01833cas a2200253 a 4500 AALejournalIMF001206 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848786 1018-5941 BD-DhAAL BD-DhAAL Schumacher, Liliana. Central Banks Use of Derivatives and Other Contingent Liabilities : Analytical Issues and Policy Implications / Liliana Schumacher, Mario Blejer. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (17 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 Whereas some central bank derivatives and other contingent liabilities arise from anomalous circumstances, there are a number of positive reasons that explain their popularity. After analyzing the rationale for these operations, we stress that most of these operations, being off-balance sheet, increase the risk and reduce the transparency of central bank accounts. This in turn makes more difficult the assessment of the financial position of the monetary authority and, by implication, of the macroeconomic conditions of the country. To deal with this issue, we suggest a comprehensive portfolio approach that values, in an economic sense, all assets and liabilities of the central bank. Mode of access: Internet Blejer, Mario. IMF Working Papers; Working Paper ; No. 2000/066 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/066/001.2000.issue-066-en.xml IMF e-Library