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“Central banking, liquidity risk, and financial stability” - Tutorial U. Bindseil -- TU Berlin, SS 2014 What to know for the exam (script will be distributed in class as harcopy) - Chapters 1-4 - Chapter 9 - Chapter 10 - Chapter 11 - Chapters 12: section 1 and 4 - Chapter 13: section 3 - Chapter 14 - Chapter 15: section 1 Chapter 1 1. Define the main types and sub-types of monetary policy instruments. 2. To what extent is there a “continuum” between standing facilities and open market operations? 3. Why is the fulfilment of reserve requirements not measured more frequently than once a day, e.g. once a minute? Why is it not measured less frequently, e.g. once a year? 4. What is the relationship between the operational target of monetary policy, its ultimate target, the transmission mechanism, and the monetary policy instruments? Chapter 2: Representing monetary policy implementation in a closed system of financial accounts 5. Consider the following system of financial accounts: Households Real assets 60 Equity 100 Banknotes 10 Deposits banks 10 Bank equity 10 Corporate equity 2 Corporate bond 1 Government bond 7 Total assets 100 Total liabilities 100 Government Real assets 20 Debt 20 Total assets 20 Total liabilities 20 Corporations Real assets