Similar Search Results

The Federal Reserve's Financial Crisis Response E : The Term Asset-Backed Securities Loan Facility

Wiggins, Rosalind - 2016

Securitization is a process that allows banks and other lenders to package loans and sell them as bonds called asset-backed securities (ABS), removing them from their balance sheets and immediately generating cash for new loans. ABS are an important component of the financing cycle for many...

Persistent link: https://www.econbiz.de/10013000245

The Term Asset-Backed Securities Loan Facility

Caviness, Elizabeth; Sarkar, Asani; Goyal, Ankur; Park, … - 2021

The COVID-19 pandemic disrupted the asset-backed securities (ABS) market, resulting in higher spreads on ABS and briefly halting the issuance of some ABS. On March 23, 2020, the Federal Reserve established the Term Asset-Backed Securities Loan Facility (TALF) to support the flow of credit to...

Persistent link: https://www.econbiz.de/10012625897

How Effective Were the Federal Reserve Emergency Liquidity Facilities? Evidence from the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility

Duygan-Bump, Burcu - 2012

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 disruptions in the United States importantly included creating liquidity facilities … interventions — the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility. Our findings indicate that this …

Persistent link: https://www.econbiz.de/10013116163

Asset-liability management with ultra-low interest rates

Grossman, Richard S.; Molyneux, Philip; Lambert, Frederic; … - Conference on Asset-Liability Management with Ultra-Low …; … - 2015

On 11 March 2015, SUERF jointly organised a conference with the Oesterreichische Nationalbank and the Austrian Society for Bank Research (Bankwissenschaftliche Gesellschaft - BWG). The present SUERF Study 2015/2 includes a selection of papers based on the authors' contributions to the Vienna...

Persistent link: https://www.econbiz.de/10011413495

Monetary policy after the crisis : a joint publication with the National Bank of Poland

Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.); … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011

On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...

Persistent link: https://www.econbiz.de/10011710723

The price of money : now collateral policy affects the yield curve

Nyborg, Kjell G.; Woschitz, Jiri - 2021

Central-bank collateral policy governs the convertibility of assets into central-bank money provided directly by the central bank. Focusing on government bonds, we develop clean identification of variation in such convertibility by exploiting differential treatment of same-country government...

Persistent link: https://www.econbiz.de/10012799625

Liquidity regulation, the Central Bank, and the money market : conference paper

Scheubel, Beatrice; Körding, Julia - 2013 - This version: 15 February 2013

crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding … without being clear on how such an approach will affect the overall equilibrium on money markets. In particular, liquidity …

Persistent link: https://www.econbiz.de/10010342820

Would a Stricter Fed Policy and Financial Regulation Have Averted the Financial Crisis?

Gokhale, Jagadeesh - 2009

Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust - and the subsequent...

Persistent link: https://www.econbiz.de/10013155688

Liquidity Provision and Financial Stability

Chen, William; Phelan, Gregory - 2022

When financial intermediaries’ key characteristic is provision of liquidity through their liabilities, with financial … frictions the financial sector in the aggregate is likely to over-accumulate equity, thus decreasing liquidity provision and … financial sector. This policy increases the likelihood that intermediaries provide more liquidity and improves the stability of …

Persistent link: https://www.econbiz.de/10014235793

The Federal Reserve's Large-Scale Asset Purchase Programs : Rationale and Effects

D'Amico, Stefania - 2013

We provide empirical estimates of the effect of large-scale asset purchase (LSAP)-style operations on longer-term U.S. Treasury yields within a framework that nests the alternative theoretical perspectives on LSAPs. As the principal channels through which LSAPs might matter for longer-term...

Persistent link: https://www.econbiz.de/10013088919