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Global liquidity : drivers, volatility and toolkits

Goldberg, Linda S. - 2023

Global liquidity refers to the volumes of financial flows—largely intermediated through global banks and non-bank … regulatory agendas related to non-bank financial institutions. …

Persistent link: https://www.econbiz.de/10014302919

The changing nature of financial intermediation and the financial crisis of 2007-09

Adrian, Tobias; Shin, Hyun Song - 2010

The financial crisis of 2007-09 highlighted the changing role of financial institutions and the growing importance of the "shadow banking system," which grew out of the securitization of assets and the integration of banking with capital market developments. This trend was most pronounced in the...

Persistent link: https://www.econbiz.de/10003948811

Evaluating the information in the Federal Reserve stress tests

Flannery, Mark; Hirtle, Beverly J.; Kovner, Anna - 2015

cumulative abnormal returns (|CAR|) of stress-tested bank holding companies averages almost 3 percent. Cumulative abnormal …

Persistent link: https://www.econbiz.de/10011342852

The effect of the central bank liquidity support during pandemics : evidence from the 1918 influenza pandemic

Anderson, Haelim Park; Chang, Jin Wook; Copeland, Adam - 2020

The coronavirus outbreak raises the question of how central bank liquidity support affects financial stability and … promotes economic recovery. Using newly assembled data on cross-county flu mortality rates and state-charter bank balance … withdrawals. Banks that were members of the Federal Reserve System were able to access central bank liquidity, enabling them to …

Persistent link: https://www.econbiz.de/10012224329

Dealer financial conditions and lender-of-last-resort facilities

Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - 2014

We examine the financial conditions of dealers that participated in two of the Federal Reserve's lender-of-last-resort (LOLR) facilities -- the Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF) -- that provided liquidity against a range of assets during...

Persistent link: https://www.econbiz.de/10010404154

The financial (in)stability real interest rate, r**

Akinci, Ozge; Benigno, Gianluca; Del Negro, Marco; … - 2020

We introduce the concept of a financial stability real interest rate using a macroeconomic banking model with an occasionally binding financing constraint, as in Gertler and Kiyotaki (2010). The financial stability interest rate, r**, is the threshold interest rate that triggers the constraint...

Persistent link: https://www.econbiz.de/10012309222

Financial stability policies for shadow banking

Adrian, Tobias - 2014

mechanisms for shadow banking that have been documented in the literature. I then illustrate the role of shadow bank policies …

Persistent link: https://www.econbiz.de/10010247355

Monetary policy and the run risk of loan funds

Cetorelli, Nicola; La Spada, Gabriele; Santos, João A. C. - 2022

Loan funds are open-end mutual funds holding predominantly corporate leveraged loans. We document empirically that loan funds are significantly more susceptible to run risk than any other category of debt funds, including corporate bond funds. Most importantly, we establish a link between loan...

Persistent link: https://www.econbiz.de/10013162106

Macroprudential policy : case study from a tabletop exercise

Adrian, Tobias; Fontnouvelle, Patrick de; Yang, Emily; … - 2015

confronting Federal Reserve Bank Presidents with a plausible, albeit hypothetical, macro-financial scenario that would lend itself …

Persistent link: https://www.econbiz.de/10011341899

Monetary cycles, financial cycles, and the business cycle

Adrian, Tobias; Estrella, Arturo; Shin, Hyun Song - 2010

One of the most robust stylized facts in macroeconomics is the forecasting power of the term spread for future real activity. The economic rationale for this forecasting power usually appeals to expectations of future interest rates, which affect the slope of the term structure. In this paper,...

Persistent link: https://www.econbiz.de/10003948217