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 …

This paper examines the Federal Reserve's unprecedented liquidity provision during the financial crisis of 2007 …-2009. It first reviews how the Fed provides liquidity in normal times. It then explains how the Fed's new and expanded … liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the …

We study the interbank lending and asset sales markets in which banks with surplus liquidity have market power …

expansion of facilities designed to provide liquidity to the funding markets. A study of the programs suggests that the … liquidity facilities generated $20 billion in interest and fee income between August 2007 and December 2009, or $13 billion …

We study liquidity transfers between banks through the interbank borrowing and asset sale markets when, (i) surplus …) compared to outside markets, or is prepared to extend potentially loss-making loans. The public provision of liquidity to banks …, in fact its mere credibility, can thus improve the private allocation of liquidity among banks. This rationale for …

This review examines the Federal Reserve's (or Fed's) unprecedented liquidity provision during the financial crisis of … 2007–2009. It first reviews how the Fed provides liquidity in normal times. It then explains how the Fed's new and expanded … liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the …

This paper examines the Federal Reserve's unprecedented liquidity provision during the financial crisis of 2007 …-2009. It first reviews how the Fed provides liquidity in normal times. It then explains how the Fed's new and expanded … liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the …