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Financial market utilities and the challenge of just-in-time liquidity
Abstract: Financial market utilities ensure that clearing, settlement, and payments operations go smoothly. This article explores how these systems mitigate settlement risk, using precisely targeted ?just-in-time? liquidity, and discusses the risks for financial stability implied by the increasing role of just-in-time liquidity in our financial markets.
Keywords: Financial markets; Liquidity (Economics);
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Chicago Fed Letter
Publication Date: 2009
Issue: Nov
Order Number: 268a