By Irving Fisher
Article by means of Irving Fisher (1936), Professor Emeritus of Economics, Yale collage, urges Congress to take again the Constitutional funds energy, redeem the nationwide debt, require banks' call for deposit to be a hundred% liquid, to heading off an inelastic personal loan constitution that bursts, leaving frozen loans in the back of, and steer clear of 'Global monetary Crises." brief biography via Michael Schemmann.1867
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Additional info for 100% Money and the Public Debt
This metric, after an observation period, will be introduced as prescriptive starting from January 2015. In the transitional period, it will be essential to monitor the interaction effects between the liquidity regulation based on the LCR requirement and differing central bank operational and collateral frameworks, particularly in terms of the securities that are eligible as lending facilities and the conditions for accessing the refinancing facilities. A recent empirical analysis showed the interaction between the new regulatory scheme based on the LCR metric with non-uniform operational and collateral frameworks among the various central banks, in terms of eligible securities and conditions for accessing the refinancing facilities.
1 The Impact on Profitability In recent decades, at a time of increasing internationalization of financial systems and increasing competitive pressures, each bank had to strike a delicate balance between a prudent and harmonious maturity structure of assets and liabilities and the pursuit of appropriate levels of profitability. The increasing competition and margin compression combined with sometimes excessive levels of risk appetite have prompted some banks to look for combinations of assets and liabilities that were more and more profitable, reducing to a minimum the holding of liquid assets and expanding dramatically the degree of maturity transformation.
71 The activities of the shadow banking system are functionally directed to credit intermediation between surplus and deficit subjects and are based on the collection of instruments with similar characteristics to deposits and/or lending through repurchase agreements, securities lending and securitisation. At the end of 2010 the overall value of the shadow banking system was estimated at 60,000 billion dollars, with a weight of more than one fourth of the total assets of the global financial system.
100% Money and the Public Debt by Irving Fisher