Explaining the decline in the auction rate securities market

Abstract: Auction rate securities are an example of a relatively obscure financial market instrument that has been caught up in the recent negative sentiment affecting the financial markets. This article examines these securities and sheds some light on recent events.

Keywords: Securities; Auctions; Financial markets;

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Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Chicago Fed Letter

Publication Date: 2008

Issue: Nov

Order Number: 256