Similar Search Results

The overnight interbank market : evidence from the G-7 and the euro zone

Prati, Alessandro (contributor); … - 2001 - [Elektronische Ressource]

This study of the major industrial countries' interbank markets for overnight loans links the behavior of very short-term interest rates to the operating procedures of the countries' central banks. Previous studies have focused on key features of the U.S. federal funds rate's behavior. We find...

Persistent link: https://www.econbiz.de/10001630855

Banks' reserve management, transaction costs, and the timing of federal reserve intervention

Bartolini, Leonardo (contributor); … - 2000 - [Elektronische Ressource]

We use daily data on bank reserves and overnight interest rates to document a striking pattern in the high-frequency behavior of the U.S. market for federal funds: depository institutions tend to hold more reserves during the last few days of each "reserve maintenance period", when the...

Persistent link: https://www.econbiz.de/10001512195

Day-to-day monetary policy and the volatility of the federal funds interest rate

Bartolini, Leonardo (contributor); … - 2000 - [Elektronische Ressource]

"We propose a model of the interbank money market with an explicit role for central bank intervention and periodic reserve requirements, and study the interaction of profit-maximizing banks with a central bank targeting interest rates at high frequency. The model yields predictions on biweekly...

Persistent link: https://www.econbiz.de/10001512198

The execution of monetary policy : a tale of two central banks

Bartolini, Leonardo (contributor); … - 2003 - [Elektronische Ressource]

The Eurosystem and the U.S. Federal Reserve System follow quite different approaches to the execution of monetary policy. The former institution adopts a "hands-off" approach that largely delegates to depository institutions the task of stabilizing their own liquidity at high frequency. The...

Persistent link: https://www.econbiz.de/10001752004

Trading risk and volatility in interest rate swap spreads

Kambhu, John (contributor) - 2004 - [Elektronische Ressource]

relationship in the behavior of interest rate swap spreads and in the volume and interest rates of repurchase contracts … forces in the behavior of interest rate swap spreads that can be attributed to speculative trading activity. We find that the … swap spread tends to converge to a long-run level, although trading risk can sometimes cause the spread to diverge from …

Persistent link: https://www.econbiz.de/10001936329

Reflections on the economic outlook and the implications for monetary policy

Dudley, William C. - Federal Reserve Bank of New York - 2013

Remarks at Fordham Wall Street Council, Fordham University Graduate School of Business, New York City.

Persistent link: https://www.econbiz.de/10010725033

Interest rate swaps: an alternative explanation

Arak, Marcelle; Estrella, Arturo; Goodman, Laurie; … - Federal Reserve Bank of New York - 1988

Persistent link: https://www.econbiz.de/10005717178

Money markets and common monetary policy in France, Germany and Italy

Uctum, Merih - Federal Reserve Bank of New York - 1992

Persistent link: https://www.econbiz.de/10005717220

U.S. monetary policy and financial markets

Meulendyke, Ann-Marie - Federal Reserve Bank of New York

Persistent link: https://www.econbiz.de/10005545053

Responses to the financial crisis, treasury debt, and the impact on short-term money markets

Hrung, Warren B.; Seligman, Jason S. - Federal Reserve Bank of New York - 2011

Several programs have been introduced by U.S. fiscal and monetary authorities in response to the financial crisis. We examine the responses involving Treasury debt—the Term Securities Lending Facility (TSLF), the Supplemental Financing Program, increases in Treasury issuance, and open market...

Persistent link: https://www.econbiz.de/10008799664