An examination of the behavior of bank deposit yields and a discussion of some implications for deposit variability and for the interpretation of money growth in the wake of deregulation and other changes in the financial industry in the early 1980s.

An analysis of deposit holdings of commercial banks and thrifts in the Fourth Federal Reserve District to determine the deposit growth and shifting that resulted from introduction of Super-NOWs and MMDAs.

A deposit-pricing survey and comparison of 112 depository institutions in the Fourth Federal Reserve District, covering MMDAs, Super-NOWS, and CDs in an examination of the effect of interest-rate deregulation on banks and thrifts.

Interest rate swaps have become a popular financial derivative, and market watchers and economists are paying closer attention to them and their associated yield curves. This Commentary gives a brief introduction to swaps and their relation to other interest rates.

Experience has taught economic forecasters to expect a recession when the yield on short-term Treasury securities rises above the yield on longer-term securities—a situation known as a yield-curve inversion. But some economists suspect the yield curve might not be as reliable a predictor of...

An examination of the indicator value of the yield curve, concluding that its message is no more distinct than those received from other intermediate indicators.

An assessment of the usefulness of a real-interest-rate guidepost for communicating long-term monetary policy intentions to the public. The author contends that because of inherent complexities in the relationship between real interest rates and policy objectives, a policy framework expressed in...

The yield curve has a wealth of information about future interest rates and economic conditions. Users should exercise caution, though, as many of the relationships that hold between the behavior of the curve and what it foretells depend on the monetary regime in place at the time the curve is...

Adjustable-rate mortgages have typically been tied to either of two indexes, one based on U.S. treasuries, the other on the London interbank offered rate, or Libor. The index is used to determine a mortgage’s new interest rate when it is reset, and up until recently, the choice would have made...

An argument that the Federal Reserve System's current approach to seasonal cycles--pegging the nominal interest rate--could successfully be applied to the business cycle as well.