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Behind the money market: clearing and settling money market instruments

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  • David L. Mengle

Abstract

When a money market instrument is traded, the clearing and settlement process establishes the change in ownership. Because the process involves both costs and risks, money market participants have developed means of making clearing and settlement more efficient and less risky.

Suggested Citation

  • David L. Mengle, 1992. "Behind the money market: clearing and settling money market instruments," Economic Review, Federal Reserve Bank of Richmond, vol. 78(Sep), pages 3-11.
    • Handle: RePEc:fip:fedrer:y:1992:i:sep:p:3-11:n:v.78no.5
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    File URL: https://fraser.stlouisfed.org/files/docs/publications/frbrichreview/rev_frbrich199209.pdf
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    References listed on IDEAS

    as
    1. Adam Gilbert & Emily Gollob & Lauren A. Hargraves & Patrick M. Parkinson, 1992. "Clearance and settlement in U.S. securities markets," Staff Studies 163, Board of Governors of the Federal Reserve System (U.S.).
    2. James J. McAndrews, 1992. "Where has all the paper gone? Book-entry delivery-against-payment systems," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 19-30.
    3. anonymous, 1992. "Clearance and settlement in U.S. securities markets," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Mar, pages 182-184.
    4. George R. Juncker & Bruce J. Summers & Florence M. Young, 1991. "A primer on the settlement of payments in the United States," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Nov, pages 847-858.
    5. R. Alton Gilbert, 1992. "Implications of netting arrangements for bank risk in foreign exchange transactions," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 3-16.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Money market; Payment systems;

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