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repo market, et cetera. In this paper, we argue that the elimination of specialized banking through the eventual repeal of … protected banks and the so-called shadow banking system have become blurred. The existence of the shadow banking universe, which … banking system. In this context, reforming the lender-of-last-resort institution requires fundamental changes within the …
Persistent link: https://www.econbiz.de/10011124865
- particularly with respect to its function as lender of last resort. It provided the banking sector with almost unlimited liquidity …
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last resort. The ECB provided the banking sector with almost unlimited liquidity and, in addition, purchased government …
Persistent link: https://www.econbiz.de/10011128405
Purpose The purpose of this paper is to propose reforms that would establish a credible framework of rules to constrain and guide emergency lending by the Federal Reserve and by fiscal authorities during a future financial crisis. Design/methodology/approach The authors propose a set of five...
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The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility … the respective roles of the various liquidity facilities would be helpful. …
Persistent link: https://www.econbiz.de/10010292250
During the last decades a consensus has emerged that it is impossible to disentangle liquidity shocks from solvency … in banking and the role of the lender of last resort to prevent it. …
Persistent link: https://www.econbiz.de/10010264351