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220928 ||| eng |
020 |
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|a 9781513549149
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100 |
1 |
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|a Barajas, Adolfo
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245 |
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|a Global Banks’ Dollar Funding: A Source of Financial Vulnerability
|c Adolfo Barajas, Andrea Deghi, Claudio Raddatz, Dulani Seneviratne, Peichu Xie, Yizhi Xu
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2020
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300 |
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|a 50 pages
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651 |
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4 |
|a United States
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653 |
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|a Payment Systems
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653 |
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|a Banks
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653 |
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|a Finance
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653 |
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|a Banks and banking
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653 |
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|a Regimes
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653 |
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|a Mortgages
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653 |
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|a Money
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653 |
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|a Liquidity; Economics
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653 |
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|a Central banks
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653 |
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|a International Financial Markets
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653 |
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|a Foreign Exchange
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653 |
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|a Standards
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653 |
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|a Currencies
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653 |
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|a Banking
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653 |
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|a Liquidity indicators
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653 |
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|a Liquidity management
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653 |
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|a Investment Decisions
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653 |
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|a Depository Institutions
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653 |
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|a Government and the Monetary System
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653 |
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|a Commercial banks
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653 |
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|a Foreign exchange reserves
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653 |
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|a Monetary economics
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653 |
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|a Financial institutions
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653 |
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|a Micro Finance Institutions
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653 |
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|a Financial Institutions and Services: Government Policy and Regulation
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653 |
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|a Asset and liability management
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653 |
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|a Banks and banking; State supervision
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653 |
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|a International reserves
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653 |
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|a Banks and Banking
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653 |
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|a Monetary Systems
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653 |
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|a Financial regulation and supervision
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653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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653 |
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|a Monetary Policy
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653 |
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|a Money and Monetary Policy
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653 |
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|a Finance: General
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653 |
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|a Portfolio Choice
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653 |
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|a Financial services law & regulation
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653 |
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|a Liquidity requirements
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653 |
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|a Financial Crises
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700 |
1 |
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|a Deghi, Andrea
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700 |
1 |
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|a Raddatz, Claudio
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700 |
1 |
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|a Seneviratne, Dulani
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041 |
0 |
7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
0 |
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|a IMF Working Papers
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028 |
5 |
0 |
|a 10.5089/9781513549149.001
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856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2020/113/001.2020.issue-113-en.xml?cid=49529-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a Leading up to the global financial crisis, US dollar activity by global banks headquartered outside the United States played a crucial role in transmitting shocks originating in funding markets. Although post-crisis regulation has improved banking systems’ resilience, US dollar funding remains a global vulnerability, as evidenced by strains that reemerged in March 2020 in the midst of the COVID-19 crisis. We show that shocks to US dollar funding costs lead to financial stress in the home economies of these global non-US banks, and to spillovers to borrowers, especially emerging economies. US dollar funding vulnerability amplifies these negative effects, while some policy-related factors act as mitigators, such as swap line arrangements between central banks and international reserve holdings. Thus, these vulnerabilities should be monitored and, to the extent possible, controlled
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