existing economics, finance, or information science course. Instructor resources such as discussion questions, Powerpoint slides and TraderEx exercises are available online.
Author : Darrell Duffie
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110673126
Total Pages : 152 pages
Book Rating : 4.28/5 ( download)
Download or read book Fragmenting Markets written by Darrell Duffie and published by Walter de Gruyter GmbH & Co KG. This book was released on 2022-11-07 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Post-crisis capital regulations and new failure-resolution rules increased the funding costs that are borne by bank shareholders, and thus the cost to buy-side firms for access to space on the balance sheets of large banks. A policy implication is the encouragement of market infrastructure and trading methods that reduce the amount of space on bank balance sheets that is needed to conduct a given amount of trade. Using models and evidence, this book addresses the implications for financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for potential levels of market efficiency and financial stability. In this insightful analysis of the impact of regulation on financial market efficiency post-2008, the author argues that bank capital levels could actually be pushed higher while still improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule and increasing risk-based capital requirements.
Author : Roberto Ruozi
Publisher : Springer Science & Business Media
ISBN 13 : 3642295800
Total Pages : 59 pages
Book Rating : 4.05/5 ( download)
Download or read book Liquidity Risk Management in Banks written by Roberto Ruozi and published by Springer Science & Business Media. This book was released on 2012-09-21 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent turmoil on financial markets has made evident the importance of efficient liquidity risk management for the stability of banks. The measurement and management of liquidity risk must take into account economic factors such as the impact area, the timeframe of the analysis, the origin and the economic scenario in which the risk becomes manifest. Basel III, among other things, has introduced harmonized international minimum requirements and has developed global liquidity standards and supervisory monitoring procedures. The short book analyses the economic impact of the new regulation on profitability, on assets composition and business mix, on liabilities structure and replacement effects on banking and financial products.
