The Reserve Bank's Collateral Framework

Yasaman Naghiloo and David Olivan
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Yasaman Naghiloo: Reserve Bank of Australia
David Olivan: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2017, 07-18

Abstract: The Reserve Bank, like other central banks, holds collateral to reduce the risk of financial loss in its domestic market operations. The Reserve Bank's collateral framework sets out how the diverse portfolio of collateral assets is managed and ensures that collateral of sufficient quality and value is held at all times. Over the past two decades, the framework has been adjusted to address changes in collateral supply, changes in market functioning during the global financial crisis, payment system innovations and new banking regulations. This article explores the rationale for these changes and discusses the key features of the current framework.

Keywords: collateral framework; domestic market operations; open market operations; standing facilities; liquidity; risk management; collateral management; tri-party (search for similar items in EconPapers)
Date: 2017
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