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:: year 3, Issue 8 (summer 2011) ::
JMBR 2011, 3(8): 155-210 Back to browse issues page
The Necessity of Applying a New Approach to Liquidity Risk Management in SATNA Payment System
Zahra Khoshnoud 1, Tahereh Akbari Alashti , Rasool Khansari
Abstract:   (1682 Views)

This article is Intends to Introduce the method of liquidity risk management in international payment systems. It focuses on two different payment systems practiced in European :::union::: and USA which settle high volume of large value transactions in the financial system. It has been observed that the liquidity risk management in these systems shows a tendency toward more reliance on collateral management. The variety of eligible collaterals in these systems (particularly after recent crisis) demonstrates more appropriate access of participants to required liquidity and more efficient management of liquidity risk in these payment systems. While examining accessible eligible collaterals in SATNA payment system in Iran، it demonstrates enormous gap with other systems in this area. Not only this matter can result in wide systemic risk in the financial system in normal conditions (by facing banks with intraday liquidity risk in the settlement process of transactions)، but it can also cause systematic crisis in the financial system and hence in the economy during stress conditions.
Hence in this article، it has been emphasized on the importance of applying new approach towards liquidity risk management in SATNA payment system، and introducing eligible assets for exerting this approach and the significance of using various eligible securities in the current approach. Moreover، the perquisites for successful functioning of this approach and the mentioned instruments in liquidity risk management of SATNA payment system have been taken into consideration.

 

JEL Classification: E0, G1

Keywords: Liquidity Risk, Intraday Liquidity, Payment System, SATNA System
Full-Text [PDF 371 kb]   (575 Downloads)    
Type of Study: Empirical Study |
Received: 2014/08/4 | Accepted: 2014/08/4 | Published: 2014/08/4
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year 3, Issue 8 (summer 2011) Back to browse issues page
فصلنامه پژوهش‌های پولی-بانکی Journal of Monetary & Banking Research
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