Search: Clearing

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RBA Glossary definition for Clearing

Clearing – The process of transmitting, reconciling and in some cases confirming payment instructions prior to settlement; it may include netting of instructions and the calculation of final positions for settlement.

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The Model

9 Oct 2019 RDP 2019-10
Nicholas Garvin
s. /. d. m. is positive and continuous. The market-clearing securities price is written 1 – m where m represents market illiquidity. ... The market clearing mechanism is similar to Diamond and Rajan (2011) and Stein (2012).
https://www.rba.gov.au/publications/rdp/2019/2019-10/the-model.html

Emergency Liquidity Injections

1 Oct 2019 RDP 2019-10
Nicholas Garvin
The market clearing mechanism is similar to Diamond and Rajan (2011) and Stein (2012). ... Notes: The two panels illustrate market-clearing market illiquidity m across b, holding s constant, for two different interest rates.
https://www.rba.gov.au/publications/rdp/2019/2019-10/full.html

Liquidity Injection through Secured Lending

9 Oct 2019 RDP 2019-10
Nicholas Garvin
Notes: The two panels illustrate market-clearing market illiquidity m across b, holding s constant, for two different interest rates.
https://www.rba.gov.au/publications/rdp/2019/2019-10/liquidity-injection-through-secured-lending.html

Liquidity Support through Securities Purchases

9 Oct 2019 RDP 2019-10
Nicholas Garvin
It does this by purchasing securities to lift their market-clearing price.
https://www.rba.gov.au/publications/rdp/2019/2019-10/liquidity-support-through-securities-purchases.html