http://www.risk.net/ Home en-gb New data suggests a tech upgrade is needed to avoid a large central bank footprint in markets https://www.risk.net/comment/7956846/collateral-markets-in-need-of-rewiring https://www.risk.net/comment/7956846/collateral-markets-in-need-of-rewiring Thu, 01 Jun 2023 04:30:00 +0100 Manmohan Singh Rapid growth of stablecoins could impair monetary policy transmission https://www.risk.net/comment/7955790/why-central-banks-shouldnt-ignore-stablecoins https://www.risk.net/comment/7955790/why-central-banks-shouldnt-ignore-stablecoins Fri, 20 Jan 2023 04:30:01 +0000 Manmohan Singh Charles M Kahn The benefits of collateral availability may outweigh the monetary liquidity withdrawn by central banks https://www.risk.net/investing/markets/7952051/why-fears-about-quantitative-tightening-are-overblown https://www.risk.net/investing/markets/7952051/why-fears-about-quantitative-tightening-are-overblown Mon, 18 Jul 2022 11:11:30 +0100 Manmohan Singh Repo markets expert and crypto bank chief exec think Fed reserves are the right answer https://www.risk.net/comment/7948696/how-to-stop-stablecoins-from-hoarding-precious-collateral https://www.risk.net/comment/7948696/how-to-stop-stablecoins-from-hoarding-precious-collateral Tue, 17 May 2022 09:46:59 +0100 Manmohan Singh The reuse rate of collateral points to a growing fragility and interconnectedness in financial markets https://www.risk.net/comment/7840611/hedge-funds-and-the-rebound-in-collateral-velocity https://www.risk.net/comment/7840611/hedge-funds-and-the-rebound-in-collateral-velocity Mon, 07 Jun 2021 10:53:00 +0100 Manmohan Singh Phil Prince Practical obstacles and questionable netting benefits muddy the path to a clearing mandate, argues economist https://www.risk.net/comment/7827791/net-losers-benefits-of-clearing-us-treasuries-are-cloudy https://www.risk.net/comment/7827791/net-losers-benefits-of-clearing-us-treasuries-are-cloudy Tue, 04 May 2021 04:30:00 +0100 Manmohan Singh Incorporating collateral efficiency into IS-LM model reveals side-effects of QE https://www.risk.net/regulation/7552621/collateral-must-be-part-of-monetary-policy-equation https://www.risk.net/regulation/7552621/collateral-must-be-part-of-monetary-policy-equation Tue, 02 Jun 2020 13:13:36 +0100 Manmohan Singh Off-balance sheet funding is large, rising and not fully accounted for in leverage metrics https://www.risk.net/comment/7501351/leverage-is-underestimated https://www.risk.net/comment/7501351/leverage-is-underestimated Wed, 11 Mar 2020 04:30:02 +0000 Manmohan Singh Zohair Alam QE and demand for high-quality liquid assets have suppressed short-term rates, argue IMF economists https://www.risk.net/comment/6967846/how-collateral-scarcity-reshaped-the-us-yield-curve https://www.risk.net/comment/6967846/how-collateral-scarcity-reshaped-the-us-yield-curve Mon, 09 Sep 2019 11:59:19 +0100 Manmohan Singh Rohit Goel The financial system can operate efficiently with $500 billion or less in reserves after normalisation https://www.risk.net/comment/5489696/the-case-for-draining-excess-reserves https://www.risk.net/comment/5489696/the-case-for-draining-excess-reserves Fri, 06 Apr 2018 04:30:00 +0100 Manmohan Singh This paper describes the current policy for recovery and resolution of CCPs and assesses the tool kit for resolution of them. https://www.risk.net/journal-of-financial-market-infrastructures/5406576/central-counterparty-resolution-an-unresolved-problem https://www.risk.net/journal-of-financial-market-infrastructures/5406576/central-counterparty-resolution-an-unresolved-problem Thu, 08 Feb 2018 16:01:28 +0000 This paper looks at securities-lending, derivatives and prime-brokerage markets as suppliers of collateral. https://www.risk.net/journal-of-financial-market-infrastructures/2468969/collateral-flows-and-balance-sheets-space https://www.risk.net/journal-of-financial-market-infrastructures/2468969/collateral-flows-and-balance-sheets-space Wed, 07 Sep 2016 10:00:00 +0100