01807cas a2200253 a 4500 AALejournalIMF000257 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848373 1018-5941 BD-DhAAL BD-DhAAL Farahbaksh, Mitra. Bank-By-Bank Credit Ceilings : Issues and Experiences / Mitra Farahbaksh, Gabriel Sensenbrenner. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Many central banks have abandoned credit ceilings in favor of monetary control frameworks based on indirect instruments. In the long run, ceilings limited competition, hampered the development of a money market, and caused disintermediation. Despite the many distortions associated with the use of credit ceilings, some countries continue to employ them, particularly during the transitional period before full reliance on indirect monetary instruments. The paper argues that the careful attention to design can help reduce distortions typically associated with the use of credit ceilings. It identifies a series of principles that may be followed in designing a system that can minimize those distortions. Mode of access: Internet Sensenbrenner, Gabriel. IMF Working Papers; Working Paper ; No. 1996/063 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/063/001.1996.issue-063-en.xml IMF e-Library