Systemic Liquidity Management in the U.A.E.: Issues and Options

Author/Editor: Chailloux, Alexandre ; Hakura, Dalia
Publication Date: December 01, 2009
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: The paper analyzes the U.A.E.'s liquidity management framework in the context of the 2008 global financial crisis and the measures taken by the Central Bank of the U.A.E. to ease liquidity pressures in the second half of 2008. Drawing also on an empirical analysis of data for 15 U.A.E. banks through end-2008, the paper emphasizes the importance of making available to banks additional instruments to manage their liquidity as well as to strengthen the monitoring of a more comprehensive set of liquidity risk indicators. As regards the former, the paper discusses the merits and scope for the U.A.E. to introduce a domestic bond market.
Series: Working Paper No. 09/261
Subject(s): Banking sector | Central bank policy | Exchange rate regimes | Financial crisis | Financial instruments | Global Financial Crisis 2008-2009 | Liquidity management | Monetary measures | Monetary policy | Monetary unions | United Arab Emirates

Author's Keyword(s): Liquidity management | U.A.E.
Publication Date: December 01, 2009
Format: Paper
Stock No: WPIEA2009261 Pages: 30
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