01751cas a2200265 a 4500 AALejournalIMF007363 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451845525 1018-5941 BD-DhAAL BD-DhAAL Schoenmaker, Dirk. The Reform of Wholesale Payment Systems and its Impacton Financial Markets / Dirk Schoenmaker, Peter Garber, D. Folkerts-Landau. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (54 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 This paper reviews the ongoing efforts to reduce the risks inherent in the world's principal wholesale payment systems. The paper assesses the major policy proposals to contain the growth in intraday credit exposures that arises in net settlement wholesale payment systems and in the real-time gross systems in which the central bank provides daylight overdrafts. It also discusses the benefits of these risk-management policies, and we assess the adverse impact of applying interest charges for intraday central-bank credit or of collateralizing such credit on liquidity in financial markets. Mode of access: Internet Folkerts-Landau, D. Garber, Peter. IMF Working Papers; Working Paper ; No. 1996/037 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/037/001.1996.issue-037-en.xml IMF e-Library