Reserve
in sentence
857 examples of Reserve in a sentence
Sanders’ suggestion that the US president, rather than their own directors, nominate the regional
reserve
banks’ presidents is also worthy of consideration.
There is also ample scope for monetary easing; unlike central banks in the West, the People’s Bank of China has plenty of ammunition in
reserve.
Another proposal involves creating new international liquidity by issuing special drawing rights (international
reserve
assets maintained by the International Monetary Fund).
Effective monetary finance therefore requires central banks to impose mandatory non-interest-bearing
reserve
requirements.
What is required is a wide-ranging policy response that combines more powerful countercyclical capital tools than currently planned under Basel 3, the restoration of quantitative
reserve
requirements to advanced-country central banks’ policy toolkits, and direct borrower constraints, such as maximum loan-to-income or loan-to-value limits, in residential and commercial real-estate lending.
It would recommend policies for eliminating imbalances and describe what kind of exchange-rate and
reserve
changes must accompany any adjustments.
These past crises gave rise to a form of “self-insurance” among developing countries through
reserve
accumulation.
While such
reserve
accumulations help protect countries, in certain periods they reduce global aggregate demand.
One of them is a
reserve
requirement on cross-border flows – successfully implemented in Chile, Colombia, and elsewhere – or, even better, on cross-border liabilities.
But they make CFMs seem like an intervention of last resort, to be used only after everything else has been tried: exchange-rate adjustments,
reserve
accumulation, and restrictive macroeconomic policies.
In fact, CFMs should play an integral part in avoiding excessive exchange-rate appreciation and
reserve
accumulation in the first place.
Two of the world’s three largest economies come to mind: China, given the strength of its balance sheet, and the eurozone, given the euro’s status as a
reserve
currency.
The Chinese search for a replacement of the US dollar by a synthetic
reserve
currency is driven by a political backlash against the perceived iniquities of US financial and economic preeminence.
Indeed, according to Morgan Stanley, monetary authorities in 16 of the 33 countries that it follows – including seven of ten advanced-country central banks and nine of 23 central banks in emerging markets – have either cut their benchmark interest rate or lowered
reserve
requirements.
Despite a significant slowdown, the People’s Bank of China has resisted across-the-board cuts in interest rates or
reserve
requirements.
They have considerable flexibility, owing to a range of policy tools, including variable capital and
reserve
requirements and direct controls on mortgage lending terms.
But they have not eschewed the use of variable capital and
reserve
requirements, loan-to-deposit ratios, and thresholds for minimum deposits and maximum leverage as controls on property lending.
The currency peg has also helped make the euro into an important
reserve
currency, rivaling the dollar.
The euro’s becoming a major
reserve
currency bestows important economic advantages on the euro-zone economy.
To offset this, a reduction in bank
reserve
requirements is expected, although this cuts against the rules of Convertibility and may cause a fall in international reserves.
Crashing the SDRSANTA BARBARA – The Chinese government’s campaign to have its currency, the renminbi, included in the International Monetary Fund’s
reserve
asset appears to be on the brink of success.
But in terms of the all-important roles of a currency as an investment vehicle or
reserve
asset, the outlook for the renminbi is much less promising, owing to China’s still-tight capital controls and low level of financial development.
A lively debate is now in progress, including over the euro's role once it reaches its full potential as a major
reserve
currency.
The IMF, like a central bank at the national level, could be authorized to use its own international
reserve
asset, the Special Drawing Right, or SDR.
Big investors, particularly Asian countries’
reserve
funds, are increasingly nervous.
In joint research with Roberto Chang and Luis Felipe Céspedes, we show that all inflation-targeting central banks in Latin America have used a range of non-conventional policy tools, including currency-market interventions and changes in
reserve
requirements.
Faced with this dilemma, many emerging-market countries have turned to exchange-rate intervention, and then to raising banks’
reserve
requirements, in order to make foreign borrowing less attractive.
Nor are many emerging-market countries’ central banks, which are adopting changes in
reserve
requirements and loan-to-value ratios, among other measures, to prick asset-price bubbles in their early stages.
The commercial banks have a great deal of liquidity, in the form of excess
reserve
deposits at the Fed, which could make inflationary lending a significant risk.
A less noticed, but perhaps more important, sterilization tool used by the PBOC was to increase
reserve
requirements.
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