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The Federal Reserve's Portfolio and its Effects on Mortgage Markets

Hancock, Diana - 2012

We provide an empirical analysis of the effects of the Federal Reserve's asset holdings on MBS yields and mortgage rates. We argue that understanding the particulars of the U.S. mortgage markets, particularly the linkages between the secondary and primary mortgage markets, is important. We find...

Persistent link: https://www.econbiz.de/10013106785

Gses, Mortgage Rates, and Secondary Market Activities

Lehnert, Andreas - 2005

Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs) that purchase mortgages and issue mortgage-backed securities (MBS). In addition, the GSEs are active participants in the primary and secondary mortgage markets on behalf of their own portfolios of MBS. Because these...

Persistent link: https://www.econbiz.de/10012736943

FHA, Fannie Mae, Freddie Mac, and the Great Recession

Passmore, S. Wayne - 2017

Did government mortgage programs mitigate the adverse economic effects of the financial crisis? We find that counties with greater participation in traditional government mortgage programs experienced less severe economic downturns during the Great Recession. In particular, counties with higher...

Persistent link: https://www.econbiz.de/10012969438

How the Federal Reserve's Large-Scale Asset Purchases (LSAPs) Influence Mortgage-Backed Securities (MBS) Yields and U.S. Mortgage Rates

Hancock, Diana - 2014

We conduct an empirical analysis of the Federal Reserve's large-scale asset purchases (LSAPs) on MBS yields and mortgage rates. The Federal Reserve's accumulation of MBS and Treasury securities lowered MBS yields and mortgage rates by more than what would have been suggested by changes in market...

Persistent link: https://www.econbiz.de/10013059311

Are Basel's Capital Surcharges for Global Systemically Important Banks Too Small?

Passmore, S. Wayne; von Hafften, Alexander - 2017

The Basel Committee promulgates bank regulatory standards that many major economies enact to a significant extent. One … with significant confidence in the effectiveness of other Basel III reforms, modest increases in surcharges appear needed …

Persistent link: https://www.econbiz.de/10014122662

Investor Demands for Safety, Bank Capital, and Liquidity Measurement

Passmore, S. Wayne; Temesvary, Judit - 2020

We construct a model of a bank's optimal funding choice, where the bank negotiates with both safety-driven short … relationship between the bank's capital choices and short-term funding, as well as negative relationships between capital and … common measures of bank liquidity. Consistent with our model, our bank-level empirical analysis of these capital …

Persistent link: https://www.econbiz.de/10014048751