Journal Article

Central bank tools and liquidity shortages


Abstract: Bank for International Settlements researchers Stephen Cecchetti and Piti Disyatat consider the implications of recent financial developments for the ?lender-of-last-resort? function of central banks and whether traditional policymaking tools remain effective in the face of modern liquidity crises. Presented at \"Central Bank Liquidity Tools and Perspectives on Regulatory Reform\" a conference sponsored by the Federal Reserve Bank of New York, February 19-20, 2009.

Keywords: Banks and banking, Central; Liquidity (Economics); Bank liquidity; Bank reserves; Systemic risk; Financial crises;

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Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Economic Policy Review

Volume: 16

Issue: Aug

Pages: 29-42