Polish economist encourages ‘broad’ collateral acceptance

Accepting a wider range of collateral creates more flexibility to buffer liquidity shocks


Central banks should opt for a "broad" collateral set when designing their collateral frameworks, according to Juliusz Jablecki, the National Bank of Poland's head of monetary policy analysis.

Jablecki, speaking at the National Asset-Liability Management conference in London today, identified a trade-off between liquidity provision and risk taking in a central bank's collateral framework.

He warned that central banks stand to make losses if they are either too lenient, or too stringent, in their

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