01846cas a2200265 a 4500 AALejournalIMF007459 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858914 1018-5941 BD-DhAAL BD-DhAAL Hilbers, Paul. Some Issues in the Design of Monetary Instruments for the Operation of European Economic and Monetary Union / Paul Hilbers, Arto Kovanen, Charles Enoch. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (23 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 European Monetary Institute has been working with national central banks of the European Union (EU) to prepare instruments for the operation of monetary policy in Stage 3 of European Economic and Monetary Union. Several publications describing the proposed arrangements have been issued. This paper briefly summarizes the arrangements and identifies some areas in which important decisions still have to be made or refinements introduced-including the choice of counterparties in fine-tuning open market operations; the design of reserve requirements; the signaling function of monetary operations; and payment system relationships with non-EMU participants in the EU. Mode of access: Internet Enoch, Charles. Kovanen, Arto. IMF Working Papers; Working Paper ; No. 1997/178 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/178/001.1997.issue-178-en.xml IMF e-Library