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The Federal Reserve's Use of International Swap Lines

Baker, Colleen - 2013

This Article focuses on the U.S. Federal Reserve's controversial practice of loaning U.S. dollars to foreign central banks, which the foreign central banks then turn around and loan to institutions in their jurisdictions. The Federal Reserve does not know the identity of these recipient...

Persistent link: https://www.econbiz.de/10013085933

The Federal Reserve as Last Resort

Baker, Colleen - 2013

The Federal Reserve, the central bank of the United States, is one of the most important and powerful institutions in the world. Surprisingly, legal scholarship hardly pays any attention to the Federal Reserve or to the law structuring and governing its legal authority. This is especially...

Persistent link: https://www.econbiz.de/10013089325

Unappropriated Dollars : The Fed's Ad Hoc Lending Facilities and the Rules That Govern Them

Menand, Lev - 2020

Persistent link: https://www.econbiz.de/10012833832

Financial Dollarization Equilibria : A Framework for Policy Analysis

Ize, Alain - 2006

Rapidly rising dollarization and numerous related financial crises in recent years have heightened the need for policy action. This paper contributes to the policy debate by presenting a common analytic framework that examines the roots of de facto financial dollarization under different...

Persistent link: https://www.econbiz.de/10012780728

Enterprise Payments with Central Bank Digital Currency

Fleming, Martin; King, Alan; Parr, Francis - 2021

The paper proposes an architecture for implementing the Bank of England's basic principles for the design of a CBDC with a focus on real-time high value, often cross border, enterprise transactions. The use of digital ledger technology makes innovative use of chaincode - smart contracts...

Persistent link: https://www.econbiz.de/10013225627

The Logic and Limits of the Federal Reserve Act

Menand, Lev - 2022

Over the past fourteen years, the U.S. Federal Reserve has rescued overleveraged financial companies, purchased trillions of dollars of mortgage-backed securities, and created novel facilities to support ordinary businesses, nonprofits, and local governments. While some argue that the Fed has...

Persistent link: https://www.econbiz.de/10013301921

Long-term deposit funding and demand for central bank funds : evidence from targeted longer-term refinancing operations

Fudulache, Adina-Elena; Götz, Martin - 2023 - March 7, 2023

We exploit variation in the share of seniors across European banking markets to construct an IV for banks’ dependence on long-term deposit funding and find that greater long-term deposit funding reduces demand for long-term central bank funding via targeted longer-term refinancing operations...

Persistent link: https://www.econbiz.de/10014320568

Central bank crisis interventions : a review of the recent literature on potential costs

Aldridge, Patrick; Cimon, David A.; Vala, Rishi - 2023

Central banks may engage in large-scale lending and asset purchases to stabilize financial markets and implement monetary policy during crises. The ability of these actions to restore financial market functioning is well documented; however, they come with costs. We provide a literature review of...

Persistent link: https://www.econbiz.de/10014439058

The Bank of England as lender of last resort : new historical evidence from daily transactional data

Anson, Mike; Bhola, David; Kang, Miao; Thomas, Ryland - 2017

We use daily transactional ledger data from the Bank of England's Archive to test whether and to what extent the Bank of England during the mid-nineteenth century adhered to Walter Bagehot's rule that a central bank in a financial crisis should lend cash freely at a high interest rate in...

Persistent link: https://www.econbiz.de/10011748529

Wie ist das EU-Konzept zur Bankenunion zu bewerten?

Lautenschläger, Sabine; Gstädtner, Thomas; Steffen, Sascha - In: ifo Schnelldienst 66 (2013) 01, pp. 3-13

Mit den Beschlüssen zur europäischen Regulierung im Dezember 2012 hat die EU einen Schritt in Richtung Bankenunion … gemacht. Nach Ansicht von Sabine Lautenschläger, Deutsche Bundesbank, braucht Europa Zeit, um eine europäische Bankenaufsicht … of Management and Technology (ESMT), Berlin, sieht den Beschluss der EU zur europäischen Regulierung als einen Schritt in …

Persistent link: https://www.econbiz.de/10011693438

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