Cross-border collateral may alleviate dollar funding strains: Emeap

Executives’ Meeting of East Asia Pacific Central Banks says crisis revealed shortcomings in regional money markets; swaps deals, cross-border collateral could alleviate some problems

dollar vortex

Cooperation through swap arrangements and the development of cross-border collateral lists is vital to prevent liquidity strains in their money markets, East Asian and Pacific central bankers said last Thursday.

The financial markets working group of the Executives' Meeting of East Asia Pacific Central Banks (Emeap), which met in Sydney from Wednesday to Friday, said the "wave of bail-outs and bankruptcies in the US and European financial sectors in autumn 2008 was the catalyst for significant

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