Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 87
... interbank payment system . These measures successfully subject the clearing balances , which represent the level of interbank liquidity , to the monetary rule of currency board system and ensure the efficient functioning of the interest ...
... interbank payment system . These measures successfully subject the clearing balances , which represent the level of interbank liquidity , to the monetary rule of currency board system and ensure the efficient functioning of the interest ...
Page 107
... interbank overnight market are very rear . To soften the distortions created by the large reserve requirement on the efficiency of the financial markets and the disadvantages of credit institutions in respect to other financial agents ...
... interbank overnight market are very rear . To soften the distortions created by the large reserve requirement on the efficiency of the financial markets and the disadvantages of credit institutions in respect to other financial agents ...
Page 109
... interbank offer rate . Processes taking place in the debt securities market have shifted it closer to the money market and it reflects the growth in both volume and diversity of domestic financial instruments . 3.3 . Payment and ...
... interbank offer rate . Processes taking place in the debt securities market have shifted it closer to the money market and it reflects the growth in both volume and diversity of domestic financial instruments . 3.3 . Payment and ...
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accession countries adjustment adopt the euro anchor currency assets average Bank of Estonia Bank of Lithuania banking sector banking system budget Bulgaria candidate countries capital movements cent central bank commercial banks competitiveness credibility currency board arrangement currency board system Currency Commission current account deficit debt Directorate domestic Economic and Financial Economic and Monetary economic policy EMU acquis ERMII Estonian kroon Estonian monetary euro area European Commission European Union exchange rate policy exchange rate regime exports Financial Affairs financial markets financial sector fiscal policy fixed exchange rate flexibility foreign exchange framework growth Hong Kong Honohan implementation important increase inflation integration interbank interest rates investment Irish pound joining the euro liquidity litas macroeconomic Member monetary policy monetary system Monetary Union money market nominal participation payments percent period real exchange rate reserve requirement Russian crisis seigniorage stabilisation trade transition economies wages