Ashcraft, Adam B. (contributor); … - 2006
: Federal Reserve Bank of New York (e-mail: adam.ashcraft@ny.frb.org). Bleakley:
Graduate School of Business, University of … financial
intermediation cosponsored by the Federal Reserve Bank and the Stern School of Business at
New York University, and … balance near the end of the day is challenged by the fact that it takes
two business days in order to settle a securities trade, which means that a bank is
not …