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Discussion Paper

Who’s Borrowing in the Fed Funds Market?


Abstract: The federal funds market plays an important role in the implementation of monetary policy. In our previous post, we examine the lending side of the fed funds market and the decline in total fed funds volume since the onset of the financial crisis. In today’s post, we discuss the borrowing side of this market and the interesting role played by foreign banks.

Keywords: Federal funds; borrowing; foreign institutions;

JEL Classification: E5; G1; G2;

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Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Liberty Street Economics

Publication Date: 2013-12-09

Number: 20131209