IMF paper says central banks are hoarding good collateral

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Central banks' unconventional monetary policy is contributing to a drain of good collateral from the market, an International Monetary Fund (IMF) working paper, published on January 28, has found.

The author, IMF economist Manmohan Singh, investigates how the pools of collateral available to financial institutions have changed since the advent of the crisis.

Advanced-economy central banks are "significantly changing the collateral landscape", Singh writes, as they are removing ‘good collateral'

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