Financial market utilities and the challenge of just-in-time liquidity

Financial market utilities ensure that clearing, settlement, and payments operations go smoothly. This article explores how these systems mitigate settlement risk, using precisely targeted “just-in-time” liquidity, and discusses the risks for financial stability implied by the increasing role of just-in-time liquidity in our financial markets.

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Year of publication:	2009
Authors:	Heckinger, Richard ; Marshall, David ; Steigerwald, Robert
Published in:	Chicago Fed Letter. - Federal Reserve Bank of Chicago. - 2009, Nov, 268a
Publisher:	Federal Reserve Bank of Chicago
Subject:	Financial markets \| Liquidity (Economics)

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

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