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Why Are Banks Holding So Many Excess Reserves?
Keister, Todd - 2009
bank reserves is determined by the size of the Federal Reserve's policy initiatives and in no way reflects the initiatives …' effects on bank lending. We also argue that a large increase in bank reserves need not be inflationary, because the payment of …
Persistent link: https://www.econbiz.de/10013157642
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Why are Banks Holding so Many Excess Reserves?
Keister, Todd - 2010
rather than lending them out. However, a careful examination of the balance sheet effects of central bank actions shows that … information about the initiatives' effects on bank lending or on the economy more broadly …
Persistent link: https://www.econbiz.de/10013148517
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Money and banking with reserves and CBDC
Niepelt, Dirk - 2022 - This version: October 28, 2022
We analyze retail central bank digital currency (CBDC) in a two-tier monetary system with bank deposit market power and … distortions or instrument restrictions are present. Depending on central bank choices CBDC raises U.S. bank funding costs by up to …
Persistent link: https://www.econbiz.de/10013440005
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Did Doubling Reserve Requirements Cause the 1937-38 Recession? New Evidence on the Impact of Reserve Requirements on Bank Reserve Demand and Lending
Calomiris, Charles W.; Mason, Joseph; Wheelock, David C. - 2022
In 1936-37, the Federal Reserve doubled member banks' reserve requirements. Friedman and Schwartz (1963) famously argued that the doubling increased reserve demand and forced the money supply to contract, which they argued caused the recession of 1937-38. Using a new database on individual...
Persistent link: https://www.econbiz.de/10013289443
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Why Do Banks Hold Excess Reserves? : Precautionary Demands or Monetary Policy Factors?
Osada, Takeshi - 2017
identify two factors that explain their demand for reserves: a short-term inter-bank money market rate (opportunity costs), and …
Persistent link: https://www.econbiz.de/10012949569
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Bank Lending and Interest on Excess Reserves
Hogan, Thomas L. - 2018
This paper analyzes the relationship between bank lending and the Federal Reserve's policy of paying interest on excess … accounts for more than half of the post-crisis decline in bank loan allocations …
Persistent link: https://www.econbiz.de/10012928234
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Demand for central bank reserves and monetary policy implementation frameworks : the case of the Eurosystem
Åberg, Pontus; Corsi, Marco; Grossmann-Wirth, Vincent; … - 2021
This paper discusses commercial banks’ demand for central bank reserves under two alternative monetary policy framework …
Persistent link: https://www.econbiz.de/10012627189
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Excess liquidity in the euro area : sources and remedies
Dąbrowski, Marek - 2023
framework of the European Central Bank (ECB)’s monetary policy from the scarce reserves system (SRS) to the abundant reserves …
Persistent link: https://www.econbiz.de/10014491928
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Precautionary Liquidity Shocks, Excess Reserves and Business Cycles
Bratsiotis, George; Theodoridis, Konstantinos - 2021
This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance restrictions imposed. The shock proxies the reluctance of the banking sector to "lend" to the real economy induced by an exogenous change in financial intermediaries' preference for "high"...
Persistent link: https://www.econbiz.de/10013250157
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Precautionary liquidity shocks, excess reserves and business cycles
Bratsiotis, George; Theodoridis, Konstantinos - 2020
This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance restrictions imposed. The shock proxies the reluctance of the banking sector to "lend" to the real economy induced by an exogenous change in financial intermediaries' preference for "high"...
Persistent link: https://www.econbiz.de/10012483779