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Persistent link: https://www.econbiz.de/10014371295
This paper empirically investigates banks’ investment allocations over the recent business cycle. I identify … unsolicited deposit shocks resulting from unconventional energy development and estimate bank allocations of these deposits. In … the pre-recession period, banks lend 38 percent of incremental deposits; however, during the downturn, banks favor liquid …
Persistent link: https://www.econbiz.de/10010936676
Persistent link: https://www.econbiz.de/10000540679
According to most theories of financial intermediation, intermediaries diversify risk, transform maturity or liquidity, and screen or monitor borrowers. In U.S. Treasury auctions, none of these rationales apply. Intermediaries submit their customer bids without transforming liquidity or...
Persistent link: https://www.econbiz.de/10011264950
The growth of wholesale-funded credit intermediation has motivated liquidity regulations. We analyze a dynamic stochastic general equilibrium model in which liquidity and capital regulations interact with the supply of risk-free assets. In the model, the endogenously time-varying tightness of...
Persistent link: https://www.econbiz.de/10010751386
mechanisms for shadow banking that have been documented in the literature. I then illustrate the role of shadow bank policies …
Persistent link: https://www.econbiz.de/10010751388
This primer provides a detailed description of the GCF Repo® Service, a financial service provided by the Fixed Income Clearing Corporation. The primer is composed of an introductory note and two separate papers. The first paper focuses on the clearance and settlement of GCF Repo. These...
Persistent link: https://www.econbiz.de/10011027228
Persistent link: https://www.econbiz.de/10003546864