The Changing Collateral Space

January 28, 2013

Preview Citation

Format: Chicago

Manmohan Singh. The Changing Collateral Space, (USA: International Monetary Fund, 2013) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper highlights the changing collateral landscape and how it may shape the global demand/supply for collateral. We first identify the key collateral pools (relative to the “old” collateral space) and associated collateral velocities. Post-Lehman and continuing into the European crisis, some aspects of unconventional monetary policies pursued by central banks are significantly altering the collateral space. Moreover, regulatory demands stemming from Basel III, Dodd Frank, EMIR etc., new net debt issuance, and collateral connectivity via custodians (e.g., Euroclear/ Clearstream/ BoNY etc) will affect collateral movements.

Subject: Banking, Collateral, Financial institutions, Financial statements, Public financial management (PFM), Securities

Keywords: Bank, CCPs, Central bank, Central banks and QE, Collateral, Collateral space, CSDs, Custodians, Desire collateral, Financial statements, Global, LCR, Market, Market contact, Pledged collateral market, Re-use rate, Securities, Transformation route, Velocity/re-use of collateral, WP

Publication Details

Pages:

19
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2013/025
Stock No:

WPIEA2013025
ISBN:

9781475542356
ISSN:

1018-5941

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