The practice of central banking in other industrialized countries
AbstractCentral banks in larger industrialized countries increasingly favor market operations, the buying and selling of securities, over standing facilities, such as lending and deposit facilities, in conducting their monetary policies. In their market operations, foreign central banks most commonly trade securities issued or guaranteed by their governments and repurchase agreements that are backed by a variety of assets, including private securities and securities denominated in foreign currencies. Some also trade in securities that are issued by other governments or private securities that are guaranteed by governments or financial institutions. In some cases, these securities may be denominated in foreign currencies.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Boston in its journal New England Economic Review.
Volume (Year): (2002)
Issue (Month): Q 2 ()
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Working Paper Series in Economics
4, University of Cologne, Department of Economics.
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