This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of core capital (a function of the central bank`s operating expenditures and the carrying cost of its international reserves) as the minimum capital needed...

Given the rapidly declining demand for central bank reserves and their gradual replacement in wholesale payments by alternative forms of money - clearinghouse money and treasury money - this paper discusses whether the complete extinction of base money could undermine monetary control. It argues...

This paper examines the association between the default risk of foreign bank subsidiaries in developing countries and their parents during the global financial crisis, with the purpose of determining the size and sign of this correlation and, more importantly, understanding what factors can help...