01729cas a2200253 a 4500 AALejournalIMF001712 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857030 1018-5941 BD-DhAAL BD-DhAAL Chami, Ralph. Monetary Policy with a touch of Basel / Ralph Chami, Thomas Cosimano. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (47 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 The typical portrait of monetary policy has the banks and the money supply being manipulated through changes in bank reserves. However, with only a small portion of bank deposits now subject to reserve requirements, an alternative explanation of how monetary policy influences banks is needed. Over the last decade, capital requirements have effectively replaced reserve requirements as the main constraint on the behavior of banks. This paper explores the implications of Basel capital requirements for monetary policy. In particular, we identify a "bank balance-sheet channel" of monetary policy, which operates through the impact on the money stock and the economy. Mode of access: Internet Cosimano, Thomas. IMF Working Papers; Working Paper ; No. 2001/151 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/151/001.2001.issue-151-en.xml IMF e-Library