The Treasurers Handbook and Unconventional monetary policy: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Jeeten.patel@thinkpublishing.co.uk
No edit summary
 
imported>Doug Williamson
(Expand page. Source: BIS https://www.bis.org/publ/cgfs63.pdf)
 
Line 1: Line 1:
<skin>actskinb</skin>
(UMP).
<div class="onecolumn">
{| border="1" cellpadding="5" cellspacing="0"  class=""
|-
| colspan="3" align="center" style="background: #f2ebef; color:#000; border-bottom: 0px solid #000; font-size:24px;" valign="top" |
'''Welcome to the 2016 wiki edition of The Treasurer’s Handbook'''
|-
| colspan="3" style="background: #fff;"|
Welcome to The Treasurer’s Handbook – an invaluable resource for all professionals working in treasury and corporate finance. The Handbook is designed to offer quick and accessible reference material to support treasurers and their colleagues in their responses to unpredictable change. Reflecting contemporary needs and our increasingly digital lifestyles, it is now available in a wiki format.
This online edition of the Handbook includes five key sections covering '''cash management, risk management, corporate finance''' (including articles on markets and funding) and the latest developments for '''treasury professionals''', plus our ever-popular '''country guides''' with information on national banking, regulatory and financial systems.
Many thanks to Lloyds Bank for sponsoring content in this online edition of The Treasurer’s Handbook, and to all our expert contributors from universities, financial institutions, professional bodies and the ACT. We are confident that in its new format, the Handbook will remain the essential reference tool for treasurers.
|-
|}
</div>


<div class="path_row">
Monetary policy is central government or other policy to stimulate or otherwise influence economic activity by influencing money supply or interest rates.


<div class="onecolumn">
Historically, mechanisms for influencing the money supply have included the use of open market operations, the central bank discount rate and reserve requirements.
{| border="1" cellpadding="5" cellspacing="0"  class=""
|-
| colspan="3" align="center" style="background: #490024; color:#fff; border-bottom: 0px solid #000; font-size:24px;" valign="top" |
'''Cash management'''
|-
| colspan="3" style="background:#e9d7e0" |
[[Cash_management_in_Africa|Cash management in Africa]]
|-
| colspan="3" style="background:#f2ebef" |
[[Cash_management_in_Asia:_extracting_signal_from_noise|Cash management in Asia]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Cash_management_in_Latin_America|Cash management in Latin America]]
|-
| colspan="3" style="background:#f2ebef" |
[[Cash_in_the_new_post-crisis_world|Cash in the new post-crisis world]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Cash_investing_in_a_new_world|Cash investing in a new world]]
|-
| colspan="3" style="background:#f2ebef" |
[[Legal_implications_of_cash_pooling_structures|Legal implications of cash pooling structures]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Market-based_approaches_to_cash_management_and_liquidity|Market-based approaches to cash management and liquidity]]
|-
| colspan="3" style="background:#f2ebef" |
[[Money_market_fund_reform:_a_light_at_the_end_of_the_tunnel%3F|Money market fund reform: a light at the end of the tunnel?]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Payments_and_payment_systems|Payments and payment systems]]
|-
| colspan="3" style="background:#f2ebef" |
[[The_future_of_pooling|The future of pooling]]
|-
|}
</div>


<div class="onecolumn">
{| border="1" cellpadding="5" cellspacing="0"  class=""
|-
| colspan="3" align="center" style="background: #490024; color:#fff; border-bottom: 0px solid #000; font-size:24px;" valign="top" |
'''Treasury professional'''
|-
|Sponsored by
|-
| colspan="3" style="background: #fff;" |
[[File:Sponsor_lloyds.png|link=http://www.lloydsbank.com|alt=Sponsored by Lloyds]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Approaching_technology_decisions_in_the_treasury_function|Approaching technology decisions in the treasury function]]
|-
| colspan="3" style="background:#f2ebef" |
[[Building_a_Debt_IR_function|Building a Debt IR function]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Cyber_security: protecting_your_business_and_your_clients|Cyber security: protecting your business and your clients]]
|-
| colspan="3" style="background:#f2ebef" |
[[Derivatives_documentation|Derivatives documentation]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Developments_in_corporate_and_market_regulation:_implications_for_the_treasurer|Developments in corporate and market regulation: implications for the treasurer]]
|-
| colspan="3" style="background:#f2ebef" |
[[Immediate_payments_and_the_impact_on_corporate_treasurers|Immediate payments and the impact on corporate treasurers]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Treasury_performance_management_–_waste_of_time_or_a_necessity%3F|Treasury performance management – waste of time or a necessity?]]
|-
|}
</div>


<div class="onecolumn">
'Unconventional' monetary policy includes:
{| border="1" cellpadding="5" cellspacing="0"  class=""
*Quantitative easing (asset purchase programmes)
|-
*Forward guidance
| colspan="3" align="center" style="background: #490024; color:#fff; border-bottom: 0px solid #000; font-size:24px;" valign="top" |
*Negative interest rates
'''Risk management'''
*New lending operations
|-
|Sponsored by
|-
| colspan="3" style="background: #fff;" |
[[File:Sponsor_lloyds.png|link=http://www.lloydsbank.com|alt=Sponsored by Lloyds]]
|-
| colspan="3" style="background:#e9d7e0" |
[[Guide_to_risk_management|Guide to risk management]]
|-
| colspan="3" style="background:#f2ebef" |
[[Climate_change:_testing_the_resilience_of_corporates’_creditworthiness_to_natural_catastrophes|Climate change: testing the resilience of corporates’ creditworthiness to natural catastrophes]]
|-
| colspan="3" style="background:#e9d7e0" |
[[The_RMB_takes_centre_stage:_the_internationalisation_journey|The RMB takes centre stage: the internationalisation journey]]
|-
| colspan="3" style="background:#f2ebef" |
[[Putting_a_limit_on_losses|Putting a limit on losses]]
|-
|}
</div>
</div>


<div class="path_row" >
<div class="threecolumn">
{| border="1" cellpadding="5" cellspacing="0"  class=""
|-
| colspan="3" align="center" style="background: #490024; color:#fff; border-bottom: 0px solid #000; font-size:24px;" valign="top" |
'''Corporate finance'''
|-
|colspan="2" |
Sponsored by
|-
| colspan="3" style="background: #fff;" |
[[File:Sponsor_lloyds.png|link=http://www.lloydsbank.com|alt=Sponsored by Lloyds]]
|-
| width="50%" style="background:#e9d7e0" | [[An_introduction_to_debt_securities|An introduction to debt securities]]
| width="50%" style="background:#e9d7e0" | [[European_high-yield_market_coming_of_age|European high-yield market coming of age]]
|-
| width="50%" style="background:#f2ebef" | [[An_introduction_to_equity_capital|An introduction to equity capital]]
| width="50%" style="background:#f2ebef" | [[IFRS_–_issues_for_the_treasurer|IFRS – issues for the treasurer]]
|-
| width="50%" style="background:#e9d7e0" | [[An_introduction_to_loan_finance|An introduction to loan finance]]
| width="50%" style="background:#e9d7e0" | [[IFRS_9_hedge_accounting_reforms:_a_closer_reflection_of_risk_management%3F|IFRS 9 hedge accounting reforms: a closer reflection of risk management?]]
|-
| width="50%" style="background:#f2ebef" | [[Asian_capital_market_integration:_theory_and_evidence|Asian capital market integration: theory and evidence]]
| width="50%" style="background:#f2ebef" | [[Sharia-compliant_fixed_income_capital_markets_instruments_for_cross-border_transactions|Sharia-compliant fixed income capital markets instruments for cross-border transactions]]
|-
| width="50%" style="background:#e9d7e0" | [[Assessing_the_US_private_placement_market_from_a_corporate_perspective|Assessing the US private placement market from a corporate perspective]]
| width="50%" style="background:#e9d7e0" | [[The_role_of_the_OECD_export_credit_agencies|The role of the OECD export credit agencies]]
|-
| width="50%" style="background:#f2ebef" | [[Corporate_credit_ratings:_a_quick_guide|Corporate credit ratings: a quick guide]]
| width="50%" style="background:#f2ebef" | [[The_wave_of_changes_to_IFRS_and_convergence_with_FASB_will_continue_to_present_challenges_for_treasurers|The wave of changes to IFRS and convergence with FASB will continue to present challenges for treasurers]]
|-
| width="50%" style="background:#e9d7e0" | [[Credit_ratings:_helping_supply_to_meet_demand|Credit ratings: helping supply to meet demand]]
| width="50%" style="background:#e9d7e0" |
|}
</div>
</div>


<div class="path_row">
== See also ==
<div class="threecolumn">
* [[Forward guidance]]
{| border="1" cellpadding="5" cellspacing="0"  class=""
* [[Lending operations]]
|-
* [[Negative interest rate policies]]
| colspan="3" align="center" style="background: #490024; color:#fff; border-bottom: 0px solid #000; font-size:24px;" valign="top" |
* [[Quantitative easing ]]
'''Country guides'''
* [[Reserve requirements]]
|-
* [[Sterling Monetary Framework]]
| width="33%" style="background:#e9d7e0" | [[Argentina|Argentina]]
* [[Supply side policy]]
| width="33%" style="background:#e9d7e0" | [[Italy|Italy]]
* [[Zero lower bound]]
| width="33%" style="background:#e9d7e0" | [[South_Korea|South Korea]]
* [[ZLB problem]]
|-
| width="33%" style="background:#f2ebef" | [[Australia|Australia]]
| width="33%" style="background:#f2ebef" | [[Japan|Japan]]
| width="33%" style="background:#f2ebef" | [[Spain|Spain]]
|-
| width="33%" style="background:#e9d7e0" | [[Brazil|Brazil]]
| width="33%" style="background:#e9d7e0" | [[Mexico|Mexico]]
| width="33%" style="background:#e9d7e0" | [[Switzerland|Switzerland]]
|-
| width="33%" style="background:#f2ebef" | [[Canada|Canada]]
| width="33%" style="background:#f2ebef" | [[Netherlands|Netherlands]]
| width="33%" style="background:#f2ebef" | [[Taiwan|Taiwan]]
|-
| width="33%" style="background:#e9d7e0" | [[China|China]]
| width="33%" style="background:#e9d7e0" | [[Nigeria|Nigeria]]
| width="33%" style="background:#e9d7e0" | [[Thailand|Thailand]]
|-
| width="33%" style="background:#f2ebef" | [[Egypt|Egypt]]
| width="33%" style="background:#f2ebef" | [[Poland|Poland]]
| width="33%" style="background:#f2ebef" | [[Turkey|Turkey]]
|-
| width="33%" style="background:#e9d7e0" | [[France|France]]
| width="33%" style="background:#e9d7e0" | [[Qatar|Qatar]]
| width="33%" style="background:#e9d7e0" | [[United_Arab_Emirates|United Arab Emirates]]
|-
| width="33%" style="background:#f2ebef" | [[Germany|Germany]]
| width="33%" style="background:#f2ebef" | [[Russia|Russia]]
| width="33%" style="background:#f2ebef" | [[United_Kingdom|United Kingdom]]
|-
| width="33%" style="background:#e9d7e0" | [[Hong_Kong|Hong Kong]]
| width="33%" style="background:#e9d7e0" | [[Saudi_Arabia|Saudi Arabia]]
| width="33%" style="background:#e9d7e0" | [[United_States|United States]]
|-
| width="33%" style="background:#f2ebef" | [[India|India]]
| width="33%" style="background:#f2ebef" | [[Singapore|Singapore]]
| width="33%" style="background:#f2ebef" |
|-
| width="33%" style="background:#e9d7e0" | [[Indonesia|Indonesia]]
| width="33%" style="background:#e9d7e0" | [[South_Africa|South Africa]]
| width="33%" style="background:#e9d7e0" |
|}


</div>
[[Category:Accounting,_tax_and_regulation]]
</div>
[[Category:The_business_context]]
 
[[Category:Corporate_finance]]
[[Category:Book_Export]]
[[Category:Investment]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]

Revision as of 20:27, 8 June 2020

(UMP).

Monetary policy is central government or other policy to stimulate or otherwise influence economic activity by influencing money supply or interest rates.

Historically, mechanisms for influencing the money supply have included the use of open market operations, the central bank discount rate and reserve requirements.


'Unconventional' monetary policy includes:

  • Quantitative easing (asset purchase programmes)
  • Forward guidance
  • Negative interest rates
  • New lending operations


See also