Search: CLS Bank
RBA Glossary definition for CLS Bank
CLS Bank – CLS Bank is a multi-currency bank, regulated by the Federal Reserve Bank of New York, which uses central bank funds to simultaneously settle cross-currency transactions in real time through a process known as Continuous Linked Settlement (CLS).
RBA Glossary definition for CLS
CLS – Continuous Linked Settlement. A process enabling simultaneous foreign exchange settlement across the globe, eliminating the settlement risk caused by delays arising from time-zone differences.
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References
1 Oct 2017
RDP
2017-06
Frizell S (2014), ‘Could a 40-Year-Old Bank Collapse Have Saved the U.S. ... Seneca M (2016), ‘Risk Shocks Close to the Zero Lower Bound’, Bank of England Staff Working Paper No 606.
https://www.rba.gov.au/publications/rdp/2017/2017-06/references.html
Uncertainty and Monetary Policy in Good and Bad Times
1 Oct 2017
RDP
2017-06
Vavra (2014) and Baley and Blanco (2016) show that higher uncertainty generates higher aggregate price flexibility, which in turn harms the central bank's ability to influence aggregate demand. ... Our counterfactual exercise assumes that the central
https://www.rba.gov.au/publications/rdp/2017/2017-06/full.html