Froukelien Wendt's Books

Central Counterparties

Addressing their Too Important to Fail Nature

By: Froukelien Wendt

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Central Counterparties

Addressing their Too Important to Fail Nature

By: Froukelien Wendt

Central counterparties (CCPs) can offer significant benefits to a market. However, CCPs are also highly interconnected with financial institutions and markets and therefore too important to fail. The increased volumes cleared through CCPs and their increasing global scope, in particular in the OTC derivatives market, make it even more important that systemic risks related to CCPs are managed. This paper argues that the current set of international policy measures does partly address these risks, but that alternative policy measures are needed to reduce remaining systemic risks. For example, the paper recommends network analysis to be conducted by CCPs and authorities to gauge potential losses and suggests a common international approach to central bank services to help reduce the dependency of CCPs on services provided by commercial banks.

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International Monetary Fund

Published Date

ISBN 10

1498322050

ISBN 13

9781498322058

How to Organize Central Securities Depositories in Developing Markets

Key Considerations

By: Ms.Froukelien Wendt,Peter Katz,Alice Zanza

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How to Organize Central Securities Depositories in Developing Markets

Key Considerations

By: Ms.Froukelien Wendt,Peter Katz,Alice Zanza

The key objective of this note is to support authorities in their decision making about the optimal organization of central securities depositories (CSDs) in their country. For the purpose of this note, a CSD is defined as an entity that provides securities accounts, a securities settlement system, and central safekeeping services to market participants, which can be banks and other financial institutions. Authorities in developing markets, in particular central banks, may grapple with two questions: (1) whether to pursue a single CSD to increase market efficiencies and benefit from economies of scale and scope and (2) whether to partake in the governance of the CSD as owner or operator. This note presents seven considerations for authorities to take into account when answering these questions and determining the best model for their country.

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International Monetary Fund

Published Date

ISBN 10

1484397436

ISBN 13

9781484397435

Measuring the Impact of a Failing Participant in Payment Systems

By: Ronald Heijmans,Ms.Froukelien Wendt

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Measuring the Impact of a Failing Participant in Payment Systems

By: Ronald Heijmans,Ms.Froukelien Wendt

Banks and financial market infrastructures (FMIs) that are not able to fulfill their payment obligations can be a source of financial instability. This paper develops a composite risk indicator to evaluate the criticality of participants in a large value payment system network, combining liquidity risk and interconnections in one approach, and applying this to the TARGET2 payment system. Findings suggest that the most critical participants in TARGET2 are other payment systems, because of the size of underlying payment flows. Some banks may be critical, but this is mainly due to their interconnectedness with other TARGET2 participants. Central counterparties and central securities depositories are less critical. These findings can be used in financial stability analysis, and feed into central bank policies on payment system access, oversight, and crisis management.

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International Monetary Fund

Published Date

ISBN 10

1513545086

ISBN 13

9781513545080

Central Counterparties

Addressing their Too Important to Fail Nature

By: Froukelien Wendt

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Central Counterparties

Addressing their Too Important to Fail Nature

By: Froukelien Wendt

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International Monetary Fund

Published Date

ISBN 10

147557293X

ISBN 13

9781475572933

How to Organize Central Securities Depositories in Developing Markets

Key Considerations

By: Ms.Froukelien Wendt,Peter Katz,Alice Zanza

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How to Organize Central Securities Depositories in Developing Markets

Key Considerations

By: Ms.Froukelien Wendt,Peter Katz,Alice Zanza

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International Monetary Fund

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ISBN 10

1484397436

ISBN 13

9781484397435

Measuring the Impact of a Failing Participant in Payment Systems

By: Ronald Heijmans,Ms.Froukelien Wendt

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Measuring the Impact of a Failing Participant in Payment Systems

By: Ronald Heijmans,Ms.Froukelien Wendt

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International Monetary Fund

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ISBN 10

1513545086

ISBN 13

9781513545080

Organizing Central Securities Depositories in Developing Markets—7 Considerations

By: Froukelien Wendt,Peter Katz,Alice Zanza

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Organizing Central Securities Depositories in Developing Markets—7 Considerations

By: Froukelien Wendt,Peter Katz,Alice Zanza

Central securities depositories (CSDs) are systemically important entities that are critical for effective implementation of monetary policy, the credibility of a government’s debt management program, collateral management, and safe and efficient securities markets. Authorities in developing markets, in particular central banks, may grapple with the following issues: i) whether to pursue a single CSD for all types of securities to increase market efficiencies and benefit from economies of scale; and ii) whether to partake in the governance of the CSD as owner and/or operator. This paper develops seven considerations that authorities may take into account in addressing these issues and finding the best model for their country. These may point to different solutions for different countries, depending in part on the size of markets, strength of private operators and level of market development.

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International Monetary Fund

Published Date

ISBN 10

1484345274

ISBN 13

9781484345276

Book's by Froukelien Wendt

Central Counterparties

Central Counterparties

How to Organize Central Securities Depositories in Developing Markets

How to Organize Central Securities Depositories in Developing Markets

Measuring the Impact of a Failing Participant in Payment Systems

Measuring the Impact of a Failing Participant in Payment Systems

Central Counterparties

Central Counterparties

How to Organize Central Securities Depositories in Developing Markets

How to Organize Central Securities Depositories in Developing Markets

Measuring the Impact of a Failing Participant in Payment Systems

Measuring the Impact of a Failing Participant in Payment Systems

Organizing Central Securities Depositories in Developing Markets—7 Considerations

Organizing Central Securities Depositories in Developing Markets—7 Considerations

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