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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
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The Mechanics of a Graceful Exit : Interest on Reserves and Segmentation in the Federal Funds Market
Klee, Elizabeth - 2011
To combat the financial crisis that intensified in the fall of 2008, the Federal Reserve injected a substantial amount of liquidity into the banking system. The resulting increase in reserve balances exerted downward price pressure in the federal funds market, and the effective federal funds...
Persistent link: https://www.econbiz.de/10013128715
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How Do Joint Supervisors Examine Financial Institutions? The Case of State Banks
Rezende, Marcelo - 2011
This paper studies what determines whether federal and state supervisors examine state banks independently or together. The results suggest that supervisors coordinate examinations in order to support states with lower budgets and capabilities and more banks to supervise. I find that states with...
Persistent link: https://www.econbiz.de/10013118649
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Estimating Changes in Supervisory Standards and Their Economic Effects
Bassett, William F. - 2012
The disappointingly slow recovery in the U.S. from the recent recession and financial crisis has once again focused attention on the relationship between financial frictions and economic growth. With bank loans having only recently started growing and still sluggish, some bankers and borrowers...
Persistent link: https://www.econbiz.de/10013096068
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Bank Capital Ratios and the Structure of Nonfinancial Industries
Lee, Seung Jung - 2012
We exploit variation in commercial bank capital ratios across states to identify the impact of commercial bank balance sheet pressures manifested through changes in capital ratios on employment in the manufacturing sector. For industries dependent on external finance, we find that an increase in...
Persistent link: https://www.econbiz.de/10013096073
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The Influence of Fannie and Freddie on Mortgage Loan Terms
Kaufman, Alex - 2012
performance or on the prevalence of certain types of "exotic" mortgages. The overall picture suggests that GSE purchases had only …
Persistent link: https://www.econbiz.de/10013104546
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The Influence of Fannie and Freddie on Mortgage Loan Terms
Kaufman, Alex - 2012
performance or on the prevalence of certain types of “exotic” mortgages. The overall picture suggests that GSE purchases had only …
Persistent link: https://www.econbiz.de/10013106465
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The Government-Sponsored Enterprises and the Mortgage Crisis : The Role of the Affordable Housing Goals
Bolotnyy, Valentin - 2012
), introduced by Congress through the GSE Act of 1992, and the resulting purchases of single-family mortgages the GSEs made to meet … the goals, the Underserved Areas Goal (UAG), on the number of whole single-family mortgages purchased by the GSEs in … first approach, I estimate that the GSEs purchased 0 to 3 percent more goal-eligible mortgages than they would have without …
Persistent link: https://www.econbiz.de/10013107370
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The Government-Sponsored Enterprises and the Mortgage Crisis : The Role of the Affordable Housing Goals
Bolotnyy, Valentin - 2013
), introduced by Congress through the GSE Act of 1992, and the resulting purchases of single-family mortgages the GSEs made to meet … the goals, the Underserved Areas Goal (UAG), on the number of whole single-family mortgages purchased by the GSEs in … first approach, I estimate that the GSEs purchased 0 to 3 percent more goal-eligible mortgages than they would have without …
Persistent link: https://www.econbiz.de/10013091049
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Payday Lending Regulation
Kaufman, Alex - 2013
To date the debate over payday lending has focused on whether access to such lending is on net beneficial or harmful to consumer welfare. However, payday loans are not one product but many, and different forms of lending may have different welfare implications. The current diversity in payday...
Persistent link: https://www.econbiz.de/10013073386