Eligibility, Bank Liquidity, Basel 3, Bank Credit and Macro-Prudential Policy: History and Current Issues
20 Pages Posted: 10 Sep 2014
Date Written: September 9, 2014
Abstract
The paper described the historical use of commercial bills in Bank of England operations, and suggests that by making more active use of the policy instrument of central bank asset choice, and by acknowledging the connection between liquidity regulation and open-market operations, central banks could better achieve some of their macro-prudential policy objectives and stimulate high-quality bank lending.
Keywords: commercial bills, bills of exchange, eligibility, bank liquidity, Basel 3, Liquidity Coverage Ratio, overfunding, monetary targets, macroprudential policy
JEL Classification: E52, E58
Suggested Citation: Suggested Citation
Allen, William A., Eligibility, Bank Liquidity, Basel 3, Bank Credit and Macro-Prudential Policy: History and Current Issues (September 9, 2014). Available at SSRN: https://ssrn.com/abstract=2493767 or http://dx.doi.org/10.2139/ssrn.2493767
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