Asset managers becoming key drivers of policy transmission – BIS research
Positions appear to respond more to the Fed than the macroeconomy
Asset managers are playing a central role in the transmission of monetary policy, a working paper published on August 29 by the Bank for International Settlements (BIS) finds.
Lawrence Kreicher and Robert McCauley focus on the response of the eurodollar futures market to Federal Reserve policy announcements and employment surprises. In Asset managers, eurodollars and unconventional monetary policy, they find asset managers have in recent years taken positions on the basis of the Fed's forward
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Operating framework
Chinese policy-makers warm to PBoC bond trading
PBoC’s trading of government bonds will be different from QE, central bank official says
ECB caps remuneration rates for eurozone government deposits
New rate to also apply to non-monetary policy deposits, as ECB shrinks balance sheet
Campaigners call on BoE to make collateral rules greener
Report says bank’s use of fossil fuel assets as collateral is adding to climate risks
Sri Lanka considers move to single policy rate
CBSL plans overhaul of monetary operations and improved liquidity forecasting
Former NY Fed chief calls for overhaul of discount window
Dudley’s proposed changes include prepositioning collateral, cutting costs of secondary credit facility
Argentina adopts new policy rate
BCRA will use overnight reverse repo rate after halting auctions of Leliq bonds
Cambodia’s Serey calls for greater use of local currency
Governor says demand for the riel has improved over the years
Corridor, floor, other: are operating frameworks fit for the future?
Central banks are becoming aware that monetary operations have ramifications beyond setting short-term rates
Most read
- Trends in reserve management 2024: survey results
- People: RBI appoints senior officials
- China to start selling ultra-long term sovereign bonds