Yes, one can also go down the route of detailed calibrations, however from our own experiences with the Eurosystem collateral framework, we have found it is simpler to set out broad eligibility criteria, and then conduct detailed numeric analysis on those counterparties and assets that ‘get through the gates’.
4 The rise in LIBOR has also resulted in higher money market rates in Hong Kong, New Zealand and the UK. But 12 / 13  BIS central bankers' speeches  there has been less of an effect on European or Japanese rates.