Currency
Collateral Markets and Financial Plumbing (3rd edition)
£145.00
Monetising assets and collateral management has never been more important.
Policy makers are recognising this and paying increased attention to complex market plumbing, which is essential to grasp in order to better understand monetary policy, leverage as well as the shadow banking world.
Fully revised and completely updated Collateral Markets and Financial Plumbing, written by a global expert in collateral and financial markets infrastructure, Manmohan Singh, is now in its third edition. This bestselling book expands on the present thinking, shedding new light on the basic legal underpinnings of financial collateral, its sources and the key players in the markets. Singh also examines how the size of this market is relevant from a macroeconomic and monetary perspective.
Availability:
In stock
ISBN
9781782724285
Monetising assets and collateral management has never been more important.
Policy makers are recognising this and paying increased attention to complex market plumbing, which is essential to grasp in order to better understand monetary policy, leverage as well as the shadow banking world.
Fully revised and completely updated Collateral Markets and Financial Plumbing, written by a global expert in collateral and financial markets infrastructure, Manmohan Singh, is now in its third edition. This bestselling book expands on the present thinking, shedding new light on the basic legal underpinnings of financial collateral, its sources and the key players in the markets. Singh also examines how the size of this market is relevant from a macroeconomic and monetary perspective.
“Few understand the intricacies and impact of global collateral flows as Manmohan does! He offers a practical understanding of the role of collateral in supporting financial activity and provides provocative viewpoints which will encourage discussion”.
Sandie O’Connor, Former Chief Regulatory Affairs Officer, JPMorgan Chase
“Manmohan Singh has established himself as leading expert on how collateral availability affects the financial system and the economy. As collateral and repo market topics have continued to evolve rapidly over the last years, a new edition of his book was much warranted.”
Ulrich Bindseil, Director General of Market Infrastructure and Payments, ECB
“This book provides an authoritative overview of the plumbing of financial markets, with a discussion of broader financial stability and macroeconomic implications. It is a worthy reference for policy makers, practitioners, and students.”
Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department, International Monetary Fund
“Manmohan is one of a small number of global experts in this area. He is about the only authoritative source that doesn’t work for one of the major financial institutions and hence can provide an unbiased perspective on some controversial issues.”
Guy Debelle, Deputy Governor of the Reserve Bank of Australia
| ISBN | 9781782724285 |
|---|---|
| Navision code | MCOL3 |
| Publication date | 19 March 2020 |
| Size | 155mm x 235mm |
Write Your Own Review
Manmohan Singh
Manmohan Singh 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. 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.
Peter Stella is the former Head of the Central Banking and Monetary and Foreign Exchange Operations Divisions of the International Monetary Fund. He writes on money, payments and sovereign asset liability issues at his website Central Bank Archaeology. Peter holds a PhD in Economics from Stanford University.
Charles M. Kahn, professor emeritus of Finance and Economics at the University of Illinois, is a specialist in financial intermediation and contracting theory and a leading authority on the economics of payments. He serves as a visiting scholar at the Bank of Canada and research fellow at the St. Louis Federal Reserve and regularly consults for international organizations and central banks worldwide. He received his PhD from Harvard University and was a Marshall Scholar and later overseas fellow at Churchill College, Cambridge University, and Houblon-Norman Fellow at the Bank of England.
Dermot Turing worked at international law firm Clifford Chance where he was a partner until 2014. He specialized in financial sector regulation, financial market infrastructure, and the problems associated with failed banks. During 2016-17 he was an independent expert member of the European Post Trade Forum. He is currently Bletchley Park Visiting Fellow at Kellogg College, Oxford.
Caitlin Long is a 22-year Wall Street veteran who ran Morgan Stanley's pension solutions and corporate strategy businesses in New York before jumping to the blockchain industry full-time in 2016. Active in Bitcoin since 2012, she jointly spearheaded a blockchain project for delivering market index data to Vanguard as chairman and president of Symbiont from 2016-18. She recently led efforts in her native state of Wyoming build a clear legal/regulatory structure for cryptocurrencies, enacting 13 new laws.
Haobin Wang is an economist at the International Monetary Fund. He has a Ph.D. in Economics from Yale University and a BA from UC Berkeley. He has previously worked at Yale Jackson Institute for Global Affairs and the People’s Bank of China.
Zohair Alam is a PhD Candidate in Finance at the University of Toronto. Prior to this, he spent 4 years with the Monetary and Capital Markets Department of the International Monetary Fund (IMF), and completed an MA in Applied Economics at Georgetown University.
Rohit Goel works as a financial sector expert at IMF. Prior to this, he was with Barclays Capital. He holds a B.Tech. in computer science from Indian Institute of Technology (Delhi), and an MBA from Indian Institute of Management (Bangalore), and CFA, CAIA, FRM certifications
Darrel Duffie, Dean Witter Distinguished Professor of Finance at the Graduate School of Business, Department of Economics, Stanford University. Manmohan Singh clearly explains why the plumbing of the financial system matters so much for the stability and performance of the system. He illuminates critical limits on flows of collateral --- high quality liquid assets that back commitments. Anyone interested in how the financial system actually works should have this important book.
1. Collateral in Financial Plumbing
2. Collateral Velocity
3. Leverage in the Financial System
4. Quantitative Easing and the IS/LM framework
5. Money and Collateral
6. “Reverse” Monetary Policy Transmission
7. Central Bank Balance Sheet Policies and Emerging Markets
8. The Collateral Custodians
9. The Changing Collateral Space
10. Collateral in the OTC Derivatives Market
11. CCP Resolution Remains Unresolved
12. The Sovereign–Bank Nexus via OTC Derivatives
13. Privacy Provision, Payment Latency and Role of Collateral
14. Conclusion