Traduction de «Taux de fourniture de liquidités » (Français → Anglais) :

supply rate

emergency liquidity assistance | ELA [Abbr.]

cash reinvestment ratio

financial risk [ credit risk | default risk | exchange risk | foreign exchange rate risk | interest rate risk | liquidity risk | loan risk | macroprudential risk | market risk | sovereign risk | systematic risk | systemic risk ]

secondary liquid assets ratio

liquidity ratio of banks

However, as long as the institutional market offers competitive rates and some liquidity, which it has and seems to continue to do because, as I said, even in the darkest days of the credit crisis, municipalities had no trouble selling their debt issues, people are unlikely to resort to a bond market that is more costly.

54. Points equally to the potential conflict of interest between the current role of the ECB in the Troika as ‘technical advisor’ and its position as creditor of the four Member States, as well as its mandate under the Treaty as it has made its own actions conditional on decisions it is itself part of; nonetheless, welcomes its contribution in addressing the crisis but requests that potential ECB conflicts of interest, especially as regards crucial liquidity policy, are carefully scrutinised; notes that throughout the crisis the ECB has had crucial information on the health of the banking sector and financial stability in general, and ...[+++]that with this in mind it has subsequently exerted policy leverage on decision-makers, at least in the cases of the Greek debt restructuring, where the ECB insisted that CACs were to be removed from government bonds it held, the Cypriot ELA operations, and the Irish non-inclusion of senior-bondholders in the bail-in; calls on the ECB to publish the letter of 19 November 2010 from Jean-Claude Trichet to the then Irish Finance Minister, as requested by the European Ombudsman;

54. Points equally to the potential conflict of interest between the current role of the ECB in the Troika as ‘technical advisor’ and its position as creditor of the four Member States, as well as its mandate under the Treaty as it has made its own actions conditional on decisions it is itself part of; nonetheless, welcomes its contribution in addressing the crisis but requests that potential ECB conflicts of interest, especially as regards crucial liquidity policy, are carefully scrutinised; notes that throughout the crisis the ECB has had crucial information on the health of the banking sector and financial stability in general, and ...[+++]that with this in mind it has subsequently exerted policy leverage on decision-makers, at least in the cases of the Greek debt restructuring, where the ECB insisted that CACs were to be removed from government bonds it held, the Cypriot ELA operations, and the Irish non-inclusion of senior-bondholders in the bail-in;

Here I am thinking in particular of practices such as securities lending, rehypothecation and repurchasing, which can lead to excessive risk-taking, sheep-like behaviour ("runs") and excessive volatility in liquidity provision.