Exchange Rate Appreciation and Negative Central Bank Capital: Is There a Problem?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F10%3A86075112" target="_blank" >RIV/61989100:27510/10:86075112 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Exchange Rate Appreciation and Negative Central Bank Capital: Is There a Problem?

Popis výsledku v původním jazyce

One of the crucial features of the world financial system over the last 10 years has been a steady increase in foreign exchange reserve holdings in emerging market economies. The accumulation of exchange reserves in the emerging economies is exposing a number of central banks to the risk of unrealized losses due to a decline in the value of the reserves expressed in the domestic currency if that currency starts to appreciate in nominal terms. Under these conditions, nominal appreciation may become a long term phenomenon, reflected in a build-up of large negative capital in its central bank. In this chapter we provide answers to the questions of whether negative capital is a problem, whether the losses can be offset by future profits and under what conditions the government should step in.

Název v anglickém jazyce

Exchange Rate Appreciation and Negative Central Bank Capital: Is There a Problem?

Popis výsledku anglicky

One of the crucial features of the world financial system over the last 10 years has been a steady increase in foreign exchange reserve holdings in emerging market economies. The accumulation of exchange reserves in the emerging economies is exposing a number of central banks to the risk of unrealized losses due to a decline in the value of the reserves expressed in the domestic currency if that currency starts to appreciate in nominal terms. Under these conditions, nominal appreciation may become a long term phenomenon, reflected in a build-up of large negative capital in its central bank. In this chapter we provide answers to the questions of whether negative capital is a problem, whether the losses can be offset by future profits and under what conditions the government should step in.

Druh

C - Kapitola v odborné knize

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GA402%2F08%2F0067" target="_blank" >GA402/08/0067: Finanční integrace nových členských zemí EU s eurozónou</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2010

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název knihy nebo sborníku

The Capital needs of Central Banks

ISBN

978-0-415-55328-5

Počet stran výsledku

23

Strana od-do

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Počet stran knihy

288

Název nakladatele

Routledge International Studies in Money and Banking

Místo vydání

London and New York

Kód UT WoS kapitoly

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