Local Currency Collateral for Cross-Border Financial Transactions

Local Currency Collateral for Cross-Border Financial Transactions PDF

Author: Asian Development Bank

Publisher: Asian Development Bank

Published: 2022-09-01

Total Pages: 114

ISBN-13: 9292697145

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Active use of local currency-denominated bonds for cross-border collateral transactions could help the development of regional bond markets by mitigating risks, reducing the credit costs of financial institutions, and expanding market liquidity. This report identifies the challenges faced by regional collateral markets and proposes seven policy recommendations for promoting the cross-border use of local currency bonds as collateral in the Association of Southeast Asian Nations plus the People’s Republic of China, Japan, and the Republic of Korea—known collectively as ASEAN+3.

International Reserves and Foreign Currency Liquidity

International Reserves and Foreign Currency Liquidity PDF

Author: International Monetary Fund. Statistics Dept.

Publisher: International Monetary Fund

Published: 2015-01-07

Total Pages: 258

ISBN-13: 1484350162

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This update of the guidelines published in 2001 sets forth the underlying framework for the Reserves Data Template and provides operational advice for its use. The updated version also includes three new appendices aimed at assisting member countries in reporting the required data.

Cross-Border Financial Surveillance

Cross-Border Financial Surveillance PDF

Author: Marco A Espinosa-Vega

Publisher: International Monetary Fund

Published: 2010-04-01

Total Pages: 29

ISBN-13: 1455200646

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Effective cross-border financial surveillance requires the monitoring of direct and indirect systemic linkages. This paper illustrates how network analysis could make a significant contribution in this regard by simulating different credit and funding shocks to the banking systems of a number of selected countries. After that, we show that the inclusion of risk transfers could modify the risk profile of entire financial systems, and thus an enriched simulation algorithm able to account for risk transfers is proposed. Finally, we discuss how some of the limitations of our simulations are a reflection of existing information and data gaps, and thus view these shortcomings as a call to improve the collection and analysis of data on cross-border financial exposures.

The Asian Bond Markets Initiative

The Asian Bond Markets Initiative PDF

Author: Asian Development Bank

Publisher: Asian Development Bank

Published: 2017-06-01

Total Pages: 69

ISBN-13: 9292578448

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The Asian Bond Markets Initiative (ABMI) was launched in December 2002 by the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3 to strengthen financial stability and reduce the region’s vulnerability to the sudden reversal of capital flows. This paper also provides recommendations for addressing new sources of market volatility and other challenges within and outside the framework of the Asian Bond Markets Initiative.

Cross-Border Bank Resolution - Recent Developments

Cross-Border Bank Resolution - Recent Developments PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2014-02-06

Total Pages: 41

ISBN-13: 1498343287

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Developing an effective framework for cross-border resolution is a key priority in international regulatory reform. Large bank failures during the global financial crisis brought home the lack of adequate tools for resolving “too-big-to-fail” institutions. In cross-border cases, misaligned incentives and lack of robust mechanisms for resolution and cross-border cooperation left some country authorities with little choice but to take unilateral actions, which contributed to the high fiscal costs of the crisis and resulted in disorderly resolution in some cases

The Rise of Digital Money

The Rise of Digital Money PDF

Author: Mr.Tobias Adrian

Publisher: International Monetary Fund

Published: 2019-07-15

Total Pages: 20

ISBN-13: 1498324908

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This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.

Redefining Strategic Routes to Financial Resilience in ASEAN+3

Redefining Strategic Routes to Financial Resilience in ASEAN+3 PDF

Author: Asian Development Bank

Publisher: Asian Development Bank

Published: 2021-12-01

Total Pages: 293

ISBN-13: 9292691880

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Rapid globalization and digitalization have transformed the financial landscape of ASEAN+3—the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea. Despite impressive reforms, the region faces continued challenges. These include deepening corporate bond markets, coping with cross-border bank concentration risk, reducing dependence on the United States dollar, achieving sustainable infrastructure investments, addressing pension issues, and supporting fintech development. This edited volume highlights the potential for stronger regional financial cooperation to address such challenges. It explores how regional financial cooperation could promote greater financial resilience and stability amid rapid economic and financial development and technological change.

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