| Description |
1 online resource : color illustrations |
| Series |
IMF working paper ; WP/14/87 |
|
IMF working paper ; WP/14/87.
|
| Contents |
Cover; Contents; I. Introduction; II. The Role of Central Bank Financial Strength; III. Overview of CADR Central Banks; A. Historical Roles and Recent Changes; Tables; 1. Functions of CADR Central Banks; Figures; 1. CADR and LA-5: Indicators of Macroeconomic Instability; 2. CADR and LA-5: Growth and Volatility; 3. CADR: Overall Balance of Central Banks; 4. CADR and LA-5: Inflation; Box 1. Bank Rescues and Central Bank Losses; 2. CADR: Episodes of Intervention in Financial Institutions, 1990-2006; B. Recapitalization: Legal Statutes and Recent Initiatives |
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5. CADR and LA-5: Central Bank AutonomyIV. Financial Positions; A. Income Position; 6. Income Position of CADR Central Banks; B. Balance Sheets; 7. Balance Sheet Items of CADR Central Banks; 8. CADR: Reserve Requirements of Depositary Institutions; C. Comparison with LA-5; 9. Balance Sheet Items of LA-5 Central Banks; D. Factors Influencing the Financial Position; V. Capital Adequacy; A. Economic Capital; 10. Rates of Return on Assets and Liabilities of CADR Central Banks; B. Capital Adequacy: Consistency with Low Inflation; 11. Book Capital and Economic Capital of CADR Central Banks |
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3. Summarized Central Bank Balance Sheets, 2012C. Capital Adequacy: Baseline Projections and Risks; 4. Core Profits, Core Inflation, and Core Capital; 12. Central Bank Capital: Baseline Projections; 13. Central Bank Capital: Sensitivity to Shocks; VI. Conclusions; Appendixes and Appendix Tables; I. Detailed Balance Sheets of CADR Central Banks; II. Estimating Central Bank Capital Needs; Table A.1. Parameters for Calculating Central Bank Capital Needs; References |
| Summary |
"This paper examines the financial strength of central banks in Central America and the Dominican Republic (CADR). Some central banks are working off the effects of intervention in distressed financial institutions during the 1990's and early 2000's. Their net income has improved since then owing to lower interest rates, a reduction in interest bearing debt, and recapitalization transfers. Claims on the government have fallen, but remain high and are typically reimbursed at below-market rates, and capital is negative when adjusting for this. Capital is sufficient to back a low inflation target given that the income position is supported by unremunerated reserve requirements. Capital is likely to increase over time, but only gradually, leaving countries vulnerable to macroeconomic risks. The capacity of CADR central banks to engage in macroeconomic stabilization would benefit from increased emphasis on low inflation as the primary objective of monetary policy and a stronger commitment by governments to recapitalization"--Abstract |
| Notes |
"Western Hemisphere"--Page 2 of pdf |
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"May 2014"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed June 6, 2014) |
| Subject |
Banks and banking, Central -- Central America
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Banks and banking, Central -- Dominican Republic
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Banks and banking, Central
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Central America
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Dominican Republic
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| Form |
Electronic book
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| Author |
Swiston, A. (Andrew James), author.
|
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International Monetary Fund. Western Hemisphere Department, issuing body.
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| ISBN |
9781484388020 |
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148438802X |
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