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Settlement Liquidity and Monetary Policy Implementation — Lessons from the Financial Crisis

Bech, Morten L. - 2013

shows how Federal Reserve policy measures aimed at providing liquidity and stability to the financial system during and … after the crisis had a major impact on settlement liquidity and thus on the efficiency of clearing and settlement system …

Persistent link: https://www.econbiz.de/10013076287

Segregated balance accounts

Garratt, Rod; Martin, Antoine; McAndrews, James Joseph; … - 2015

This paper describes segregated balance accounts (SBAs), a concept for a new type of account that could provide increased competition for deposits, reduce system-wide balance sheet costs, and improve the transmission of monetary policy by facilitating greater pass-through of interest on excess...

Persistent link: https://www.econbiz.de/10011340973

Segregated balance accounts

Garratt, Rod; Martin, Antoine; McAndrews, James Joseph; … - 2015

Persistent link: https://www.econbiz.de/10010528292

Segregated Balance Accounts

Garratt, Rodney - 2015

Persistent link: https://www.econbiz.de/10013021988

Segregated Balance Accounts

Garratt, Rod - 2016

Persistent link: https://www.econbiz.de/10012985108

Interbank market and central bank policy

Ahn, Jung-hyun; Bignon, Vincent; Breton, Régis; … - 2016

We develop a model in which financial intermediaries hold liquidity to protect themselves from shocks. Depending on … parameter values, banks may choose to hold too much or too little liquidity on aggregate compared with the socially optimal … underinsurance against liquidity choice. The model therefore provides a unified framework for thinking, on the one hand, about policy …

Persistent link: https://www.econbiz.de/10011419845

Rediscounting under aggregate risk with moral hazard

Chapman, James T. E. (contributor); … - 2007

Freeman (1999) proposes a model in which discount window lending and open market operations have different effects. This is important because in most of the literature, these policies are indistinguishable. However, Freeman’s argument that the central bank should absorb losses associated with...

Persistent link: https://www.econbiz.de/10003590034

Rediscounting Under Aggregate Risk With Moral Hazard

Chapman, James T. E.; Martin, Antoine - 2007

In a 1999 paper, Freeman proposes a model in which discount window lending and open market operations have different outcomes - an important development because in most of the literature the results of these policy tools are indistinguishable. Freeman's conclusion that the central bank should...

Persistent link: https://www.econbiz.de/10014225041

Understanding the Cost Difference Between Intraday and Overnight Liquidity

Bhattacharya, Joydeep; Haslag, Joseph; Martin, Antoine - Department of Economics, Iowa State University - 2003

Central banks typically supply intraday and overnight reserves at very different costs. The cost of intraday reserves is very close to zero, while the cost of overnight reserves is much higher. In this paper, we discuss the different roles played by reserves intraday and overnight and review...

Persistent link: https://www.econbiz.de/10005155027

Repos, Fire Sales, and Bankruptcy Policy

Antinolfi, Gaetano; Carapella, Francesca; Kahn, Charles; … - In: Review of Economic Dynamics 18 (2015) 1, pp. 21-31

liquidity of collateral, but it can cause fire sales that are associated with reductions in real investment. Hence, policy …

Persistent link: https://www.econbiz.de/10011160657

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