The Eurosystem Approach to Monetary Policy and Liquidity Management
Leyli Allanazarova
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Leyli Allanazarova, The Eurosystem Approach to Monetary Policy and Liquidity Management (2010), Logos Verlag, Berlin, ISBN: 9783832597368
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Beschreibung / Abstract
The Eurosystem Approach to Monetary Policy and Liquidity Management is related to the banking system, liquidity management, and the efficiency of monetary policy implementation necessary for the monetary and financial stability. Starting from the financial analysis of the current situation in the Eurosystem the effects of the financial crises on liquidity volume are examined. The future perspectives of the Eurosystem's liquidity management are evaluated and its method of monetary policy implementation is compared with the one of the Federal Reserve System. The focus of the work is liquidity management, which is conducted for the sake of permanent provision of liquidity in the interbank market (or money market) that gives the opportunities to more counterparties to receive the appropriate amount of credits. The efficient liquidity management can stimulate the business, and promote economic development. Therefore, the study of liquidity-changing composition and its influences on the overall monetary policy is essential, especially nowadays, when the need to improve the financial systems after the crises has risen.
Inhaltsverzeichnis
- BEGINN
- 1. INTRODUCTION
- 2. THE EUROSYSTEM†™S MONETARY FRAMEWORK
- 2.1. An Overview of European Monetary Integration
- 2.2. The European System of Central Banks (ESCB)
- 3. CONDUCTING MONETARY POLICY
- 3.1. Elements of Monetary Policy Implementation
- 3.2. Monetary Policy Instruments
- 3.3. Types of Open Market Procedures
- 3.4. Eligibility Aspects
- 3.5. Importance of Liquidity Management
- 4. LIQUIDITY-PROVIDING AND –ABSORBING OPERATIONS: RECENT-TIME INVESTIGATION (DATA OF 2010)
- 4.1. Types and Effects of Open Market Instruments
- 4.2. Categories of Open Market Operations within the Approach of Reverse Transactions
- 4.3. Use of Standing Facilities
- 5. MEASURING LIQUIDITY MANAGEMENT
- 5.1. Autonomous Liquidity Factors
- 5.2. Current Account Holdings of Counterparties
- 5.3. Balance Sheet of Eurosystem
- 5.4. Efficiency of the Liquidity Management
- 6. CONCLUSION