provided liquidity against a range of assets during 2008-09. Dealers with lower equity returns and greater leverage prior to … liquidity in explaining dealer behavior. The results suggest that both financial performance and balance sheet liquidity play a …

closely tied to fluctuations in the leverage of market-based financial intermediaries. Offering a window on liquidity, the …

’s interventions during different stages of the crisis in terms of this literature. We interpret the Fed’s early-stage liquidity … periods of high liquidity risk. In contrast, reductions in the Fed’s liquidity supply in 2009 did not increase the spread. Our … analysis has implications for the impact on asset prices of a potential withdrawal of liquidity supply by the Fed. -- Financial …

provide liquidity at a very high rate of interest. However, most of the theoretical literature on liquidity provision suggests … reserves available is limited. A high price for this liquidity allows banks that need it most to self-select. To the contrary …. -- liquidity provision ; lender of last resort ; Bagehot ; commodity money …