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Financial Regulation and Australian Dollar Liquid Assets

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Author Info

  • Alexandra Heath

    (Reserve Bank of Australia)

  • Mark Manning

    (Reserve Bank of Australia)

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    Abstract

    Liquid assets with low credit and market risk have a number of uses in financial markets, such as providing collateral against short-term funding or credit exposures that arise between counterparties to financial transactions. This article examines the existing sources of demand for Australian dollar-denominated liquid assets. Given relatively low levels of government debt in Australia, demand for these assets has been increasing relative to supply for some time. A further increase in demand arising from regulatory changes designed to improve the management of liquidity risk and counterparty credit risk will accentuate this trend.

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    File URL: http://www.rba.gov.au/publications/bulletin/2012/sep/pdf/bu-0912-6.pdf
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    Bibliographic Info

    Article provided by Reserve Bank of Australia in its journal RBA Bulletin.

    Volume (Year): (2012)
    Issue (Month): (September)
    Pages: 43-52

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    Handle: RePEc:rba:rbabul:sep2012-06

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    Related research

    Keywords: liquidity; collateral; central bank operations; government bond markets; financial regulation; Basel III; OTC derivatives;

    References

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    1. Matthew Boge & Ian Wilson, 2011. "The Domestic Market for Short-term Debt Securities," RBA Bulletin, Reserve Bank of Australia, pages 39-48, September.
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    Cited by:
    1. Morten Bech & Todd Keister, 2014. "On the economics of committed liquidity facilities," BIS Working Papers 439, Bank for International Settlements.
    2. Manmohan Singh, 2013. "The Changing Collateral Space," IMF Working Papers 13/25, International Monetary Fund.

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