Correa, Ricardo; Du, Wenxin; Liao, Gordon - 2020
We characterize how U.S. global systemically important banks (GSIBs) supply short-term dollar liquidity in repo and …-of-second-to-last-resort". Using daily supervisory bank balance sheet information, we find that U.S. GSIBs modestly increase their dollar liquidity … increases, and during the balance sheet taper of the Federal Reserve. The increase in the dollar liquidity provision is mainly …