Article

Markets and operations: 2011 Q4

January 2011

Source
RePEc

Authors:

This article reviews developments in sterling financial markets, including the Bank’s official operations, between the 2011 Q3 Quarterly Bulletin and 25 November 2011. The article also summarises market intelligence on selected topical issues relating to market functioning.

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ResearchGate has not been able to resolve any references for this publication.

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This article reviews developments in global financial markets since the 2008 Q1 Quarterly Bulletin up to the end of May 2008. The article also reviews the Bank's official operations during this period.

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January 1970

Abstract In the context of a search model of asset trading with adverse selection, we demonstrate that trading of a financial asset will seize, when its average quality drops sufficiently. A large player, however, can establish trading again, if he removes a sufficiently large quantity of bad assets which involves assuming losses. Most importantly, we show that such a player does not have to ... [Show full abstract] intervene immediately: a mere announcement today of intervening at a later point in time can cause markets to function continuously, even after a drop in the quality of assets. We characterize when immediate intervention is necessary for continuous markets and when it is indeed optimal. Finally, we intend to study the trade-off between the size and the timing of the intervention. The views expressed in this paper are not necessarily the views of the Bank of Canada.

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Markets and operations: 2011 Q1

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This article reviews developments in sterling financial markets, including the Bank’s official operations, between the 2010 Q4 Quarterly Bulletin and 25 February 2011. The article also summarises market intelligence on selected topical issues relating to market functioning.

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November 2000 · Journal of Money Credit and Banking

Anthony Saunders

This paper provides a broad overview of the potential impact of low inflation (deflation) on US financial markets and institutions. It is argued that the contemporary experience of Japan and the historical experience of the U.S. in the 1920s and 30s offer only limited insights into the potential impact of low inflation (deflation) on today's US financial system. A number of potential implications ... [Show full abstract] are discussed including a decline in secondary market trading and a trend towards reintermediation. In addition, low inflation/deflation is likely to have a material effect on bank duration and convexity exposures.

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January 2013 · Finance a Uver

We examine how written and oral central bank communications affect the level and volatility of interest rates. We use detailed daily data on the Czech central bank's communication in 2007-2012. We find that financial markets respond to central bank communication. Short-term interest rates rise if the bank communicates that economic conditions are good. The results suggest that written ... [Show full abstract] communication, but not oral communication, decreases the volatility of both short-term and long-term interest rates. The timing of communication has a key role, as comments made closer to the monetary policy meeting have a bigger calming effect on the markets. All in all, our results point to the importance of well-designed communication for reducing noise in the financial markets.

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The Effect of the Term Auction Facility on the London Inter-Bank Offered Rate

February 2008 · SSRN Electronic Journal

This paper examines the effects of the Federal Reserve's Term Auction Facility (TAF) on the London Inter-Bank Offered Rate (LIBOR). The particular question investigated is whether the announcements and operations of the TAF are associated with downward shifts of the LIBOR; such an association would provide one indication of the efficacy of the TAF in mitigating liquidity problems in the interbank ... [Show full abstract] funding market. The empirical results suggest that the TAF has helped to ease strains in this market.

Article

Bank of England Intervention and the Structure of Interest Rates in the London Interbank Market.

February 1994

Presentation

Full-text available

BRICS FINANCE - THE MIGHTY AND THE MAGNTITUDE

September 2017

Ram Prasad Bandi

Financial markets in the BRICS countries have showed rapid growth. Not just in terms of global banks and assets but also of trading in spot and derivatives markets of different classes.

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Interest Rates, Market Pricing, and Compounding

October 2008 · SSRN Electronic Journal

Using examples from financial markets, this note examines links among market prices, stated interest rates, and compounding assumptions. The note emphasizes how interest rates are expressions of market prices, and pays particular attention to the role of compounding assumptions. Market prices are converted into stated interest rates for different compounding assumptions. Guidance is offered on ... [Show full abstract] how to make intelligent comparisons across markets that use different compounding conventions. The note is useful as background for the study of a wide array of pricing issues in fixed-income and options markets.

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Article

Markets and operations: 2011 Q3

January 2011

Olaf Weeken

This article reviews developments in sterling financial markets, including the Bank’s official operations, between the 2011 Q2 Quarterly Bulletin and 26 August 2011. The article also summarises market intelligence on selected topical issues relating to market functioning.

Article

Markets and Operations 2008 Q4

December 2008

Darren Pain

This article reviews developments in global financial markets since the 2008 Q3 Quarterly Bulletin up to late November 2008. The article also reviews the Bank's official operations during this period.

Markets and operations: 2011 Q4

Abstract

No full-text available

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