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Collateral Markets and Financial Plumbing (3rd Edition)
Discipline: Investing, Derivatives & Options
First published:
Monetising assets and collateral management has never been more important.
Policy-makers are recognising this, and paying increased attention to complex market plumbing, which is essential to grasp in order to better understand monetary policy, leverage as well as the shadow-banking world.
Fully revised and completely updated Collateral Markets and Financial Plumbing, written by a global expert in collateral and financial markets infrastructure, Manmohan Singh, is now in its third edition. This bestselling book expands on the present thinking, shedding new light on the basic legal underpinnings of financial collateral, its sources and the key players in the markets. Singh also examines how the size of this market is relevant from a macroeconomic and monetary perspective.
Contents
Foreword
Introduction
Collateral in Financial Plumbing
Collateral Velocity
Leverage in the Financial System
Quantitative Easing and the IS/LM Framework
Money, Collateral and Safe Assets
“Reverse” Monetary Policy Transmission
Central Bank Balance Sheet Policies and Emerging Markets
The Collateral Custodians
The Changing Collateral Space
Collateral in the OTC Derivatives Market
CCP Resolution Remains Unresolved
The Sovereign–Bank Nexus via OTC Derivatives
Privacy Provision, Payment Latency and the Role of Collateral
Conclusion
Annex: Chapter 2
Annex: Chapter 7