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RBA Glossary definition for central bank

central bank – A non-commercial bank, which may or may not be independent of government, which has some or all of the following functions: conduct monetary policy; oversee the stability of the financial system; issue currency notes; act as banker to the government; supervise financial institutions and regulate payments systems.

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Central Counterparty Links and Clearing System Exposures

1 Oct 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2013/2013-12/

Conclusion

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures 6. Conclusion. ... Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of
https://www.rba.gov.au/publications/rdp/2013/2013-12/conclusion.html

Central Counterparty Links and Clearing System Exposures

28 Oct 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
Research Discussion Paper – RDP 2013-12 Central Counterparty Links and Clearing System Exposures. ... central clearing, financial markets, financial stability, interest rates, money, payments. Links between central counterparties (CCPs) enable
https://www.rba.gov.au/publications/rdp/2013/2013-12.html

Results

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
In Australia, for instance, many large international banks and investment houses participate in the domestic CCPs, and make up the majority of participants in the futures CCP, ASX Clear (Futures). ... Reserve Bank of Australia, 2001–2024. All rights
https://www.rba.gov.au/publications/rdp/2013/2013-12/results.html

References

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
Duffie D and H Zhu (2011), ‘Does a Central Clearing Counterparty Reduce Counterparty Risk?’,. ... Mägerle J and T Nellen (2011), ‘Interoperability between Central Counterparties’, Swiss National Bank Working Paper No 2011-12.
https://www.rba.gov.au/publications/rdp/2013/2013-12/references.html

Extensions

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
These conditions allow the central limit theorem to be applied in estimating the distribution of default losses. , ... Since. , the central limit theorem implies that for a large N, the distribution of.
https://www.rba.gov.au/publications/rdp/2013/2013-12/extensions.html

Model Framework

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures 3. Model Framework. ... net obligations between participants (. ). Under the central limit theorem, these summations (for a sufficiently large number of participants) lead to a normal
https://www.rba.gov.au/publications/rdp/2013/2013-12/model-framework.html

Introduction

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
With central clearing of OTC derivatives in its infancy, the eventual market outcome is uncertain. ... Section 2 provides a basic overview of central counterparty interoperability and the relevant literature.
https://www.rba.gov.au/publications/rdp/2013/2013-12/introduction.html

CCP Links and Exposure

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures 2. CCP Links and Exposure. ... Duffie and Zhu (2011) use a similar approach to Jackson and Manning (2007) to consider the implications of central clearing for netting efficiency.
https://www.rba.gov.au/publications/rdp/2013/2013-12/ccp-links-cs-exposures.html