Ashcraft, Adam; Bech, Morten L.; Frame, W. Scott - 2009
The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility … provides evidence about the uses of these funds by their bank and thrift members. We then identify the trade-offs faced by FHLB … the respective roles of the various liquidity facilities would be helpful. …