Collateral and Financial Plumbing 2nd Edition by Manmohan Singh, ISBN-13: 978-1782723172
[PDF eBook eTextbook]
- 194 pages
- Publisher: Risk Books; 2nd edition (January 30, 2018)
- Language: English
- ISBN-10: 178272317X
- ISBN-13: 978-1782723172
Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes– including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement–the role of effective collateral management in monetizing assets has never been more important. Until now, policymakers have tended to ignore the complex collateral plumbing that is fundamental to lending and enabling growth in the economy. Attention is now focused on this important issue. Manmohan Singh leads you through this complex subject highlighting the importance of financial plumbing and provides a practical understanding of how financial collateral moves across jurisdictions. Also, the discussion on restricting collateral velocity and how it links to monetary policy rate cycle is original. Now with two additional chapters covering the breakdown of financial plumbing and monetary policy transmission, this updated edition provides the insight and wisdom delivered in the first edition of this book, along with the latest techniques and know-how needed when monetizing assets. This is an essential guide to navigating the future as rules and regulations for the global financial markets are redrawn. Through a thorough examination of the role collateral plays in the market the reader will gain a deeper understanding of complex and important themes that are likely to remain topical in the near future.
Collateral management in monetising assets has never been more important, policy makers recognising this fact have started to pay increased attention to the complex collateral plumbing that is fundamental to lending and enabling growth in the economy.
Use this book to make sure your collateral management is at its most effective. Discover the importance of financial plumbing, gain a practical understanding of how financial collateral moves across jurisdictions and also how to navigate the future as rules and regulations for the global financial markets are redrawn in this essential second impression.
About the Author
Manmohan Singh is a senior economist at the IMF. He writes extensively on topical issues including collateral and monetary policy, rehypothecation and velocity of collateral, deleveraging in financial markets, shadow banking, and counterparty risk in OTC derivatives. Singh has led the IMF s workshops for official policymakers on strategic asset-allocation issues and the new financial regulatory framework. His articles have frequently appeared in the Financial Times, the Wall Street Journal, Euromoney, Risk, the Journal of Financial Infrastructures and other publications. His work experience covers several countries, including the UK, the US, Chile, India, Japan, Hungary, Poland, the Gulf countries and, more recently, peripheral Europe.
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