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Anomalous bidding in short-term treasury bill auctions

Fleming, Michael J. (contributor); … - 2004 - [Elektronische Ressource]

We show that Treasury bill auction procedures create classes of price-equivalent discount rates for bills with fewer than seventy-two days to maturity. We argue that it is inefficient for market participants to bid at a discount rate that is not the minimum rate in its class. The inefficiency of...

Persistent link: https://www.econbiz.de/10002101530

The implementation of recent monetary policy actions

Thomas C. Baxter, Jr. - Federal Reserve Bank of New York - 2011

Testimony before the Subcommittee on Oversight and Investigations, Committee on Financial Services, U.S. House of Representatives.> .

Persistent link: https://www.econbiz.de/10010724967

Some observations and lessons from the crisis

Potter; Simon M. - Federal Reserve Bank of New York - 2010

Remarks at the Third Annual Connecticut Bank and Trust Company Economic Outlook Breakfast, Hartford, Connecticut.

Persistent link: https://www.econbiz.de/10010724969

Implementing the Federal Reserve's asset purchase program

Sack, Brian P. - Federal Reserve Bank of New York - 2011

Remarks at Global Interdependence Center Central Banking Series Event, Federal Reserve Bank of Philadelphia.

Persistent link: https://www.econbiz.de/10010725012

Credit default swap auctions

Helwege, Jean; Maurer, Samuel; Sarkar, Asani; Wang, Yuan - Federal Reserve Bank of New York - 2009

to major changes in the way CDS contracts are settled when default occurs. Auctions are increasingly the mechanism used …, auctions will become a standard feature of all recent CDS contracts from now on. In this paper, we examine all of the CDS … auctions conducted to date and evaluate their efficacy by comparing the auction outcomes to prices of the underlying bonds in …

Persistent link: https://www.econbiz.de/10005004155

Selection bias, demographic effects, and ability effects in common value auction experiments

Casari, Marco; Ham, John C.; Kagel, John H. - Federal Reserve Bank of New York - 2005

We find clear demographic and ability effects on bidding in common value auctions: inexperienced women are much more …

Persistent link: https://www.econbiz.de/10005526312

Anomalous bidding in short-term Treasury bill auctions

Fleming, Michael J.; Garbade, Kenneth D.; Keane, Frank - Federal Reserve Bank of New York - 2004

Persistent link: https://www.econbiz.de/10005420655

Stigma in financial markets: evidence from liquidity auctions and discount window borrowing during the crisis

Armantier, Olivier; Ghysels, Eric; Sarkar, Asani; … - Federal Reserve Bank of New York - 2011

We provide empirical evidence for the existence, magnitude, and economic impact of stigma associated with banks borrowing from the Federal Reserve’s discount window facility. We find that, during the height of the financial crisis, banks were willing to pay an average premium of at least 37...

Persistent link: https://www.econbiz.de/10008828503

Auctions implemented by the Federal Reserve Bank of New York during the Great Recession

Armantier, Olivier; Sporn, John - Federal Reserve Bank of New York - 2013

Securities Lending Facility, and the disposition of the Maiden Lane II portfolio. These auctions differed from one another in …, compare, and provide a rationale for the mechanics of the different auctions implemented by the Federal Reserve during the …

Persistent link: https://www.econbiz.de/10010699380