Remittances are vitally important for the families of migrants (providing disposable funds), for developing country governments (as a valuable inflow of funds into their country) and for banks in receiving countries (by providing foreign currency and access to new potential customers). The...

The markets for bank accounts across the EU differ considerably among Member States, i.e. they are still fragmented along national lines and there is limited integration across different Member States. But even within national markets, there is evidence of major obstacles to consumer choice and...

The Japanese Fiscal Investment and Loan Progam (FILP) will be fundamentally changed in April 2001. We are comparing the pre- and post-reform Japanese system with the German system of policy-based finance and we have found that the German system is quite different. In the case of the...

This paper develops a continuous-time model of liquidity provision by banks, in which customers can deposit and withdraw their funds strategically ...

This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...

This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The study’s conclusions are the basis of an ongoing policy dialogue with IMF member...