01733cas a2200241 a 4500 AALejournalIMF020296 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498341110 2663-3493 BD-DhAAL BD-DhAAL International Monetary Fund. Assessing Reserve Adequacy : Further Considerations. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (64 pages) Policy 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 Reserves remain a critical liquidity buffer for most countries. They are generally associated with lower crisis risks (crisis prevention) as well as space for authorities to respond to shocks (crisis mitigation). While other instruments, such as official credit lines and bilateral swap lines, are also external buffers, for most countries they principally act as a complement to their official reserves. For countries with sound fundamentals and a good policy framework, reserves provide policy makers with considerable space to respond to transitory shocks. However, this space diminishes as fundamentals deteriorate and the existence of adequate reserves does not, by itself, eliminate the risk of market pressures. Mode of access: Internet Policy Papers; Policy Paper ; No. 2013/089 Full text available on IMF http://elibrary.imf.org/view/journals/007/2013/089/007.2013.issue-089-en.xml IMF e-Library