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Financial market utilities and the challenge of just-in-time liquidity

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Author Info
Richard Heckinger
David Marshall
Robert Steigerwald
Abstract

Financial market utilities ensure that clearing, settlement, and payments operations go smoothly. This article explores how these systems mitigate settlement risk, using precisely targeted “just-in-time” liquidity, and discusses the risks for financial stability implied by the increasing role of just-in-time liquidity in our financial markets.

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File URL: http://www.chicagofed.org/publications/fedletter/cflnovember2009_268a.pdf
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Article provided by Federal Reserve Bank of Chicago in its journal Chicago Fed Letter.

Volume (Year): (2009)
Issue (Month): Nov ()
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Handle: RePEc:fip:fedhle:y:2009:i:nov:n:268a

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This page was last updated on 2009-12-17.

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