IMF head wants harmonisation of collateral rules

Dominique Strauss-Kahn, the managing director of the International Monetary Fund, has called on central banks to coordinate policy on open-market operations.

Strauss-Kahn said central banks "should take this opportunity to seek more convergence on what kind of institutions they provide liquidity to, what collateral they will accept and what maturity they provide liquidity on."

Commercial institutions have long called for the central banks to harmonise rules with bankers as senior as Josef Ack

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