Based on the payments and settlement system, the influence of the topology of capital flow networks on the extra short-term liquidity demand is investigated. Through modelling the circulating mechanism of liquidity in a network, its different influencing factors are analysed. The factors relating to the strength of nodes and leakage of liquidity that influences the liquidity demands of real-time settlements are studied from the perspective of both the system and members, using different simulation methods. The results show that strength will lead the member’s liquidity demand to increase but the strength distribution will lead the system’s liquidity demand to decrease, in cases with no leakage effect or unchanged leakage effect. The liquidity demand of the entire system is positive compared to the amount of leakage effect but uncorrelated to the distribution of the leakage effect among members, if the effect of strength distribution is unchanged. If the effects of strength, strength distribution and leakage are changed together, the latter is the dominant factor that influences the liquidity demand of both system and members. The above findings are useful for the management and supervision of short-term liquidity demand in complex financial systems, and for liquidity risk management and liquidity rescue policymaking.
This paper contains a description of a new so called liquidity coverage requirement and its possible relations with securitization positions in Europe. The author indicates that European securitization transactions performed significantly better during the financial crisis than American ones. Because of this fact they could be treated as an alternative channel to finance the real economy. The new regulations matter in this context, regulations designed with an aim to diminish the probability for similar crises in the future. One of the most important sets of regulations is the Capital Requirements Regulation (CRR) where the liquidity coverage requirement has been inserted. In LCR, for the first time in European rules, the advantages of securitization have been noticed so that certain securitizations are recognized as possible partial insurance in credit institutions against liquidity outflow during 30 calendar days. The research question is: could this recognition of securitization have – together with work performed by the ECB and European Commission – an influence on a recovery of securitization markets in Europe.
Artykuł prezentuje typologię profesjonalistów zajmujących się zarządzaniem płynnością w przedsiębiorstwach powstałą w wyniku meta analizy wyników badania jakościowego przeprowadzonego przez autorkę. Typologia ta odzwierciedla podatność badanych na wybrane pułapki decyzyjne oraz poziom refleksji menedżerów na temat pozaekonomicznych determinantów wpływających na podejmowanie decyzji.
EN
The paper presents a typology of professionals who deal with liquidity management in enterprises and is based on meta analysis of the results of the qualitative research led by the author. This typology reflects managers‟ susceptibility to selected decision traps and their reflection about non-economic determinants that may influence decision-making process.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.