Collateral and Financial Plumbing

Author: Manmohan Singh
Publisher: Risk Books
ISBN: 9781782720898
Published In: June 2014
Format: Paperback
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Collateral management in monetising assets has never been more important, policy makers recognising this fact have started to pay increased attention to the complex collateral plumbing that is fundamental to lending and enabling growth in the economy.

Use this book to make sure your collateral management is at its most effective. Discover the importance of financial plumbing, gain a practical understanding of how financial collateral moves across jurisdictions and also how to navigate the future as rules and regulations for the global financial markets are redrawn.

"...This book weaves a rich and unique tapestry of a complex subject in an accessible manner."
Patrick Pearson, Acting Director of Financial Markets, European Commission

Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes - including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement - the role of effective collateral management in monetising assets has never been more important.

Until now, policy makers have tended to ignore the complex collateral plumbing that is fundamental to lending and enabling growth in the economy. Attention is now focussed on this important issue.

This book, the first of its kind, is written by the leading authority on collateral Manmohan Singh. He leads you through the complex world highlighting the importance of financial plumbing and provides a practical understanding of how financial collateral moves across jurisdictions. Also, the discussion on restricting collateral velocity and how it links to monetary policy rate cycle is original.

This is a must have guide to navigating the future as rules and regulations for the global financial markets are redrawn.

Through a thorough examination of the role collateral plays in the market you will gain a deeper understanding of complex and important themes that are likely to remain topical in the near future.
1. Introduction
2. Collateral in Financial Plumbing
3. Collateral Velocity
4. The Economics of Shadow Banking
5. Collateral and Monetary Policy
6. Money, Collateral and Safe Assets
7. Collateral and the OTC Derivatives Market
8. The Changing Collateral Space
9. The Collateral Infrastructures
10. Sovereign Bank Nexus via Collateral use in OTC Derivatives
11. When Financial Plumbing Fails - Recovery and Resolution of CCPs
Manmohan Singh is a senior economist at the IMF. He writes extensively on topical issues including collateral and monetary policy, rehypothecation and velocity of collateral, deleveraging in financial markets, shadow banking, and counterparty risk in OTC derivatives. Singh has led the IMF’s workshops for official policymakers on strategic asset-allocation issues and the new financial regulatory framework. His articles have frequently appeared in the Financial Times, the Wall Street Journal, Euromoney, Risk, the Journal of Financial Infrastructures and other publications. His work experience covers several countries, including the UK, the US, Chile, India, Japan, Hungary, Poland, the Gulf countries and, more recently, peripheral Europe.