Quantifying the benefits of a liquidity-saving mechanism

This paper attempts to quantify the benefits associated with operating a liquidity-saving mechanism (LSM) in Fedwire, the large-value payment system of the Federal Reserve. Calibrating the model of Martin and McAndrews (2008), we find that potential gains are large compared to the likely cost of implementing an LSM, on the order of hundreds of thousands of dollars per day.

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Year of publication:	2010
Authors:	Atalay, Enghin ; Martin, Antoine ; McAndrews, James
Institutions:	Federal Reserve Bank of New York
Subject:	Fedwire \| Liquidity (Economics) \| Payment systems \| Federal Reserve System

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Extent:	text/html application/pdf
Series:	Staff Reports.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 447
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008498297