Since August 1995, Japanese banks have had to pay a premium on Eurodollar and Euroyen interbank loans relative to their U.S. and U.K. competitors. This so-called Japan premium' provides a market indicator of investor anxiety about the ability of Japanese banks to repay loans. We examine the...

Since August 1995, Japanese banks have had to pay a premium on Eurodollar and Euroyen interbank loans relative to their U.S. and U.K. competitors. This so-called Japan premium' provides a market indicator of investor anxiety about the ability of Japanese banks to repay loans. We examine the...

Liquidity risk has received increased attention recently, especially in light of the 2007-2009 financial crisis, when banks' extensive reliance on short-term funding, maturity mismatches between assets and liabilities, and insufficient liquidity buffers made them quite susceptible to liquidity...

The events following Lehman's failure in 2008 and the current turmoil emanating from Europe highlight the structural vulnerabilities of short-term credit markets and the role of central banks as back-stop liquidity providers to financial markets. The Federal Reserve's response to financial...

Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at The Business and Industry Association of New Hampshire and the Greater Manchester Chamber of Commerce, Manchester, New Hampshire, September 3, 2008

Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for the Federal Reserve Bank of Richmond's 2008 Credit Markets Symposium, The Changing Business of Banking, Charlotte, North Carolina, April 18, 2008