Chile:Financial Sector Assessment Program—Technical Note on Systemic Liquidity

Financial Sector Assessment Program—Technical Note on Systemic Liquidity

Volume/Issue: Volume 2022 Issue 294

Publication date: September 2022

ISBN: 9798400219566

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

International - Economics , Finance , Money and Monetary Policy , ELA framework , ELA regulation , funding plan template , risk equivalence , ELA procedure , Lender of last resort , Liquidity , Collateral , Money markets , Bonds , Global

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Summary

Chile is characterized by a highly interconnected financial system, which presents risks and opportunities for the development of liquidity markets. On the one hand, the large domestic non-bank financial sector (pension funds, mutual funds, insurers) creates a large investor base for domestic debt securities, fostering the development of these markets. On the other hand, the non-bank financial sector is vulnerable to shocks which may have significant spillovers to funding markets and to the banking system.